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SoftBank-backed Indian logistics startup Delhivery files for $1 billion IPO

Indian logistics startup Delhivery seeks to raise about $998 million in its initial public offering, the startup said in a filing with the local regulator, joining a number of other tech startups in the world’s second-largest internet market to explore the public markets. The 10-year-old startup plans to issue new shares worth $669 million, while the rest of the capital will be utilized to buy existing shares, it said in a filing (PDF). Backed by SoftBank, Tiger Global Management, Times Internet, The Carlyle Group, Steadview Capital and Addition, Delhivery began its life as a food delivery firm, but has since shifted to a full suite of logistics services in over 2,300 Indian cities and more than 17,500 zip codes.

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