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.
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.
( Source : Deccan Chronicle )
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