Delhivery to acquire Ecom Express for ₹1,407 crore amid layoffs and pause on IPO plans | Company Business News

Third-party logistics company Delhivery will acquire Ecom Express Limited for ₹1,407 crore. The company informed the exchanges on Saturday, April 5, that the Board has approved to buy nearly 99.4% of shares of Ecom Express.

“We wish to inform you that the board of directors of Delhivery Limited (“the Board” and “the Company”, respectively) at its meeting held today, ie, April 5, 2025, inter-alia, has considered and approved the acquisition of shares equivalent to at least 99.4% of the issued and paid up share capital, on a fully diluted basis, of Ecom Express Limited (“Ecom”https://www.livemint.com/”Target Company”), for a purchase consideration not exceeding INR 1,407 Crore,” the company said in an exchange filing.

Following the acquisition process, Ecom Express will become a subsidiary of Delhivery.

In February, Mint reported that Ecom Express had laid off nearly 500 employees and paused its plans to launch an initial public offering (IPO) of its shares in an attempt to cut costs.