Ecom Express Files for IPO; Partners Group to Offload Rs 931 Crore Stake

In a big step toward going public, Ecom Express, the major Indian logistics company, has filed a draft red herring prospectus with the Securities and Exchange Board of India.

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With this, it secures the second attempt by the company at an IPO after its previous plan got postponed in February 2022.

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It expects to raise Rs 2,600 crore through the IPO, with Rs 1,284.5 crore from a fresh issue of equity shares and Rs 1,315.5 crore from an OFS in shares.

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The company’s largest shareholder is Partners Group, with a 49.76 percent stake in Ecom Express. The firm will offload shares worth Rs 931 crore.

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Ecom Express, a 13-year-old company, has been one of the major players in the Indian logistics space, covering more than 2,700 towns and 27,000 pin codes.

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The company delivered 514 million shipments in the year ending FY 2024, nearly 81.79% of which came from Tier 2 cities.

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