Ecom Express Files Draft Papers For INR 2,600 Cr IPO

Ecom Express Files Draft Papers For INR 2,600 Cr IPO

SUMMARY

Ecom Express’ IPO comprises a fresh issue of shares worth INR 1,284.5 Cr and an offer for sale component of INR 1,315.5 Cr

The company will be utilising the funds netted from the IPO to set up new processing centres with automation and new fulfilment centres, invest in IT equipment, and enhance its cloud infrastructure

The logistics startup’s second stab at listing is significantly lower than its 2022 IPO plans of raising INR 4,860 Cr via its listing

Just two days after receiving board’s nod for floating its initial public offering (IPO), logistics startup Ecom Express today (August 16) filed its draft red herring prospectus (DRHP) with the markets regulator Securities and Exchange Board of India (SEBI).

The company is aiming to raise INR 2,600 Cr from the public issue, which will comprise a fresh issue of INR 1,284.5 Cr and an offer for sale component of INR 1,315.5 Cr. 

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