Delhivery Limited Board has approved the acquisition of nearly 99.4% shares of Ecom Express Limited for ₹1,407 Crore.
“We wish to inform you that the board of directors of Delhivery Limited (“the Board” and “the Company”, respectively) at its meeting held today, ie, April 5, 2025, inter-alia, has considered and approved the acquisition of shares equivalent to at least 99.4% of the issued and paid up share capital, on a fully diluted basis, of Ecom Express Limited (“Ecom” Company”), for a purchase consideration not exceeding INR 1,407 Crore,” the company said in an exchange filing on Saturday, April 5.
Following the acquisition process, Ecom Express will become a subsidiary of Delhivery.
In February, Mint reported that Ecom Express had laid off nearly 500 employees and paused its plans to launch an initial public offering (IPO) of its shares in an attempt to cut costs.
