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The acquisition closed on July 18 and Delhivery said the revenue retention from Ecom Express is tracking ahead of expectations.
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With regulatory clearance now in hand, Delhivery is one step closer to completing one of the most significant logistics mergers in recent memory.
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After posting its first full-year profit in FY25, Delhivery is doubling down on SaaS with Transport One — an AI-powered freight management platform built for India’s manufacturing backbone.
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Delhivery says integration risk is lower as there is almost a '100 percent overlap' in the count of customers, who are familiar with its systems
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Emkay Global said that despite the scale benefits which will be enjoyed by Delhivery post acquisition, there will be significant cost synergies which will have to be realized over the next 12-18 months.
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India’s logistics sector just saw its second major distress deal in under three years. Behind it lies a tale of missed targets, lost clients, and shrinking valuations
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Delhivery’s acquisition of Ecom Express may trigger a wave of consolidation in India’s third-party logistics sector, say analysts.
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Delhivery raises concerns on comparisons made by Ecom on shipment volumes, profitability and capacity metrics
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Ecom Express IPO is a combination of fresh issuance of shares worth Rs 1,284.5 crore, and an offer-for-sale (OFS) of up to Rs 1,315.5 crore by promoters and investor.
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Ajay currently serves as Director & CEO of Bharti Airtel's enterprise arm, Airtel Business and will assume responsibilities at Ecom Express from 1st September, 2023.
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"While $100 million has come as primary, $200 million is secondary," Amitava Saha, founder and chief executive officer, told Moneycontrol in an interaction.
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The move comes on the back of rival Delhivery gearing up to file its draft red herring prospectus with Sebi. Other than Delhivery, Ecom Express competes with the likes of XpressBees and traditional players like Gati, FedEx & Blue Dart
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Under the initiative Ecom Sanjeev Program (ESP), individuals can work in flexible timings to maximise their earnings by delivering e-commerce packages to customers.
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With this portal, the leading technology enabled end-to-end logistics solutions provider is aiming to welcome aboard micro-entrepreneurs, small business owners, sole-proprietors and home-preneurs.
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The company, which had a workforce of about 23,000 in the pre-COVID-19 times, has hired 7,500 people in the last few months to address the increase in online orders during and after the lockdown as people turned to e-commerce to order grocery, medicines and other items.
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“As a provider of logistics services to the e-commerce industry, employees are paramount and a pivot to what we do. In these difficult times, we see an increase in the demand for online shopping across cities and we need to support the scale and size for doorstep deliveries,” Ecom Express Senior Vice President and Chief Human Resource Officer Saurabh Deep Singla said in a statement.
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The average order size daily would be 3.5-3.8 million throughout the 45 day sale period that began this week
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The Delhi-based company, which now covers all PIN codes in six states, also aims to extend full coverage to over 23 states in the next two-and-a-half years.
