Delhivery Limited (NSEI:DELHIVERY) agreed to acquire Algorhythm Tech Private Limited for approximately INR 150 million on December 19, 2022. The Consideration will be paid in cash. Upon completion of the acquisition, Algorhythm Tech will become wholly owned subsidiary of the Company. The acquisition will be funded from the proceeds raised through the initial public offer. Algorhythm Tech Private Limited Reported a Turnover of INR 360 million (36 crores) in FY22. The transaction has been Approved by Delhivery's Board of Directors. The transaction is expected to Close on January 31, 2023.

Delhivery Limited (NSEI:DELHIVERY) completed the acquisition of Algorhythm Tech Private Limited on January 13, 2023.