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Asset management firm Carlyle Group picked a minority stake in supply chain services company Delhivery Private, with existing investor Tiger Global also raising its exposure, for a combined investment of more than $100 million.
The group today said “it has acquired a significant minority stake in Delhivery Pvt Ltd, India’s largest third-party supply chain services company focused on digital commerce”.
The investment is a pointer to a likely boom in the logistics sector as the government moves ahead with its plan to introduce GST from July 1 and on the back of burgeoning retail sales.
Founded in 2011, Delhivery provides express logistics services in over 600 cities in India and more than 8,500 pin codes and operates 12 fulfilment centres for B2C and B2B fulfilment services.
“We are delighted to partner with the management and expect to leverage our global experience in the logistics sector to assist the company with operational improvements and business expansion. We see significant potential for technology-enabled logistics in the country with the growth of e-commerce as well as increasing customer focus on on-time delivery and service levels,” Neeraj Bharadwaj, MD of the Carlyle Asia buyout team, said.
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