PE Fund Investments
Logistics co. Ecom Express raises $172-M from existing investors
Gurugram-based logistics firm Ecom Express has raised INR 1,424 crore (around USD 172 million) from existing investors, viz. Warburg Pincus, British International Investment (BII), and Switzerland-based Partners Group, via a rights issue. The company is to issue 1.57 million CCPS (compulsorily convertible preference shares) at INR 9,071 a piece.Warburg Pincus holds a 33.76% stake in Ecom Express, followed by Partners Group at 17.57% and British International Investment at 6.48%.Founded in 2012 by Manju Dhawan, K. Satyanarayana, T. A. Krishnan and Sanjeev Saxena, Ecom Express provides logistics solutions to the retail and e-commerce industry.
Between Apr 2013 and Oct 2022, Ecom Express had raised USD 486 M from Oliphans Capital, Peepul Capital, Warburg Pincus, British International Investment and Partners Group.For FY23, Ecom Express had reported INR 2,548.15 Cr in Operating Income and INR 472.45 Cr in Net Loss.
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