Delhivery Limited has announced the liquidation of its step-down wholly owned subsidiary, Delhivery Bangladesh Logistics Private Limited (“Delhivery Bangladesh”). The decision was approved at the company’s Board of Directors meeting held today.
Delhivery Bangladesh, which operates under Delhivery Singapore Pte. Limited, has not contributed to the company’s turnover or revenue, and its net worth stood at (-₹31.94 lakh) as of December 31, 2024. Given its insignificant impact on Delhivery’s financial performance, the Board decided to proceed with liquidation, streamlining international operations.
Key Details of the Liquidation
- No revenue contribution: Delhivery Bangladesh has had nil turnover and does not impact the company’s financials.
- Expected completion: The liquidation process is expected to be completed within one year, subject to regulatory approvals in Bangladesh.
- Impact on Delhivery: The subsidiary’s dissolution will not affect Delhivery’s overall operations, as it is a non-material entity.
- Financial Settlement: Upon liquidation, any net realizable assets, post-liabilities, will be transferred to Delhivery Singapore.
“The decision to liquidate Delhivery Bangladesh aligns with our strategy to optimize our international operations. Given that the subsidiary has not contributed to revenue and has a minimal financial impact, this step allows us to streamline our business model and focus on core growth areas,” the company stated in its filing.
Delhivery continues to expand its presence in India and other key international markets while optimizing operations to enhance profitability. The company remains committed to sustainable growth and strategic expansions in high-impact logistics sectors.
