Ecom Express plans Rs 2,600 crore IPO

 Logistics startup Ecom Express is planning to raise Rs 2,600 crore via an initial public offering (IPO) including Rs 1,284 crore of fresh issue and an offer for sale component of Rs 1,316 crore. The company has filed its 446-page draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) for the public issue. Ecom Express reported a loss of Rs 256 crore for financial year 2023-24, down from Rs 428 crore reported in the previous financial year. Revenue increased marginally to Rs 2,609 crore from Rs 2,554 crore in FY2023. Shipments handled increased 10 percent to 514 million compared to 468 million in FY2023.