Delhivery to acquire Ecom Express for Rs 1,407 crore

Third-party logistics company Delhivery is going to acquire Ecom Express for ₹1,407 crore, signalling major consolidation in the Indian logistics space.

The Gurgaon-based Delhivery said the acquisition is going to drive scale, which is crucial for the logistics business both from the cost and operations point of view.

The transaction, which involves the acquisition of an at least 99.4 per cent of the issued and paid-up share capital, on a fully diluted basis, of Ecom is expected to close within 6 months, subject to the approval from the Competition Commission of India, and customary closing conditions.