Shiprocket has given investors a striking first-day payoff, with its shares listing at a 35% premium to its Rs 97 IPO price, before climbing as much as 48.6% intraday. At its peak, that put the company at roughly $1 billion, according to Reuters. The excitement is not just about a successful technology IPO. It reflects … Read more
As per the reports, Aegis Logistics (ALL), India’s largest privately owned liquid logistics company in West Asia, is in advanced discussions to acquire Tristar, a West Asia based liquid logistics company, in a deal valuing the target at about USD 1.5 bn. ALL has supposedly begun talks with a group of European and Indian private … Read more
When Saahil Goel says, “We renamed ourselves to Shiprocket,” he is not talking about a cosmetic rebrand. He is referring to a moment when a 14-year-old company finally recognised what it truly was and what it was meant to build. “I think for the first time, the whole company felt it,” he says. For the … Read more
In a major consolidation move in the Indian courier industry, Delhivery has announced acquisition of it’s rival Ecomm Express. The deal is all cash of Rs 1,407 cr for 99.4% stake It is a distress sale for the struggling Gurgaon-based company that cancelled its IPO last year amid declining business. After Ecomm Express filed it’s … Read more
Adani Group chairman Gautam Adani, 62, plans to step down at the age of 70 and shift control to his sons and their cousins in the early 2030s, he told Bloomberg News in an interview published on Monday. When Adani retires, his four heirs – sons Karan and Jeet, and their cousins Pranav and Sagar … Read more
To tap the potential of the country’s air cargo sector, the focus should be on further improving processes as well as ensuring faster turnaround time, a senior government official said on Thursday. “The government is working on developing logistics hubs,” he added. Piyush Srivastava, Senior Economic Advisor at the Ministry of Civil Aviation, said that … Read more
With Narendra Modi-led National Democratic Alliance voted to power for the third consecutive term, the Adani Group is well-positioned to continue the economic and social programs that have driven “spectacular” journey over the last decade, Gautam Adani said at Adani Enterprises’ Annual General Meeting on Monday. “India is no longer at the crossroads of destiny … Read more