India: Delhivery appoints three new independent board directors

Visual from Delhivery website

IPO-bound logistics startup, Delhivery, on Thursday announced the appointment of three new independent directors to its board.

The new member are Kalpana Morparia, former chairman of J. P. Morgan, South and Southeast Asia; Romesh Sobti, former managing director of IndusInd Bank; and Saugata Gupta chief executive of Marico Ltd.

Morparia, who has assumed the role of independent director on Delhivery’s board, has previously served as vice-chair on the boards of ICICI Group companies. She has been a longstanding independent board member of companies like Hindustan Unilever and Dr. Reddy’s Laboratories. She also serves as independent director on the board of Philip Morris International.

Sobti, was also the India head of ABN AMRO Bank N.V., and currently serves as a director on several boards, including those of Aditya Birla Capital Ltd. and Adani Green Energy Ltd.

Gupta, who is at the helm of Marico Ltd, currently serves as an independent director on the board of Ashok Leyland.

Along with this, Delhivery has also appointed Sri Rajan and Deepak Kapoor as independent directors.

Delhivery, which is backed by Softbank Vision Fund and Carlyle Group Inc. was planning to file for its $1 billion IPO, as soon as October, this year, Bloomberg reported in August.

Delhivery is a leading end-to-end logistics and supply chain services company in India, covering over 17,000 pin codes. The company provides a full suite of logistics services such as express parcel transportation, less-than-load (LTL) and full-truck load (FTL) freight, reverse logistics, cross-border and business-to-consumer warehousing.

Delhivery’s preparation towards filing its prospectus is the latest example of a rush to tap the public markets by Indian unicorn startups, including Paytm, Nykaa, Ixigo, and Policy Bazaar, amid a dizzying stock market rally.

This article was first published on livemint.com

Singapore Reporter/s

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Following vacancies can be applied for (only in Singapore).   

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.