FedEx to invest ₹746 crore in logistics firm Delhivery ahead of IPO

FedEx's subsidiary, FedEx Express, has agreed to invest ₹746.09 crore ($100 million) in logistics firm Delhivery, which is set to go public soon. While FedEx Express will manage international import and export services to and from India, Delhivery will sell FedEx Express' products and services in the country. FedEx will also transfer some assets from its India business to Delhivery.