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CPPIB plans to invest $115 million in logistics provider Delhivery

Delhivery operates in over 2,000 cities and towns

Ranju Sarkar  |  New Delhi 

Delhivery
Following the investment, CPPIB will have one seat on Delhivery's board of directors

Canada Pension Plan Investment Board (CPPIB) has said it is putting $115 million (about Rs 820 crore) in Delhivery, one of India’s leading third-party logistics providers.

operates in over 2,000 cities and towns, offering a range of supply chain services. “The continued strong growth of e-commerce has generated significant opportunities in India's express logistics space for long-term investors such as and we are pleased to partner with a market leader,” said Deborah Orida, senior managing director and global head of active equities at

The investment was made through CPPIB’s Fundamental Equities Asia Group. The latter’s stated aim is fundamental research and investment in quality for the long term in this continent.

Sahil Barua, founder and chief executive of Delhivery, said: “Last year has been particularly exciting for us at We crossed 17,500 pin codes across India, launched three businesses, created over 10,000 jobs and delivered financial returns and liquidity for our early-risk investors, while bringing in an incredible set of patient partners who will continue to back us on our long-term ambition.”

CPPIB’s investment coincides with a major milestone for the company as we cross over 500 million in cumulative shipments to date.”

Following the investment, will have one seat on Delhivery's board of directors.

''CPPIB has been active on the ground in India for nearly a decade and we continue to pursue opportunities to invest in the country as part of our focus on emerging markets. In Delhivery, we have found a highly reputable partner who fits well with our focus on supporting high-growth businesses,'' said Alain Carrier, senior managing director and international head at CPPIB.

At end-June, its equity investments in India totalled C$9.9 billion (nearly Rs 54 trillion) across all asset classes. CPPIB is a professional investment management organisation; it deploys the funds not needed by the Canada Pension Plan (CPP) to pay current benefits in the perceived best interest of its 20 million contributors and beneficiaries. It invests in public and public equity, real estate, infrastructure and fixed income instruments.

Headquartered in Toronto, with offices in Hong Kong, London, Luxembourg, Mumbai, New York City, San Francisco, São Paulo and Sydney. CPPIB is governed and managed independently of the CPP and at arm's length from governments. At end-June, the CPP fund totalled $400.6 billion.

provides a range of logistics services such as express parcel transportation, LTL and FTL freight, reverse logistics, cross-border, warehousing and technology services. It says it works with over 10,000 direct customers, which include large and small e-commerce participants, as also around 350 leading enterprises and brands.

First Published: Mon, September 09 2019. 21:19 IST
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