Delhivery acquires Aramex India, tightening grip on e-commerce logistics as it nears unicorn status
Gurugram-based Delhivery has bought the India operations of Dubai courier giant Aramex, deepening its footprint in a $1.35B e-commerce logistics market forecast to grow 36%. The deal precedes a planned $450M raise that could value Delhivery above $1 billion, despite a Rs 692.21 crore FY18 net loss.
What happened
Delhivery has acquired Aramex's India operations, strengthening its position in India's e-commerce logistics market. Deal terms undisclosed; Delhivery nears
Key facts
- $257.6M raised
- $700-800M last valuation
- $130M May 2017 round
- $450M planned round
- Rs 1,023.05 crore FY18 operating income
- Rs 692.21 crore net loss
- $1.35B e-commerce logistics market 2018
- 36% growth forecast
Why this matters
This bolt-on of a global courier's India arm signals Delhivery will keep consolidating fragmented logistics assets pre-IPO, so expect further tuck-in acquisitions as it defends share ahead of the raise.
What to watch
- Terms and closing of the $450M raise / lead investor identity
- Post-acquisition shipment volume and revenue-per-parcel trends
- Competitor M&A or captive-logistics announcements
- FY19 loss trajectory and burn rate
- Anchor e-commerce client contract renewals (Flipkart/Amazon)
- Close the $450M round and formalize unicorn valuation
- Integrate Aramex India cross-border and B2B parcel network
- Expand tier-2/tier-3 pincode coverage to defend market share
- Layer in higher-margin services (warehousing, freight, SaaS) to offset delivery-cost dilution
- Signal IPO intent to reassure late-stage backers