In a significant consolidation move within India’s logistics sector, Delhivery Limited has announced its decision to acquire a near-complete stake in Ecom Express Limited. The deal, valued at up to Rs 1,407 crore, will give Delhivery ownership of approximately 99.4 per cent of Ecom Express' equity on a fully diluted basis per mint.
In a regulatory filing on Saturday, Delhivery stated that the Board of Directors of Delhivery Limited, at its meeting held on April 5, 2025, has approved the acquisition of shares amounting to at least 99.4 per cent of Ecom Express Limited for a purchase consideration not exceeding Rs 1,407 crore. The acquisition is subject to regulatory clearance from the Competition Commission of India (CCI). Once approved, Ecom Express will become a subsidiary of Delhivery.
Delhivery's Managing Director and CEO, Sahil Barua, remarked on the strategic importance of the acquisition. “The Indian economy needs consistent enhancements in logistics efficiency, speed, and reach. This acquisition will help us better serve the customers of both companies,” he said.
Ecom Express in Transition: Layoffs and Postponed IPO
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Earlier this year, reports indicated that Ecom Express had laid off around 500 employees and temporarily shelved its IPO plans to focus on cost reduction. Despite a slight increase in operating expenses— Rs 2,921.5 crore in FY24 compared to Rs 2,902.8 crore in FY23—the company managed to reduce its net loss to Rs 255.8 crore from Rs 428.1 crore in the previous fiscal year. Revenues rose marginally by 2.2 per cent to Rs 2,609.2 crore in FY24.
As per its website, Ecom Express employed nearly 15,600 people and served over 27,000 pin codes across the country. The acquisition by Delhivery is expected to bring greater scale and operational synergy to India's growing e-commerce logistics sector.
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