Delhivery acquires Aramex's India unit to expand e-commerce logistics footprint
Gurugram-based near-unicorn Delhivery buys the India operations of Dubai courier giant Aramex for an undisclosed sum, adding to its network of 30 fulfillment and 19 sorting centres. The move tightens competition with Rivigo, Ecom Express and Xpressbees in India's $1.35B e-commerce logistics market forecast to grow 36%.
What happened
Delhivery has acquired the India operations of Dubai-based Aramex, strengthening its e-commerce logistics footprint. Deal value undisclosed. The near-unicorn
Key facts
- 30 fulfillment centres
- 2,500+ delivery partners
- 19 sorting centres
- $257.6M raised
- $700-800M valuation
- Rs 1,023.05 crore operating income
- Rs 692.21 crore net loss
- $1.35B e-commerce logistics market
- 36% growth forecast
Why this matters
This bolt-on signals sector consolidation is underway, so we should map remaining independent targets like Rivigo, Ecom Express and Xpressbees before valuations reset amid intensifying competition.
What to watch
- Deal value disclosure and financing structure (cash vs equity)
- Delhivery quarterly loss trajectory and EBITDA turn
- Competitor counter-M&A or fresh funding rounds
- Cross-border/international volume ramp post-Aramex integration
- Client attrition or retention among Aramex's India accounts
- Delhivery integrates Aramex India cross-border/international freight desk to add higher-margin lines
- Rivals (Xpressbees, Ecom Express) accelerate own funding or M&A to defend share
- Delhivery pushes toward IPO or fresh raise leveraging expanded footprint narrative
- Rationalize overlapping sorting centres to extract synergy and defend margins