Wednesday, April 30, 2025

Creating liberating content

Stock market holiday (AI image) Stock market holidays 2025: Indian

Related News

Pakistan and the IMF reached an agreement in July 2024 for a $7-billion package under the extended fund facility. (AI image) India-Pakistan tensions escalate: India may challenge a proposed $1.3-billion

File Photo: Jairam Ramesh NEW DELHI: Amid BJP’s criticism of the Congress for its now-deleted “Gayab” (missing) social media post on Prime Minister Narendra Modi, Congress general secretary in-charge for

Gold’s ability to deliver high long-term returns significantly declines over time. (AI image) By Chethan ShenoyGold buying on Akshaya Tritiya: Traditionally, Gold has always been considered a safe haven asset

Stock market holiday (AI image) Stock market holidays 2025: Indian stock exchanges, including the National Stock Exchange (NSE) and the BSE, will remain closed on Thursday, May 1, 2025, observing

NEW DELHI: The government on Wednesday reconstituted the National Security Advisory Board and appointed former R&AW chief Alok Joshi as its Chairman.Other members include former Western Air Commander Air Marshal

Akshaya Tritiya 2025 Bank Holiday: Banks will operate normally across all states except one on Wednesday, April 30, 2025, for Basava Jayanti and Akshaya Tritiya. It is an an auspicious

Trending News

Pakistan and the IMF reached an agreement in July 2024 for a $7-billion package under the extended fund facility. (AI image) India-Pakistan tensions escalate: India may challenge a proposed $1.3-billion

Akshaya Tritiya 2025 Bank Holiday: Banks will operate normally across all states except one on Wednesday, April 30, 2025, for Basava Jayanti and Akshaya Tritiya. It is an an auspicious

The performance of dollar bonds shows a decline of nearly 4% this month. (AI image) Pakistan’s dollar bonds and equities are heading towards their poorest monthly performance since 2023, with

First-quarter US GDP figures to be released on Wednesday are expected to reveal a sharp slowdown — and possibly signal a recession — due to a spike in imports rushed

Representational AI image Asian markets moved in different directions on Wednesday with countries like Japan and Taiwan registering small gains, following a strong performance on Wall Street the previous day.However,

MUMBAI: With total fund mobilisation at $2.8 billion, India was among the top markets for IPOs during the Jan-March period, a report by global consultancy major EY said. India had

Delhivery to acquire Ecom Express for Rs 1,407 crore in all cash deal

Word Count: 715 | Estimated Reading Time: 4 minutes


Delhivery to acquire Ecom Express for Rs 1,407 crore in all cash deal

In a big move for the logistics industry, Delhivery has announced its acquisition of Ecom Express in an all-cash deal valued at Rs 1,407 crore.
This deal, which marks the largest consolidation in the sector, comes at a time when Ecom Express has been grappling with financial difficulties and has recently cancelled its plans to go public.
According to an ET Tech report, once considered a strong competitor to Delhivery, Ecom Express was last valued at over Rs 7,000 crore in June 2024 but has struggled with operational challenges in recent months.
Through this acquisition, private equity firms Warburg Pincus, Partners Group, and British International Investment will completely exit their investments in Ecom Express. For Delhivery, the deal represents a strategic move to increase its scale and strengthen its competitive position in the fast-evolving logistics market.
Sahil Barua, Managing Director and CEO of Delhivery, expressed confidence in the move, stating, “The Indian economy needs continuous improvements in logistics cost efficiency, speed, and reach. This acquisition will help us serve the customers of both companies better by making bold investments in infrastructure, technology, and our network.”
Delhivery, with Rs 5,488 crore in cash and cash equivalents as of September 30, 2024, is well-positioned to finance the acquisition. The deal is still subject to approval from the Competition Commission of India (CCI) but is expected to close in the next six months. After the acquisition, Ecom Express will operate as a subsidiary of Delhivery.
The deal marks the end of Ecom Express’s IPO ambitions. The company had previously filed a draft prospectus in August 2024, seeking to raise Rs 1,284.5 crore in fresh capital while also offering Rs 1,315.5 crore in secondary stake sales. However, the deteriorating market conditions led to the postponement of these plans.
In the lead-up to the acquisition, Ecom Express had already begun consolidating its operations, shutting down several delivery hubs, and laying off hundreds of employees. Delhivery had also raised concerns about Ecom Express’s financial practices, accusing its rival of inflating its operational metrics, particularly by double-counting return-to-origin shipments, which inflated the company’s reported volumes.
Ecom Express has faced further challenges following the death of its cofounder, T. A. Krishnan, in October 2023. Krishnan, who helped establish the company in 2012 and played a vital role in shaping India’s e-commerce logistics landscape, had stepped back from day-to-day operations over a year before his passing.





Source link

Most Popular Articles

Sign In

Welcome ! Log into Your Account