Delhivery Incorporates Wholly Owned Fintech Subsidiary to Expand Financial Services Offerings

Delhivery Limited has announced the incorporation of a wholly owned subsidiary (WOS), Delhivery Fintech Distribution Private Limited, in India. The Board of Directors approved this development at its meeting held on Saturday, May 16, 2026, which commenced at 01:00 P.M. (IST) and concluded at 03:55 P.M. (IST). The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Key Details of the Subsidiary Incorporation

The following table summarises the key parameters of the proposed wholly owned subsidiary as disclosed by the company:

Parameter:	Details
Proposed Entity Name:	Delhivery Fintech Distribution Private Limited
Country of Incorporation:	India
Relationship with Listed Entity:	Wholly Owned Subsidiary (WOS) of Delhivery Limited
Industry:	Financial Services and allied services
Nature of Consideration:	100% subscription to share capital in cash
Cost of Subscription:	INR 1,00,00,000/- (Rupees One Crore Only)
Shareholding to be Acquired:	100% share capital (Company along with its nominee)
Regulatory Approvals Required:	No, except approval of competent authority, if required

Business Purpose and Scope

The new subsidiary is being established as a distribution-focused financial and allied services arm, intended to function as a financial layer supporting Delhivery's logistics network. It is designed to leverage the company's reach and partner ecosystem to enhance liquidity access, mitigate risk, and improve operational efficiency across the value chain.

The proposed entity's business activities will include:

Insurance Corporate Agent business
Distribution of payment solutions such as FASTags and Fuel Cards
Distribution of Telematics devices for truckers
Other sector-specific products tailored for vendors, truckers, last mile delivery agents, and MSMEs

Disclosure and Compliance

The disclosure was filed in accordance with Regulation 30 read with events specified in Part A of Schedule III of the SEBI Listing Regulations, as well as Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026. The company noted that a slight delay in filing the disclosure occurred due to internet connectivity issues, including frequent disconnections and intermittent network disruptions. The disclosure has also been uploaded on the company's website at www.delhivery.com . The filing was signed by Madhulika Rawat, Company Secretary & Compliance Officer (Membership No.: F8765).

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-1.14%	-4.83%	-5.18%	+6.98%	+28.58%	-16.55%

Delhivery Limited has announced the elevation of six senior leaders to Executive leadership positions, effective May 16, 2026. The appointments, made in compliance with Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015, underscore the company's continued growth trajectory and organisational maturity. Described as India's largest logistics services provider, Delhivery serves over 51,000 clients across services including e-commerce parcel transportation, PTL and FTL freight, cross-border air express, warehousing, and supply chain solutions. The newly designated Key Managerial Personnel (KMP) will oversee critical functions including network operations, engineering, procurement, sales, and corporate strategy.

Leadership Appointments Across Key Roles

The six executives appointed to the C-suite bring extensive experience from within the organisation. The following table summarises the new designations:

Executive:	Designation
Mr. Arun Bagavathi	Chief Operating Officer – Network Operations
Mr. Prashant Gazipur	Chief Operating Officer – In-city Operations
Mr. Nikhil Ummat	Chief Operating Officer – Engineering and Automation
Mr. Sunny Raja	Chief Procurement Officer
Mr. Varun Bakshi	Chief Sales Officer
Mr. Vikas Kapoor	Chief Strategy Officer

Strategic Responsibilities and Profiles

Mr. Arun Bagavathi will hold enterprise-wide accountability for the end-to-end performance and efficiency of Delhivery's nationwide logistics network. He has previously led the company's network operations, fleet management, and control tower functions.

Mr. Prashant Gazipur will lead all city-level operations strategy, including building out last-mile franchise pickup and drop operations. He has driven last-mile operations across Delhivery's urban delivery network and has been instrumental in scaling the company's last-mile reach and capacity.

Mr. Nikhil Ummat is tasked with driving the company's engineering and automation infrastructure strategy. He has led automation initiatives and fulfillment centre operations, and has been at the forefront of the company's proprietary drone and robotics programme under Delhivery Robotics.

Mr. Sunny Raja, as Chief Procurement Officer, will take on broader accountability for effective capex strategy, partner management, and commercial optimisation. He has led Delhivery's commercials and procurement function, building scalable and cost-efficient supply-side capabilities.

Mr. Varun Bakshi will lead the overall direct and cross-selling strategy across all business lines and customer segments. He has been instrumental in scaling Delhivery's Part Truckload (PTL) business and building long-term enterprise relationships with leading brands across categories.

Mr. Vikas Kapoor will shape the company's long-term strategic priorities, identify new growth opportunities, and drive cross-functional alignment. He has led Delhivery's Full Truckload (FTL) business and brings strong commercial and market understanding.