Logistics unicorn Delhivery’s shares rallied 3.02% to INR 335 apiece during the intraday trading session on the BSE
The startup is also planning to expand its rapid commerce across other metro cities, including Hyderabad, Chennai and Delhi NCR
The service addresses needs of brands across categories such as beauty and personal care, apparel and fashion
Logistics unicorn Delhivery’s shares rallied 3.02% to INR 335 apiece during the intraday trading session on the BSE today (January 16) after it launched a two hour delivery service for brands.
The pilot programme was first launched in Bengaluru, already processing over 300 orders daily.
With the surge in share price, the company’s market capitalisation stood at INR 24,660 Cr, with 15.42 Lakh trading volume at 1:40 PM.
Founded in 2011 by Sahil Barua, Mohit Tandon, Bhavesh Manglani, Suraj Saharan and Kapil Bharati, Delhivery
is a transportation, supply chain and logistics company. The logistics giant competes against the likes of Xpressbees, Blue Dart, Flipkart’s Ekart Logistics and Amazon Shipping.
“With rapid commerce, leading D2C brands can create a superior direct experience and greater control over customer loyalty. Brands can provide consumers faster access to a vast catalogue of products at efficient costs by using our network of shared in-city Rapid Stores, ” said Ajith Pai, chief operating officer at Delhivery.
The startup is also planning to expand its rapid commerce across other metro cities, including Hyderabad, Chennai, NCR, Mumbai, Pune and Ahmedabad in the coming months.
The service addresses needs of brands across categories such as beauty and personal care, apparel and fashion, electronics and accessories, which are reliant on standard ecommerce delivery timelines, to reach consumers within hours of the order being placed on their platform.
This development comes after Logistics major Delhivery expanded the pool size of its employee stock option plan (ESOP) with a fresh allotment of 4.90 Lakh stock options.
In the same month the company granted 11,21,541 stock options to eligible employees under its three different employee stock option plans (ESOP).
Meanwhile in August last year, Delhivery planned to launch a network of multi-tenant dark stores for “rapid in city delivery” for ecommerce companies.
