Ecom Express files Draft Papers with SEBI for Rs 2,600 Crore IPO
Ecom Express Ltd, a leading player in the Indian e-commerce logistics sector, is set to tap the public markets with an initial public offering (IPO) worth Rs 2,600 crore. The company has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) seeking approval for the share sale.
IPO Details
The IPO comprises a fresh issue of equity shares worth Rs 1,284.5 crore and an offer for sale (OFS) of shares valued at Rs 1,315.5 crore by existing shareholders, including promoters. The company intends to utilize the net proceeds from the fresh issue to fund capital expenditure for setting up new processing centres, technology upgrades, and debt repayment.
Axis Capital Limite, IIFL Securities Limited, Kotak Mahindra Capital Company Limited and UBS Securities India PrivateLimited are the lead managers for the issue, and Link Intime India Private Limited is the registrar.
Company Overview
Founded in 2012, Ecom Express has established itself as a dominant player in the e-commerce logistics space, offering a comprehensive suite of services including first-mile pickup, mid-mile transportation, last-mile delivery, reverse logistics, and fulfilment. With a pan-India network spanning 29 states and 6 union territories, the company serves over 27,000 pin codes.
Industry Outlook
The Indian e-commerce sector has witnessed exponential growth in recent years, driving a corresponding demand for efficient logistics solutions. Ecom Express is well-positioned to capitalize on this burgeoning opportunity, given its strong market presence and robust infrastructure.