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Delhivery anticipates smooth routing of Ecom Express volumes into its network post acquisition
Economic Times
·
3m ago
Medial
Delhivery is acquiring Ecom Express for Rs 1,407 crore, aiming for a smooth integration without needing additional technology adjustments. The acquisition is expected to enhance Delhivery's scale and competitive edge by utilizing overlapping customer bases. This acquisition comes as Ecom Express faces financial struggles, with its previous valuation over Rs 7,000 crore. Delhivery anticipates retaining revenue at high incremental gross margins, reducing overhead costs, and absorbing some Ecom Express employees. Completion is expected in six months pending clearance.
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Delhivery to acquire Ecom Express for Rs 1,407 crore
Economic Times
·
4m ago
Medial
Delhivery, a logistics company, announced its acquisition of rival Ecom Express for Rs 1,407 crore, marking a distress sale for Ecom Express. Ecom Express previously intended to go public but withdrew its plans after receiving approval from SEBI in December 2024.
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CCI approves Delhivery's acquisition of Ecom Express
Economic Times
·
1m ago
Medial
The Competition Commission of India (CCI) has approved Delhivery's acquisition of Ecom Express for Rs 1,407 crore. Delhivery, a new-age logistics firm, announced the cut-price deal in April to buy its rival Ecom Express.
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Delhivery, Ecom Express seek CCI nod for their Rs 1,400-crore deal
YourStory
·
3m ago
Medial
Logistics company Delhivery Ltd and Ecom Express are seeking approval from the Competition Commission of India for a Rs 1,400-crore deal where Delhivery will acquire a controlling stake in Ecom Express. Both companies believe the acquisition won't disrupt competitive dynamics, focusing on enhancing service through investments in infrastructure, technology, and network. The deal underscores the need for advancements in cost efficiency and reach in India's logistics sector, regulated for fair competition by CCI.
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Ecom Express Faces Staff Exodus Ahead of Delhivery Merger; CEO Chitkara May Exit Too
OutlookIndia
·
2m ago
Medial
Ecom Express is facing significant staff departures ahead of its acquisition by Delhivery, valued at Rs 1,400 crore. Around 150 mid-level employees have resigned, and CEO Ajay Chitkara may also exit after regulatory approval. Previously, cash-strapped Ecom Express laid off 500 employees and postponed IPO plans. Delhivery plans to absorb qualified staff from Ecom Express, despite overlapping customer bases and processes. Approval from the Competition Commission of India is pending for the transaction.
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Ecom Express hit by 150 resignations before Delhivery deal: Report
Entrackr
·
2m ago
Medial
Ecom Express hit by 150 resignations before Delhivery deal: Report Around 150 mid-level and regional operations employees have reportedly resigned from Ecom Express ahead of its acquisition by logistics firm Delhivery. According to a Mint report, the resignations come as the company awaits approval from the Competition Commission of India (CCI), which is expected within the next 45 days. The resignations are said to be voluntary; however, the forthcoming integration with Delhivery is anticipated to lead to role redundancies and operational restructuring. Ecom Express CEO Ajay Chitkara and other senior executives are also expected to exit after regulatory clearance, the report added. The development follows Delhivery’s planned acquisition of a 99.4% stake in Ecom Express Limited for a cash consideration of up to Rs 1,407 crore ($169.5 million). Before the acquisition, Ecom Express raised over $290 million in a round. Founded in 2012 and headquartered in Gurugram, Ecom Express is a full-stack, technology-driven logistics company. Delhivery declined to comment on the matter. Ecom Express reported revenue from operations of Rs 1,912 crore during the first three quarters of FY25, according to an internal document reviewed by Entrackr. For context, the company recorded Rs 2,653 crore in revenue for the full fiscal year FY24.
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Ecom-Delhivery deal: A lifeline for one, a power move for the other
Business Today
·
4m ago
Medial
Delhivery's acquisition of rival Ecom Express, valued at ₹1,407 crore, signifies a major development in India's 3PL sector. Ecom Express reported a 2% revenue growth to ₹2,609 crore with a 10% shipment volume increase but faced a 40% rise in net losses, totaling ₹255 crore for FY24. In contrast, Delhivery achieved ₹8,142 crore in revenue with ₹249 crore in losses for FY24 but turned profitable in the first quarter of FY25, reflecting strategic advantage post-acquisition.
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Delhivery in better position than Ecom Express, says report
YourStory
·
11m ago
Medial
Delhivery has a clear advantage over Ecom Express in terms of scale and profitability, according to a report by HSBC Global Research. Delhivery's revenue from express parcel business is 2.2 times higher than Ecom Express' and its total revenue is 3.1 times greater. Delhivery also has a higher adjusted EBITDA margin for its express parcel business. Delhivery focuses on the entire Indian logistics market and has a more diversified business, while Ecom Express is more focused on ecommerce and provides unbundled services. Delhivery's corporate overhead and lost shipment expenses are also lower than Ecom Express'.
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Delhivery Alleges IPO-Bound Ecom Express Used Incorrect Numbers In Its DRHP
Inc42
·
10m ago
Medial
Delhivery has accused Ecom Express of miscalculating its number of shipments for FY24 by including return to origin (RTO) shipments in the total count. Although Delhivery did not explicitly mention Ecom Express, it was evident from the data provided. Delhivery estimated that Ecom Express' shipments for FY24 stood at approximately 450 million when considering the industry average RTO rate of 14-18%.
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Delhivery appoints cofounder Suraj Saharan to board
Economic Times
·
2m ago
Medial
Delhivery appointed co-founder Suraj Saharan to its board as whole-time executive director for a five-year term. Saharan, also the chief people officer, has held various roles within the company. He joins fellow co-founders Sahil Barua and Kapil Bharti on the board. Delhivery recently posted a Rs 72 crore profit in the January-March quarter, amidst moderate revenue growth, and announced the acquisition of Ecom Express for Rs 1,407 crore, despite recent declines in e-commerce volumes and revenues.
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Ecom Express Buyout Expands Delhivery’s Market Share By 25%
Inc42
·
7d ago
Medial
Delhivery's acquisition of competitor Ecom Express has expanded its market share by 25%, according to CEO Sahil Barua. During a Q1 earnings call, Barua noted that Delhivery retained 50-55% of Ecom Express' volume, surpassing the expected 30%. The acquisition impact on Delhivery's Q1 financials was minimal since volume growth appeared late in June. The integration cost of INR 300 Cr will affect financial results in Q2 and Q3.
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