Delhivery Restricted Board has accepted the acquisition of almost 99.4% shares of Ecom Express Restricted for ₹1,407 Crore.
“We want to inform you that the board of administrators of Delhivery Restricted (“the Board” and “the Company”, respectively) at its assembly held at present, ie, April 5, 2025, inter-alia, has thought-about and accepted the acquisition of shares equal to a minimum of 99.4% of the issued and paid up share capital, on a completely diluted foundation, of Ecom Express Restricted (“Ecom”https://www.livemint.com/”Goal Company”), for a purchase order consideration not exceeding INR 1,407 Crore,” the corporate stated in an change submitting on Saturday, April 5.
Following the acquisition course of, Ecom Express will turn into a subsidiary of Delhivery.
In February, Mint reported that Ecom Express had laid off almost 500 staff and paused its plans to launch an preliminary public providing (IPO) of its shares in an try to minimize prices.
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