Delhivery Limited announced on April 5, 2025, its decision to acquire a 99.4% stake in Ecom Express Limited for a total consideration not exceeding INR 1,407 crore. The acquisition will be completed through an all-cash deal, with the Share Purchase Agreement (SPA) already approved by the Board.
Ecom Express, headquartered in Gurugram, Haryana, boasts an authorized share capital of INR 2,400 Crore and a paid-up capital of INR 420.73 Crore. With a turnover of INR 26,073 million as of March 31, 2024, Ecom has shown steady growth over the past three years—INR 20,903 million in 2022 and INR 25,481 million in 2023. Incorporated in August 2012, Ecom specializes in end-to-end logistics solutions, aligning seamlessly with Delhivery’s core business.
This acquisition aims to bolster Delhivery’s scale, enhancing service quality and competitiveness in the logistics sector. By leveraging economies of scale, Delhivery plans to invest in network expansion, automation, electric vehicles, and R&D, including robotics and drones. The move is also expected to stimulate growth in India’s vendor ecosystem, benefiting fleet and automation solution providers.
The all-cash deal, executed via a Share Purchase Agreement, is not a related party transaction, as Delhivery operates without an identifiable promoter group, and Ecom is currently independent of Delhivery’s affiliates. This acquisition strengthens Delhivery’s position as a logistics powerhouse, promising improved efficiency and innovation for clients across India.
