Ecom Express Plans Rs 2,600 Crore IPO to Boost Logistics and Tech

Ecom Express Ltd has filed draft papers with Sebi to raise Rs 2,600 crore through an IPO. The offering includes a fresh issue of Rs 1,284.50 crore and an OFS of Rs 1,315.50 crore. Proceeds will fund new centers, tech enhancements, debt repayment, and potential acquisitions.

Ecom Express Ltd has submitted draft documents to the Securities and Exchange Board of India (Sebi) aiming to raise Rs 2,600 crore via an initial public offering (IPO).

The IPO will feature a fresh issue of equity shares valued at Rs 1,284.50 crore, alongside an Offer for Sale (OFS) worth Rs 1,315.50 crore by company promoters and other shareholders, as outlined in the draft red herring prospectus (DRHP).

The fresh capital, totaling Rs 387.44 crore, will fund the establishment of new processing centers with automation, new fulfillment centers, Rs 73.71 crore for computers and IT equipment, Rs 239.23 crore for enhancing technology, data science capabilities, and cloud infrastructure, and Rs 87.92 crore for debt repayment. Remaining funds will go towards corporate purposes and potential acquisitions.

(With inputs from agencies.)