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Third party logistics company Delhiwari Ecom Express Limited will buy for Rs 1,407 crore. The company has informed the exchange today i.e. on 5 April that the board has approved the purchase of about 99.4% shares of Ecom Express.
The company said in the exchange filing on Saturday that the purpose of this acquisition is to increase the scale of Delhiri, which will strengthen its value proposal for customers. E-commerce is logistics company. It was established in 2012. The Ecom Express Limited is not a list in the stock market.
Large clients like Amazon, Misho, Naika near Ecom Express Through this acquisition, Delhiwari wants to further strengthen its market status. The Ecom Express has large clients like Amazon, Misho, Naika and runs the express logistics network across India. The acquisition will give Delhiri a chance to further expand the e-commerce logistics sector.
Delhiwari market cap 19.46 thousand crores According to BSE, the market cap of Delhiwari was 19.46 thousand crores when the market was closed on April 4. On April 4, on Friday, the company’s stock had a decline of 0.97% and its stock closed at Rs 261. At the same time, so far this year its share price has seen a decline of Rs 87.40 (25.09%).
Delhiwari was listed in the stock market in May 2022 The IPO of Delhiwari came in May 2022. This IPO was worth Rs 5,235 crore. The listing of Delhiri shares was on 27 May 2022 on NSE and BSE. It was listed at Rs 495.20 with 1.68% premium in the stock market. Its issue price was Rs 487.
Delhiwari started in 2011 Delhiwari began in 2011. The company was founded in Gurugram (then Gurgaon), Haryana, and initially served as a local delivery service. Later the company started offering delivery service across the country. The company extended the field of e-commerce logistics itself and became one of the major logistics companies of India.
