Ecom Express sets the ball rolling for Rs 3,000-crore IPO
Ecom Express is looking to enter the primary market with a Rs 3,000 crore initial public offering (IPO), according to two people aware of the development. The third-party logistics company has appointed bankers such as Kotak Capital, IIFL, Axis Capital, and UBS, according to one of the sources.
«Ecom Express has initiated the process for the public issue, which includes both a fresh issue and an offer for sale from the existing investors. The company is likely to file its draft red herring prospectus soon,» said one of the people cited above.
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Offering CollegeCourseWebsiteIIT DelhiCertificate Programme in Data Science & Machine LearningVisitIndian School of BusinessProfessional Certificate in Product ManagementVisitMIT xPROMIT Technology Leadership and InnovationVisitWarburg Pincus holds a 33.76% stake in Ecom Express, while Switzerland-based Partners Group and British International Investment own 17.57% and 6.48% stakes, respectively.
Ecom Express did not respond to ET's queries.
The Gurugram-based Ecom Express, which competes with Delhivery and Xpressbees, as well as Flipkart’s Ekart Logistics and Amazon Transportation Services, deferred its planned public listing in 2022 due to tough market conditions.
About eight startup companies, including Paytm, Nykaa, Zomato, Nazara Technologies, CarTrade, and EaseMyTrip, successfully launched their IPOs in 2020 and 2021. However, due to the poor performance of these IPOs post-listing, only a few, like Delhivery
