Logistics compay Delhivery claimed that in its draft red herring prospectus (DRHP) submitted to the Securities and Exchange Board of India (SEBI), rival Ecom Express had repeatedly used false information about the former.
These claims were made by Delhivery in a section named “Benchmarking in Peer DRHP” of an investor presentation. Delhivery didn’t specifically mention Ecom Express, but it was obvious from the data it gave that it was talking about Ecom Express.
In the fiscal year 2023–24 (FY24), Ecom Express’s shipment count was 514.41 million, whereas Delhivery’s was 740 million, according to their DRHP. Delhivery claimed, however, that when return to origin (RTO) shipments were taken into account, Ecom Express’s shipments were roughly 450 million.
According to the specified logistics major, Ecom Express counts the movement of products from the manufacturer to the client as two shipments, while it counts the forward leg (movement of goods from the manufacturer to the consumer) as one shipment.
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