SoftBank-backed Delhivery alleges IPO-bound Ecom Express provided misleading data

BENGALURU: SoftBank-backed logistics firm Delhivery has claimed that IPO-bound Ecom Express used misleading data about the company in its draft initial public offering prospectus.

Last month, Ecom Express submitted the draft prospectus and said it had shipped 514.41 million packages in FY24, comparing it with Delhivery which handled 740 million packages during the same period.

Delhivery said in its filings that this comparison is problematic on several counts as “per shipment metrics hugely vary depending on shipment profile – weight profile for Delhivery and peer will be significantly different due to different client mix.”