Gurugram-based, logistics unicorn Delhivery Pvt. Ltd. is planning to go public by launching it’s Initial Public Offering (IPO) in over the next 12-18 months, said a top executive. The SoftBank-backed startup is waiting for the upcoming rules on the foreign listing, but would prefer to be listed in India, said Chief Business Officer Sandeep Barasia.

Barasia said in an interview that the company had approached consultants and advisory firms earlier for planning a listing. He added, “Two years ago, when we were trying to go public, it so happened that the timing of our decision to go public coincided with the Indian general elections, and it was probably not the best time to go public because a lot of focus was going to be on elections…plus, there was already an available private capital pool, so we basically, pushed it back. Our view is that in the next 12-18 months, we see us going back into the public market”.

Zomato, Paytm, InMobi, Ola, Grofers, PolicyBazaar, PhonePe, MobiKwik and Lenskart are among other Indian startups that are currently looking to go public. However, Delhivery may face some regulatory issues, including profitability track record and may have to wait for some time for its business clarity in the upcoming guidelines.

The company had earlier raised $413 million in its Series F round led by the SoftBank Vision Fund, valued at $1.5 billion, along with existing investors Carlyle Group and Fosun International.

Last year, Delhivery set up SVF Doorbell (Cayman) Ltd., for holding investments from SoftBank Vision Fund LP, which currently owns 25% of Delhivery’s India Unit. Recently, Delhivery amended its Articles of Association (AoA) for including the scope of a public listing, as per the documents sourced from Company’s Registrar.