Ecom Express has reportedly pitched to investors for a round of $100 Mn-$150 Mn investment at an undecided valuation
Its competitor Delhivery has already listed on the bourses after waiting for the market to stabilise and then eventually listing at a reduced offer size
Other IPO-bound startups that have postponed listing plans include: BoAt, OYO, FirstCry, MobiKwik, among others
In February 2022, Inc42 had exclusively reported that logistics startup Ecom Express was heading for an initial public offering of INR 4,680 Cr – with a fresh issue size of INR 2,160 Cr and OFS worth INR 2,700 Cr.
Now, according to reports, Ecom Express has joined the list of IPO-bound startups waiting for the bear market storm to pass. Instead, the Delhi NCR-based startup is looking to raise funds from private equity and venture capital investors. Ecom Express has reportedly pitched to investors for a round of $100 Mn – $150 Mn capital infusion.