Third-party logistics giant Delhivery Limited has announced plans to acquire a majority stake in Ecom Express Limited for a consideration of up to ₹1,407 crore. The company informed the stock exchanges on Saturday that its Board of Directors has approved the purchase of approximately 99.4% of Ecom Express’s fully diluted share capital.
In its regulatory filing, Delhivery stated, “The Board of Directors of Delhivery Limited, at its meeting held today, has approved the acquisition of shares equivalent to at least 99.4% of the issued and paid-up share capital of Ecom Express Limited for a purchase consideration not exceeding ₹1,407 crore.”
The acquisition is subject to approval from the Competition Commission of India (CCI). Upon completion, Ecom Express will become a subsidiary of Delhivery.
Commenting on the strategic move, Sahil Barua, Managing Director and CEO of Delhivery, said, “The Indian economy demands ongoing improvements in logistics efficiency, speed, and network reach. This acquisition aligns with our goal of better serving customers of both companies.”
Ecom Express’s Cost-Cutting Measures and IPO Status
Earlier this year, reports emerged that Ecom Express had laid off nearly 500 employees as part of a cost-reduction initiative. The company also put its IPO plans on hold, citing unstable market conditions. While the Securities and Exchange Board of India (SEBI) had approved its IPO in December 2024, the company has deferred its launch. The proposed IPO aimed to raise ₹2,600 crore, comprising ₹1,284.5 crore through fresh issuance and the rest via an offer-for-sale.
Financially, Ecom Express saw modest growth in FY24, reporting revenue of ₹2,609.2 crore—up 2.2% from ₹2,553 crore in the previous year. Losses narrowed significantly to ₹255.8 crore from ₹428.1 crore in FY23. The company also reported a slight increase in total expenses, which stood at ₹2,921.5 crore in FY24 compared to ₹2,902.8 crore in FY23.
Ecom Express currently employs around 15,600 people and delivers to over 27,000 pin codes across India, according to its website.
Delhivery’s Expansion Strategy
The acquisition comes on the heels of Delhivery’s recent launch of Rapid Commerce in January 2025—a sub-two-hour delivery service designed to support direct-to-consumer brands and e-commerce platforms. The initiative underscores Delhivery’s commitment to enhancing customer experience by reducing delivery times.
With this strategic acquisition, Delhivery aims to expand its footprint, enhance operational capabilities, and further solidify its position in India’s growing logistics sector.
