Carlyle Group takes Minority Stake in logistics firm Delhivery
The Carlyle Group has acquired a minority stake in Indian logistics firm Delhivery, while existing investor hedge fund Tiger Global also raised its stake, for a combined investment of more than $100 million, the buyout fund said on Friday.
Join stock Cash HNI Service with 95% Accuracy
Join stock Cash HNI Service with 95% Accuracy
The investment comes amid expectations India's logistics sector is set to expand strongly as the country unveils a new unified national sales tax and through growing online retail sales.
Delhivery was founded in 2011 as a food delivery company but has since shifted to providing logistics services in more than 600 Indian cities through 12 fulfilment centres.
"We see significant potential for technology-enabled logistics in the country with the growth of e-commerce," Neeraj Bharadwaj, managing director of the Carlyle Asia buyout team, said in the statement.
The investment comes amid expectations India's logistics sector is set to expand strongly as the country unveils a new unified national sales tax and through growing online retail sales.
Comments
Post a Comment