August 16, 2024
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Ecom Express Ltd Files DRHP for Rs.2,600 Crore IPO with SEBI
Ecom Express Ltd, a prominent express logistics provider based in Gurugram, has submitted its draft prospectus to the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO) aiming to raise Rs.2,600 crore. The initial public offering will feature a fresh issue of equity shares worth Rs. 1,284.50 crore and an Offer for Sale (OFS) of Rs.1,315.50 crore by existing promoters and shareholders, as outlined in the draft red herring prospectus (DRHP).
The company plans to allocate the fresh capital as follows:
- Rs.387.44 crore to establish new processing and fulfillment centers with advanced automation.
- Rs.73.71 crore for purchasing IT equipment and computers.
- Rs.239.23 crore for upgrading technology, data science capabilities, and cloud infrastructure.
- Rs.87.92 crore for debt repayment.
Remaining funds will be used for general corporate purposes and potential acquisitions. Additionally, Ecom Express is considering raising ₹257 crore through a pre-IPO placement, which would reduce the size of the fresh issue accordingly.
Ecom Express operates a robust, nationwide express logistics network providing comprehensive services including first-mile pick-up, mid-mile transportation, last-mile delivery, returns, and warehousing. Utilizing cutting-edge logistics infrastructure and technology, the company connects digital retailers and e-commerce platforms with consumers across India.
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