Delhivery has signed a definitive agreement to acquire a controlling stake in Ecom Express for a cash consideration of ~ ₹1,400 crore.

Shardul Amarchand Mangaldas & Co advised Delhivery on this transaction. The transaction was was led by Raghubir Menon, Regional Practice Head - M&A and Private Equity, General Corporate  of the firm.

Ernst & Young conducted financial and tax diligence.

The acquisition is aimed at integrating Ecom Express’s operations with Delhivery’s to strengthen logistics capabilities across the country. The deal is subject to regulatory approvals, including clearance from the Competition Commission of India, and other customary closing conditions.

Delhivery Limited is a fully-integrated logistics services provider in India, operating a nationwide network that spans over 18,700 pin codes. The company offers a wide range of logistics solutions including express parcel transportation, partial truckload (PTL) and full truckload (TL) freight, cross-border logistics, supply chain services, and technology-driven logistics support. Since its inception, Delhivery has completed over 3.4 billion shipments and serves more than 39,000 customers, including e-commerce platforms, small and medium enterprises, and large brands.

Ecom Express Limited is a technology-enabled logistics company focused on the Indian retail and e-commerce sectors. Established in 2012 by Manju Dhawan, K. Satyanarayana, the late T. A. Krishnan, and the late Sanjeev Saxena, the company provides end-to-end logistics services such as first-mile pickup, processing, network operations, last-mile delivery, reverse logistics, and fulfillment solutions. Ecom Express has delivered close to 2 billion shipments and claims to cover 97% of Indian households through its operational network.

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