Delhivery Declares Incorporation Of Wholly Owned Subsidiary

Delhivery, a leading logistics solutions provider, disclosed on Friday the decision of its Board of Directors to incorporate a Wholly Owned Subsidiary in India.

The announcement, made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, signifies a strategic move aimed at expanding the company's operational capabilities and diversifying its business portfolio.

At the board meeting held on Friday, 17 May 2024, the Directors deliberated on various agenda items, including the proposed incorporation of the subsidiary.

Delhivery stated in an exchange filing, "The Board of Directors has approved the incorporation of a Wholly Owned Subsidiary in India, in accordance with the regulatory requirements. This strategic move aligns with our long-term vision of strengthening our presence in the logistics industry and exploring new avenues for growth."

The subsidiary, once established, will engage in the manufacturing of drones and freight air transport services, aiming to revolutionise the logistics sector with cutting-edge technology solutions. The proposed entity will serve as a platform for conducting research and development in UAV technology, offering drone-based services for shipment movement and remote sensing, providing UAV pilot training, and engaging in drone manufacturing for global markets.

The incorporation of Delhivery Robotics India underscores Delhivery’s commitment to innovation and its vision of becoming a leader in the emerging drone technology space. The company remains dedicated to delivering seamless logistics solutions and driving operational excellence to meet the evolving needs of its customers.