Gurugram, April 21: In a major consolidation move within the Indian logistics sector, Delhivery, a leading logistics and supply chain services company, has announced the acquisition of Ecom Express Limited for a purchase consideration of up to ₹1,407 crore in an all-cash deal. The transaction, subject to regulatory approval from the Competition Commission of India, is expected to be completed within six months.
Ecom Express, founded in August 2012 and headquartered in Gurugram, is a prominent end-to-end technology-enabled logistics solutions provider. As of March 31, 2024, the company reported a turnover of ₹2,607.3 crore. Over the past three years, the company’s revenues have seen a steady growth trajectory — from ₹2,090.3 crore in FY22 to ₹2,548.1 crore in FY23 and now ₹2,607.3 crore in FY24.
Delhivery will acquire at least 99.4% of Ecom’s issued and paid-up share capital on a fully diluted basis. Ecom’s authorised share capital stands at ₹2,400 crore, with a paid-up capital of approximately ₹420.73 crore.
This acquisition aligns with Delhivery’s strategy of expanding its scale and enhancing operational efficiencies. Logistics, being a scale-driven industry, benefits significantly from economies of scale, allowing players to improve service quality and reduce costs. Delhivery aims to leverage the acquisition to bolster its capabilities in automation, electric vehicle deployment, network expansion, and research and development — including innovations in robotics and drones.
In addition to technological and network synergies, Delhivery expects the acquisition to stimulate growth across India’s broader logistics vendor ecosystem. The move could inspire greater investments by vendors in fleet expansion, automation solutions, and innovation, thereby strengthening the country’s logistics infrastructure.
Importantly, the acquisition does not fall under the category of a related party transaction. Delhivery is a professionally managed company with no identifiable promoter or promoter group, and Ecom Express is not a related party.
With this acquisition, Delhivery is set to further consolidate its position as one of India’s foremost logistics providers, offering enhanced value to its customers and pushing the envelope for innovation and service quality in the sector.
