Ecom Express Files Papers For Rs 2600 crore IPO

Update: 2024-08-16 16:19 GMT

Ecom Express, a courier company has filed its draft red herring prospectus with market regulator Securities and Exchange Board of India to raise funds through initial public offerings of total issue size of equity shares aggregating up to Rs 2,600 crore. (Image: X.Com)

Mumbai: Ecom Express, a courier company has filed its draft red herring prospectus with market regulator Securities and Exchange Board of India to raise funds through initial public offerings of total issue size of equity shares aggregating up to Rs 2,600 crore.

The offer comprises of fresh issue of equity shares aggregating up to Rs 1284.50 crore and offer for sale by selling shareholders aggregating up to Rs1315.50 crore.

Ecom Express is a pure-play B2C e-commerce logistics solutions provider focusing exclusively on B2C e-commerce shipments for clients like Amazon, Nykaa among others. "The company has served over 1 lakh online sellers, delivering nearly 2 billion shipments to 97 per cent of Indian households," as per information made available on company portal.

The company proposes to utilize the net proceeds from fresh issue towards funding – capital expenditure towards set-up of new processing centers, Investing in enhancement of technological and data science capabilities, repayment of certain borrowings availed by Company and general corporate purposes.

Ecom Express Files Papers For Rs 2600 crore IPO

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