Delhivery, Ecom Express seek CCI approval for 1,400 crore in cash deal

Logistics major Delhivery Ltd and Ecom Express have approached the competition commission of India (CCI) for approval to acquire a controlling stake in the latter in a deal valued at Rs 1,400 crore. The agreement, announced on 5 April, will see Delhivery make the purchase entirely in cash.
While Delhivery is a publicly listed, integrated logistics firm, Ecom Express specialises in logistics services tailored for the Indian e-commerce sector.
In a notice submitted to the CCI, the companies argued that the proposed transaction would not significantly impact competition in any relevant market across India. They added that the relevant product and geographic markets could remain open, given the absence of any appreciable adverse effect on market dynamics.
The notice acknowledged potential overlaps in business, particularly in the areas of express parcel delivery and warehousing and supply chain services. It also pointed to vertical links, including intralogistics automation services (upstream) and broader logistics offerings (downstream).
Highlighting the rationale behind the deal, the companies stated, "The proposed transaction will enable the parties to service their customers better, through continued investments in infrastructure, technology, network and people."
They further noted that the deal aligns with India's growing need for more efficient, faster and broader logistics capabilities to support its expanding economy.
As per Indian regulations, mergers and acquisitions crossing a certain threshold require mandatory clearance from the CCI, which serves to curb anti-competitive practices and maintain a level playing field in the market.