Delhivery shares stage 11% rebound from opening low; here’s why

Shares of Delhivery remained in focus on Monday after the logistic company signed a deal to acquire rival firm Ecom Express for ₹1,407 crore. The acquisition of Ecom Express, the second largest third-party (3PL) B2C logistics operator, would help the combined entity command around 55-60% market share of the express market.

Boosted by the acquisition deal, Delhivery share price climbed as much as 2.4% to ₹264.50 on the BSE, after weak opening, in sync with broader market. The logistic stock opened the day sharply lower by 7.7% at ₹238.20 against Friday’s closing level of ₹258.25 amid sharp selling in broader market. The equity benchmark indices BSE Sensex opened at 71,450, down 3,915 points, or 5.2%, while the NSE Nifty fell 1,146 points, or 5%, to 21,758 in opening trade.

However, Delhivery shares staged a smart recovery after weak opening, rebounding as much as 11% from day’s low level to hit a high of ₹264.50 in the first two hours of trade so far. The counter recently touched its 52-week low of ₹236.80 on March 13, 2025, skidding 50% from its 52-week high of ₹478 touched on April 12, 2024.

The counter witnessed strong volume as 8.75 lakh shares changed hands over the counter as compared to two-week average of 3.4 lakh stocks. At the time of reporting, Delhivery shares were up by 1.25% at ₹261.45, with a market capitalisation of ₹19,493 crore.

In an exchange filing on April 5, Delhivery said that it entered into a pact to acquire a controlling stake in Ecom Express for a cash consideration of ₹1,400 crore from its shareholders. The completion of the transaction is subject to approval from the Competition Commission of India (CCI), and customary closing conditions.

The deal came at a time when Ecom Express was looking to list its shares on domestic bourses at market valuation of around ₹5,000 crore. The Gurugram-based e-commerce logistics company was mulling to raise up to ₹2,600 crore via initial public offering (IPO) route, comprising fresh equities worth up to ₹1,284.5 crore and an offer for sale (OFS) of shares up to ₹1,315.5 crore by existing shareholders.

The new age technology companies had filed their draft paper with the SEBI in August last year, while its received regulatory approval to launch its IPO in December 2024. However, the company later shelved its IPO plans and was acquired by Delhivery. 

Incorporated in 2012, Ecom Express provides logistics and supply chain solutions across 29 states and 6 union territories, serving 27,000+ pin codes throughout India. With a network of 317 large facilities (covering sorting hubs, processing centers, return centers, and fulfilment centers), and 3,421 delivery centers, the PIN codes collectively account for approximately 97% of India’s population, as per RedSeer report mentioned in the DRHP. It acquired a controlling stake in Paperfly Private Limited, a logistics solutions provider company based in Bangladesh, in January 2021.

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