Delhivery Ropes In Former Ecom Express Exec Prashant Gazipur As Senior VP

Logistics unicorn Delhivery has roped in Prashant Gazipur as senior vice president for operations.

As per PTI’s report, Gazipur will be responsible for capacity building and increasing efficiency in Delhivery’s pickup and delivery operations. 

Prior to this appointment, Gazipur served as the country head (operations) and chief process officer at Ecom Express Limited. 

As per his linkedin profile, he has also served in various leadership positions at Paytm and Amazon.

The development comes at a time when Canada Pension Plan Investment Board (CPPIB) exited Delhivery by selling its 2.34 Cr shares, accounting to 3.18% stake in the company in an INR 910.2 Cr deal.

This came just a day after Delhivery expanded its employee stock option plan (ESOP) pool by allocating over 6.49 Lakh stock options.

Not just this, the board of Delhivery recently approved to alter the capital clause of the Memorandum of Association (MoA) of the company. The step is taken to reclassify unutilised preference share capital into equity share, subject to shareholder approval at the upcoming annual general meeting.

The listed startup is also planning to foray into the freight air transportation services sector. On July 3, the company received the approval from the Ministry of Corporate Affairs (MCA) to incorporate its drone subsidiary called ‘Delhivery Robotics India Private Limited’. The new entity will offer drone as a service (DaaS) for shipment movement and remote sensing.

The company reported a consolidated net loss of INR 69 Cr in the March quarter after being maiden profitable in Q3 of FY24.