Logistics major Delhivery has announced the acquisition of rival Ecom Express Limited for a consideration of up to Rs. 1,407 crore. The deal, approved by Delhivery’s board, will see Ecom Express become a subsidiary following the completion of all formalities within six months of executing the Share Purchase Agreement (SPA), unless extended.
Delhivery CEO Sahil Barua said the acquisition would enhance service capabilities through stronger investments in infrastructure, technology, and talent. Ecom Express founder K. Satyanarayana echoed the sentiment, stating that Delhivery’s scale would help unlock the next phase of growth.
The acquisition follows a dispute last year, where Delhivery accused Ecom Express of misrepresenting key shipment and profitability metrics in its DRHP. Delhivery clarified that it counts returned shipments as a single unit, while Ecom records them as two, inflating shipment volumes. It also highlighted differences in customer mix and parcel weight profiles between the two firms, citing Delhivery’s lower customer concentration and heavier average parcel weight.
