Carlyle Group acquires minority stake in Indian logistics firm Delhivery
American asset management and financial services company The Carlyle Group has acquired a minority stake in Indian 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.
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.
Carlyle has invested more than $1.4 billion of equity in more than 30 transactions in India across all its funds as of Dec. 31.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Senior Citizen Latest FD Rates: Know what major banks like SBI, PNB, Canara Bank, HDFC Bank, ICICI Bank are providing on fixed deposits
Gratuity Calculator: Rs 38,000 as last-drawn basic salary, 5 years and 5 months of service; what will be gratuity amount?
Top 5 Small Cap Mutual Funds with best SIP returns in 1 year: See how Rs 25,000 monthly investment has grown in each scheme
Top 7 SBI Mutual Funds With Best SIP Returns in 1 Year: Rs 25,000 monthly SIP investment in No.1 fund has jumped to Rs 3,58,404
SBI 5-Year FD vs MIS: Which can offer higher returns on a Rs 2,00,000 investment over 5 years? See calculations
01:31 PM IST