The Competition Commission of India has approved the acquisition of at least 99.44% of the equity and preference shareholding (on a fully diluted basis) of Ecom Express Limited by Delhivery Limited.

The Proposed Combination comprises acquisition of at least 99.44% of the equity and preference shareholding (on a fully diluted basis) of Ecom Express Limited (Ecom) by Delhivery Limited (Delhivery).

Delhivery is a publicly listed Indian company. It is an integrated logistics player and provides a full-range of logistics services, including express parcel delivery, heavy goods delivery, full truckload freight, part-truckload freight, warehousing and supply chain services (including supply chain software solutions and value-added services), and cross border express services. Delhivery operates through a network of domestic and global partners and has made investments in automation, self-developed logistics technology and in data intelligence capabilities.

Ecom is a public unlisted Indian company. It provides logistics solutions to the Indian e-commerce industry. Ecom uses automated solutions to enable pickup, processing, network operation, delivery, reverse logistics and returns management. Ecom also offers storage and warehousing solutions.

Detailed order of the Commission will follow.

Merger control: Competition approval clears Delhivery's near complete acquisition of Ecom Express's shareholding, pending detailed order. Approval under India's merger control framework for Delhivery Limited's acquisition of at least 99.44% of the fully diluted equity and preference shareholding of Ecom Express Limited; the Proposed Combination is a near complete shareholding transfer between an integrated logistics provider and an e commerce logistics services provider, and the Commission's clearance is subject to a detailed order to follow.