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Delhivery acquires Ecom Express for Rs.1,407-Cr
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Publicly-listed logistics company Delhivery has acquired fellow Gurugram-based logistics firm Ecom Express for INR 1,407 crore in cash.Incorporated in 2012, Ecom Express is an end-to-end logistics solutions provider to the retail and e-commerce industry, providing first-mile pickup, processing, network operation, last mile delivery, reverse logistics and returns management services.Shardul Amarchand Mangaldas & Co. acted as the legal advisor and Ernst & Young as the financial and tax diligence advisor to Delhivery on this transaction.Ecom Express operates over 3420 delivery centres across India, with over 15,600 employees.
Between Apr 2015 and Jun 2024, Ecom Express had attracted about USD 650 M from Warburg Pincus and British International Investment .For FY24, Ecom Express had reported about INR 2,607.30 Cr in Operating Income and about INR 247.61 Cr in Net Loss.
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