Ecom Express IPO: Well-known courier service provider company Ecom Express is going to launch its IPO. The courier company has submitted the IPO papers with the capital market regulator SEBI. According to the information received from the documents submitted to SEBI, the size of Ecom Express’s IPO will be Rs 2600 crore. Under this IPO, the company will issue fresh shares worth Rs 1284.50 crore, while shares worth Rs 1315.50 crore will be issued by the company’s promoters through OFS.
Where and how much money will Ecom Express spend
According to Ecom Express, out of the total money raised from the IPO, Rs 387.44 crore will be used to set up new processing centers and new fulfillment centers with automation. Apart from this, Rs 73.71 crore will be used for computers and IT equipment and Rs 239.23 crore will be spent on expanding technology, data science capacity and cloud infrastructure.
87.92 crore rupees will be used to repay the loan
The courier company told SEBI that Rs 87.92 crore will be used to repay the loan. The company is considering raising Rs 257 crore through a pre-IPO issue. If this happens, the size of the new issue will be reduced. Let us tell you that Ecom Express operates an ‘express logistics network’ across India.
Ecom Express has big clients like Amazon, Meesho and Puma
Ecom Express connects digital retailers and e-commerce platforms with consumers across the country using logistics infrastructure and technology. Ecom Express has big clients like Amazon, Meesho, V-Mart, Nykaa, Puma and E-Cart. As of March 31, 2024, this courier company had around 6,384 active clients. Let us tell you that Ecom Express’s counterpart companies Blue Dart Express and Delhivery Limited are already listed in the stock market.
Latest Business News
