Logistics startup Delhivery has appointed three new independent directors Romesh Sobti, Kalpana Morparia and Saugata Gupta to its board. It also elevated an existing one to the post of chairman ahead of its initial public offering (IPO).

Currently, the company has five independent directors including former PwC India head Deepak Kapoor, who has been appointed as the chairman of the board and Bain & Co. partner Sri Rajan. It also plans to add another woman independent director to the board.

Delhivery was founded by Mohit Tandon, Bhavesh Manglani, Sahil Barua, Suraj Saharan and Kapil Bharati. It is an end-to-end logistics and supply chain services company. Its shareholders include Times Internet, Nexus Venture Partners, Tiger Global and CPPIB.

Delhivery turned into a public company ahead of the filing of its IPO papers with the Securities and Exchange Board of India (Sebi).

Documents sourced by Tofler showed that Delhivery Private Ltd is now Delhivery Ltd.

The firm is planning to raise close to $1 billion in the IPO at a valuation of $5.5-6 billion. It has realigned its capitalisation table and announced ESOPs to employees. It has over 17,000 customers including SMEs, large and small eCommerce participants and other enterprises.

Last month, the company said Lee Fixel, a former partner at New York-based investment firm Tiger Global has invested a total of $125 million through its fund addition. Earlier in June, the company said it had raised $275 million from investors led by GIC and Fidelity.

Manglani and Tandon have been “reclassified” as “retiring/non-active promoters” for their stake in Delhivery.