Another startup joins the IPO bandwagon. Logistics and warehousing firm Ecom Express is all set to float its initial public offering as the Delhi-based firm’s board has approved a fundraise of up to Rs 4,860 crore or $648 million through a public issue of shares.
According to the company’s regulatory filings, the board has approved to raise up to Rs 4,860 crore via an IPO which will include a fresh issue of Rs 2,160 crore and an offer for sale of Rs 2,700 crore from Ecom Express’ existing investors.