Bookbuilding IPO | ₹2,600 Cr | Listing at BSE, NSE |
Ecom Express Ltd. has withdrawn its Initial Public Offer (IPO) documents filed with SEBI on May 1, 2025.
Ecom Express Ltd. IPO was a Book Build Issue of ₹2,600.00 crores consisting of a fresh issue of shares worth Rs ₹1,284.50 crores and an offer for sale (OFS) of ₹1,315.50 crores.
The equity shares were proposed to be listed on NSE and BSE. Axis Capital Ltd. was the book running lead manager and MUFG Intime India Pvt.Ltd. was the registrar of the issue.
| IPO Date | [.] |
| Listing Date | [.] |
| Face Value | ₹1 per share |
| Price Band | |
| Lot Size | |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | [.] shares (agg. up to ₹2,600 Cr) |
| Fresh Issue | [.] shares (agg. up to ₹1,285 Cr) |
| Offer for Sale | [.] shares of ₹1 (agg. up to ₹1,316 Cr) |
| Share Holding Pre Issue | 5,18,13,390 shares |
| Share Holding Post Issue | 13,37,42,760 shares |
| Description | Date |
|---|---|
| Filed with SEBI/Exchange | Mon, Aug 19, 2024 |
| SEBI/Exchange approval received | Fri, Nov 29, 2024 |
| Offer document withdrawn | Thu, May 1, 2025 |
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not less than 75% of the Net Issue |
| Retail Shares Offered | Not more than 10% of the Net Issue |
| NII Shares Offered | Not more than 15% of the Net Issue |
Ecom Express Limited is a B2C e-commerce logistics provider with a pan-India network for first-mile pick-up, mid-mile transportation, last-mile delivery, reverse logistics, and warehousing. The company offers logistics infrastructure and technology-driven solutions to connect digital retailers and e-commerce platforms with consumers across India.
As of March 31, 2024, Ecom Express Limited served over 27,000 PIN codes, including Tier 2 and smaller regions. Its services include B2C express logistics, same-day delivery, reverse logistics for returns, heavy shipment handling, fulfilment solutions, quick commerce warehousing, and modular logistics for customized supply chain needs.
The company operates 317 large facilities, including sorting hubs, processing centers, return centers, and fulfilment centers, along with 3,421 delivery centers, all under lease agreements. Its customer base includes horizontal e-commerce platforms, vertical and D2C platforms, social commerce marketplaces, and quick commerce businesses.
The company's number of customers grew from 2,409 in 2022 to 6,384 in 2024.
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|
| Assets | 2,090.44 | 2,324.81 | 2,045.85 |
| Total Income | 2,652.89 | 2,575.53 | 2,120.90 |
| Profit After Tax | -248.51 | -359.85 | -46.33 |
| NET Worth | 267.86 | 487.42 | 883.16 |
| Reserves and Surplus | 265.31 | 484.87 | 880.62 |
| Total Borrowing | 824.20 | 803.68 | 339.58 |
| Amount in ₹ Crore | |||
| Company | Issue Type | Issue Size | Issue Price | PE Ratio | Listing Day Close | Listing Gain/Loss % | LTP |
|---|---|---|---|---|---|---|---|
| Shadowfax Technologies Ltd. | Mainboard | ₹1,907.27 Cr | ₹124 | 1017.96 | ₹109.98 | -11.31% | ₹222.61 (-2.24%) |
| Om Freight Forwarders Ltd. | Mainboard | ₹122.31 Cr | ₹135 | 19.56 | ₹85.57 | -36.61% | ₹93.99 (-0.90%) |
| Glottis Ltd. | Mainboard | ₹307.00 Cr | ₹129 | 18.38 | ₹83.70 | -35.12% | ₹67.04 (+1.46%) |
| Sampark India Logistics Ltd. | SME | ₹27.22 Cr | ₹84 | 8.65 | ₹93.45 | +11.25% | ₹93.28 (-4.58%) |
| Global Ocean Logistics India Ltd. | SME | ₹30.41 Cr | ₹78 | 12.07 | ₹79.29 | +1.65% | ₹133.00 (+0.00%) |
| Neptune Logitek Ltd. | SME | ₹46.62 Cr | ₹126 | 13.76 | ₹95.80 | -23.97% | ₹35.83 (-3.08%) |
| Shipwaves Online Ltd. | SME | ₹56.35 Cr | ₹12 | 9.3 | ₹11.40 | -5.00% | ₹3.50 (-0.57%) |
| Jayesh Logistics Ltd. | SME | ₹28.63 Cr | ₹122 | 10.75 | ₹117.80 | -3.44% | ₹141.00 (-2.08%) |
| Sunsky Logistics Ltd. | SME | ₹16.84 Cr | ₹46 | 15.6 | ₹53.55 | +16.41% | ₹38.00 (-8.32%) |
| Dhillon Freight Carrier Ltd. | SME | ₹10.08 Cr | ₹72 | 10.49 | ₹54.72 | -24.00% | ₹34.50 (-7.01%) |
| BLT Logistics Ltd. | SME | ₹9.72 Cr | ₹75 | 6.84 | ₹95.49 | +27.32% | ₹29.75 (+1.02%) |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Capital expenditure towards set-up of new processing centers with automation and new fulfilment centres. | 387.44 |
| 2 | Investment in computers and information technology equipment. | 73.71 |
| 3 | Investing in enhancement of technological and data science capabilities including cloud infrastructure. | 239.23 |
| 4 | Repayment/ prepayment, in full or in part, of certain borrowings availed of by the Company including payment of the interest accrued thereon. | 87.92 |
| 5 | General corporate purposes and unidentified inorganic acquisitions. |
| KPI | Mar 31, 2024 |
|---|---|
| RoNW | -67.37% |
| Pre IPO | Post IPO | |
|---|---|---|
| Promoter Holding | 67.18% |
Ecom Express IPO is a main-board IPO of 0 equity shares of the face value of ₹1 aggregating up to ₹2,600 Crores. The issue is priced at To be declared. The minimum order quantity is .
The Ecom Express IPO open and close dates are not available as of now.
MUFG Intime India Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Ecom Express IPO using UPI as a payment gateway. Zerodha customers can apply in Ecom Express IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Ecom Express IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Ecom Express IPO dates are not announced. Please check back again after some time.
Ecom Express IPO lot size and the minimum order quantity is not available at this time. Please check again later.
You can apply in Ecom Express IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Ecom Express IPO will be done on [.], and the allotted shares will be credited to your demat account by . Check the Ecom Express IPO allotment status.
The Ecom Express IPO listing date is not yet announced. The tentative date of listing is .
