Ecom Express Files DRHP To Raise Rs 2,600 crore Via IPO

Ecom Express has filed for an initial public offering aiming to raise up to Rs 2,600 crore. According to its draft red herring prospectus, the logistics startup plans to issue fresh shares valued at Rs 1,284.5 crore. Additionally, promoters and other investors intend to sell shares worth up to Rs 1316 crore. Each equity share has a face value of Re 1.

The transaction will be managed by Axis Capital, IIFL Securities, Kotak Mahindra Capital Company, and UBS.

This is the company’s second attempt at public listing. In February 2022, the Gurugram-based company finalised on an Rs 4,860 crore IPO. However, it shelved those plans later that year on account of bearish market sentiments. Founded in 2012 by the late TA Krishnan, Manju Dhawan, K Satyanarayana and Sanjeev Saxena, Ecom Express has 3,000 delivery centres spanning 9.6 million square feet of space. It delivers packages to 27,000 pin codes in 2,700 cities across the country.