Delhivery Secures Major Stake in Ecom Express for Rs 1,400 Crore
The Competition Commission of India (CCI) approved Delhivery's acquisition of a 99.44% stake in Ecom Express for Rs 1,400 crore. The acquisition aims to enhance Delhivery's logistics capabilities in the Indian e-commerce sector. Ecom Express reported a turnover of Rs 2,607.3 crore in 2023-2024.
- Country:
- India
Delhivery has received the green light from the Competition Commission of India (CCI) to acquire a 99.44% majority stake in Ecom Express. This acquisition, valued at approximately Rs 1,400 crore, is set to significantly bolster Delhivery's capabilities in the logistics sector.
According to a recent CCI announcement, the deal will see Delhivery integrate Ecom Express into its operations, thereby enhancing its value proposition and expanding its presence in the Indian logistics market. The decision follows Delhivery's strategic goal of scaling operations for better service delivery.
Ecom Express, based in Gurugram, reported a turnover of Rs 2,607.3 crore for the fiscal year 2023-2024. The acquisition, which exceeds a particular threshold, required regulatory approval to ensure compliance and foster healthy market competition.
(With inputs from agencies.)
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