FedEx to invest $100M in SoftBank-backed Indian logistics firm Delhivery

August 01, 2021

FedEx (NYSE:FDX) subsidiary FedEx Express and India-based Delhivery have inked equity and commercial agreements that will utilize their combined strengths to unlock India's international trade potential.

Founded in 2011 by CEO Sahil Barua, Delhivery is a logistics and supply chain services company in India, backed by the SoftBank Vision Fund, Carlyle Group, Fosun International, and others as investors.

As part of the collaboration, FedEx will make a $100M equity investment in Delhivery, and the companies will enter into a long-term commercial agreement.

FedEx Express will focus on international export and import services and Delhivery will sell FedEx Express' international products and services in India and also provide pick-up and delivery services across the country.

FedEx will transfer certain assets pertaining to its domestic business in India to Delhivery.

Additionally, Don Colleran, President and CEO of FedEx Express will be nominated to join the Delhivery Board of Directors.

With an estimated market valuation of nearly $4B, Delhivery raised its biggest round of funding with a $413M investment from SoftBank in 2019 and $277M from Fidelity.

Delhivery is the third venture from SoftBank Group's India portfolio-after PolicyBazaar and Paytm, also backed by Ant Group and Berkshire Hathaway- the latest in a lineup of unicorns that are planning to to go public, making India one of the hottest IPO markets in 2021.

Several Indian startups plans to go public in near term to cash in on liquidity by foreign funds.

Food delivery startup Zomato's IPO subscription - oversubscribed almost 8 times, opened earlier this week and is awaiting listing.

Others in the pipeline include a blockbuster IPO by Walmart-owned e-commerce giant Flipkart, beauty brand Nykaa and ride-hailing service Ola.

For this year FedEx 's revenue will be around 90.97 billion USD. This is according to the average of the analysts' estimates. This is slightly more than 2021's revenue of 83.96 billion USD.

Historical revenues and results FedEx plus estimates 2021

The analysts expect for 2021 a net profit of 5.74 billion USD. For this year the consensus of the result per share is a profit of 21.24 USD. With this the price/earnings-ratio is 13.18.

Per share the analysts anticipate on a dividend of 2.93 USD per share. Thus the dividend yield equals 1.05 percent. The average dividend yield of the transport companies is a limited 1.45 percent.

FedEx 's market value equals around 73.33 billion . 68

Historical stock prices FedEx

On Friday the stock closed at 279.95 USD.

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