India's logistics & mobility startups warm up to IPOs as investor interest gathers pace
New Delhi, Sept. 28 -- India's logistics and urban mobility sector is seeing a fresh wave of investor interest, with Porter, Mahindra Last Mile and Rapido exploring plans to go public even as startups continue to raise private capital, according to atleast four people familiar with the matter.
While Mahindra Last Mile Mobility Ltd (MLMML) is meeting with bankers to explore a $200 million listing in FY28, Porter is also targeting a similar timeline and has initiated preparations for a $300-500 million offering, the people said. Both companies have not made any final call or appointed bankers.
Rapido is also among the companies that will begin listing procedures over the next year, likely offering an exit opportunity to existing investors...
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