Logistics giant Delhivery to acquire Ecom Express Limited at mega ₹1,407 cr deal
India’s one of the leading logistics and supply chain companies, Delhivery, has set its intention to acquire Ecom Express Limited at a whopping ₹1,407 crore. After the acquisition is completed, Ecom Express will become a subsidiary of Delhivery. This strategic move will help Delhivery expand its capabilities in the Indian logistics sector.
Sahil Burua, the Managing Director and CEO of Delhivery, stated the importance of the acquisition and that the speed, cost-effectiveness, and reach of logistics need continuous improvement. Hence, this acquisition will bring value to the service and customers of both companies via investing in infrastructure, technology, networks, and people.
The founder of Ecom Express, K Satyanarayana, expressed optimism about the merger, stating, “This acquisition marks a new growth phase for Ecom Express, and the combined strengths of both companies will drive substantial benefits for businesses across India and the logistics industry as a whole.”
Ecom Express is headquartered in Gurugram and was established in 2012. The company reported revenue of ₹2,090 cr in FY22, ₹2,548 cr in FY23, and ₹2,607 cr in FY24, which has shown stable growth over the years.
The acquisition is yet to be approved by the Competition Commission of India. It is expected to be finalized in six months. Shardul Amarchand Mangalas has been appointed as the legal advisor by Delhivery. Ernst & Young will look after the financial and tax due diligence related to the transaction.
The acquisition of Ecom Express is a significant step for Delhivery to further strengthen its position in the Indian market by taking advantage of Ecom’s network and expertise.
“The board has approved the execution of a share purchase agreement between the company, Ecom Express, and its shareholders, along with other necessary transaction documents.” – Delhivery stated in the regulatory filing.
- India suspends Indus Waters Treaty, Pakistan faces water crisis threat
- Devyani International to acquire homegrown chain Biriyani by Kilo
- AHS India appoints the new Deputy Vice President, Dinesh Dahiya
- Dozee secures 70 cr to advance contactless patient monitoring and global expansion
- Vineet Sethi to lead Tamarind Global as CBO
