SoftBank has completed its investment in logistics major Delhivery, having put in about $350 million into the Gurgaon-based company. In the process catapulting it into India’s growing list of startups with billion-dollar valuations. According to documents filed by the company with the Registrar of Companies, and accessed by business signals provider paper.vc.
Delhivery has issued 1.23 million Series F compulsorily convertible cumulative preference shares (CCCPS) each at a premium of 20,063 to SoftBank, which has invested through its Cayman Islands-registered entity SVF Doorbell (Cayman). The logistics company has also issued 158,831 Series-F CCCPS to bulge-bracket PE firm Carlyle Group, which is also an existing investor in the company, at the same premium per share.
Carlyle Group has invested in Delhivery through its entity CA Swift Investments. Additionally, Fosun International, also an existing investor, has also participated in the latest round, subscribing to 63,532 Series-F CCCPS.