Ecom Express Eyes IPO, Gets Board Approval For INR 2,600 Cr Public Issue

Ecom Express Eyes IPO, Gets Board Approval For INR 2,600 Cr Public Issue

SUMMARY

The proposed IPO will comprise a fresh issue of shares worth up to INR 1,284.5 Cr and an offer for sale worth up to INR 1,315.5 Cr

Ecom Express plans to raise INR 256.9 Cr via pre-IPO placement before filing the draft red herring prospectus

The logistics startup is also in talks with existing investors Warburg Pincus, CDC Group, and Partners Group to raise a funding of about INR 350-400 Cr at a unicorn valuation

Logistics startup Ecom Express is inching towards its initial public offering (IPO), with its board approving the startup’s public listing plans during an extraordinary general meeting (EGM) on August 13. 

According to its filings with the Registrar of Companies (RoC), Ecom Express intends to float an INR 2,600 Cr IPO. The proposed IPO will comprise a fresh issue of shares worth up to INR 1,284.5 Cr and an offer for sale worth up to INR 1,315.5 Cr. 

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