Logistics startup, Delhivery will acquire Ecom Express Limited for Rs 1,407 crore. The company said on Saturday, April 5, that its Board has approved to buy nearly 99.4% of shares of Ecom Express. However, the complete acquisition is subject to approval from the Competition Commission of India (CCI). After the acquisition is complete, Ecom Express will become a subsidiary of Delhivery.
“We wish to inform you that the board of directors of Delhivery Limited (“the Board” and “the Company”, respectively) at its meeting held today, ie, April 5, 2025, inter-alia, has considered and approved the acquisition of shares equivalent to at least 99.4% of the issued and paid up share capital, on a fully diluted basis, of Ecom Express Limited (“Ecom”/”Target Company”), for a purchase consideration not exceeding INR 1,407 Crore,” said Delhivery in an exchange filing.
“The Indian economy requires continuous improvements in cost efficiency, speed and reach of logistics. We believe this acquisition will enable us to service customers of both companies better,” said Sahil Barua, MD and CEO, Delhivery.
Delhivery To Acquire Ecom Express: Layoffs
Ecom Express laid off around 500 employees and put its initial public offering (IPO) plans on hold in February as part of a cost-cutting effort, reported the Mint in February.
Ecom Express’s expenses slightly increased to Rs 2,921.5 crore in FY24 from Rs 2,902.8 crore in FY23. However, the company reported a 2.2% revenue growth to Rs 2,609.2 crore in FY24, and its losses narrowed to Rs 255.8 crore from Rs 428.1 crore in the previous year.
Ecom Express had nearly 15,600 employees and associates and delivered goods to more than 27,000 pin codes, according to the company’s website.
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