Delhivery Limited has announced an amendment to its earlier agreement to acquire Ecom Express Limited, revising the stake and purchase price after further negotiations.
In a regulatory filing on July 17, 2025, Delhivery said it will now acquire 99.87% of Ecom Express’s issued and paid-up share capital (on a fully diluted basis) instead of the previously announced 99.4%. The revised purchase consideration for the acquisition is now approximately ₹1,369 crore, down from the earlier announced ₹1,407 crore.
The amendment agreement to the Share Purchase Agreement (SPA), originally signed on April 5, 2025, reflects updated terms after commercial negotiations between the parties.
Key updates:
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Stake to be acquired: 99.87% (earlier 99.4%)
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Revised purchase consideration: ~₹1,369 crore (earlier ₹1,407 crore)
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All other terms and conditions of the SPA remain unchanged.
Earlier in June, the Competition Commission of India (CCI) had approved the acquisition.
Delhivery’s acquisition of Ecom Express aligns with its strategy to strengthen its position in the logistics and express delivery space in India.
