IPO
Dairy products seller Country Delight scouts for bankers for $300-M IPO
Gurugram-based Country Delight has begun early-stage preparations for an initial public offering (IPO) in India that could raise between USD 200-M and USD 300-M. The firm plans to begin pitches to investment bankers in the coming days to select lead managers for the proposed share sale, which is expected to be a combination of fresh equity and an offer-for-sale. The company is also evaluating a potential pre-IPO fundraise to establish a valuation benchmark before filing its draft red herring prospectus.Founded in 2015 by Chakradhar Gade and Nitin Kaushal, the firm operates a direct-to-consumer supply chain for perishable food items, including milk, dairy products, fruits, and vegetables. Country Delight has recently expanded its operations into the quick commerce segment, piloting 10-15-minute deliveries. The company counts Temasek Holdings, Venturi Partners, Orios Venture Partners, Matrix Partners, IIFL Asset Management, and Elevation Capital among its investors.In fiscal year 2024, the firm reported INR 1,380-Cr in revenue, representing a 46% year-on-year increase.
Between Mar 2017 and May 2026, Country Delight had attracted about USD 276 M from Orios VP, Z47, Alteria Capital, 360 ONE, Elevation Capital, SWC Global Fund, Temasek, Trifecta Capital, Venturi Partners and others.
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