In India, the Competition Commission of India (CCI) has approved the acquisition of a 99.44% stake in Ecom Express by Gurugram-based logistics major Delhivery Ltd, in a deal valued at ₹1,407 crore (approx. USD 168.5 million). This strategic move is set to enhance Delhivery’s presence in India’s booming e-commerce logistics sector. Following the announcement, Delhivery’s shares rose over 2%, signaling market optimism about the consolidation. The acquisition strengthens Delhivery’s capabilities in last-mile delivery, warehousing, and operations across tier-2 and tier-3 cities, aligning with its broader vision of becoming India’s most comprehensive logistics platform.
The Competition Commission of India (CCI) approved a major consolidation in the country’s logistics sector, greenlighting Delhivery Ltd‘s ₹1,407 crore acquisition of a majority stake in Ecom Express Ltd. The move pushed Delhivery’s shares up over 2% in intra-day trading, reinforcing investor confidence in the company’s growth strategy.
Based in Gurugram, Haryana, Delhivery is one of India’s leading logistics and supply chain firms, offering parcel transportation, warehousing, freight, and cross-border services. The company is rapidly expanding its footprint across India’s e-commerce landscape.
The approved transaction will see Delhivery acquire at least 99.44% of Ecom Express’ equity and preference shares on a fully diluted basis, entirely in cash. Ecom Express, also headquartered in Gurugram, specializes in secure and high-volume e-commerce deliveries, especially in underserved tier-2 and tier-3 markets.
The deal is expected to bolster Delhivery’s logistics infrastructure, particularly in last-mile delivery, warehousing, and fulfillment. The strategic location of the combined networks will support operational efficiency and increase service reach, positioning Delhivery to offer a stronger value proposition to India’s online retail sector.
Financial Performance Reflects Strategic Momentum
Delhivery recently reported a full-year net profit of ₹162 crore in FY25, reversing a loss of ₹249 crore in FY24. For Q4FY25, the company posted a net profit of ₹72.6 crore, compared to a loss of ₹68.5 crore a year earlier.
Revenue for the quarter rose 5.6% year-on-year to ₹2,191.6 crore. Notably, EBITDA almost tripled to ₹119 crore, and operating margins improved to 5.45% from 2.2% in Q4FY24.
Following the acquisition announcement, Delhivery’s stock touched an intra-day high of ₹366.50. While still below its 52-week high of ₹447.75 in September 2024, the stock has recovered significantly from its March 2025 low of ₹236.80.
A Growth-Oriented Acquisition
This acquisition comes amid a broader strategy by Delhivery to solidify its logistics leadership in India. The company emphasized that the deal aligns with its vision of building the country’s most extensive and efficient logistics platform.
With Ecom Express reporting a turnover of ₹2,607.3 crore in FY24, the merger brings strong operational synergies. It also opens opportunities for Delhivery to expand its market dominance at a time when India’s e-commerce sector is expected to grow at double-digit rates.
As the logistics industry consolidates to meet rising demand and evolving customer expectations, the Delhivery-Ecom Express deal sets a new benchmark for scale and strategic intent in India’s logistics transformation.
