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Delhivery appoints three new independent directors ahead of IPO

02:12 PM Oct 14, 2021 | FPJ Web Desk

Delhivery, logistics and supply chain services company in India, announced the appointment of three new independent board directors today--Kalpana Morparia, Romesh Sobti, and Saugata Gupta on their board of directors.

Kalpana Morparia is the former Chairperson of J. P. Morgan, South and Southeast Asia, and the former CEO of J.P. Morgan India. Prior to joining J. P. Morgan India, Ms. Morparia 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 and has extensive expertise on Governance, Audit, Nomination, and Compensation Committees.

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Romesh Sobti has been a career banker with 46 years of experience in all three sectors of banking - public, foreign, and private. He served as the Managing Director & CEO of Indusind Bank from 2008 to 2020. Prior to Indusind Bank, Sobti was the Executive Vice President – Country Executive, India and Head, UAE and Sub-Continent, at ABN AMRO Bank N.V. He also serves as a director on several boards, including those of Aditya Birla Capital Ltd. and Adani Green Energy Ltd.

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Saugata Gupta currently serves as the Managing Director and Chief Executive Officer of Marico Limited. He is responsible for driving the company's growth and strengthening its presence both nationally and internationally. Amongst the several illustrious awards through his career, he has also been recognized as the Best CEO - Private Sector at Forbes India Leadership Awards 2019. Saugata also serves as an Independent Director on the board of Ashok Leyland and is a member of the Audit Committee, Nomination and Remuneration Committee, and ESG Committee.

Rajan and Deepak Kapoor have been appointed as Independent Directors. Kapoor has also been appointed as the Independent Chairman of the board of Delhivery. The company is also in discussions to add another woman independent director on the board.

The Gurugram-based firm is looking to raise around $1 billion in the IPO at a valuation of $5.5-6 billion, according to a report in The Economic Times. It aims to list before the end of the current fiscal. It had issues bonus shares to its shareholders, realigned its capitalisation table and announced ESOPs to employees, the report said.

Founded in 2011, Delhivery--backed by SoftBank Vision Fund and Carlyle Group Inc., claims that over 850 million orders to more than 300 million households across India have fulfilled by their team.

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