Indian logistics company Delhivery disputes Ecom Express' IPO prospectus claims regarding shipment metrics and service area.
Delhivery, an Indian logistics company backed by SoftBank, has publicly challenged the accuracy of metrics in Ecom Express' IPO prospectus. Delhivery claims Ecom Express misrepresented its business by counting returned orders as double shipments and overstating its service area. Additionally, Delhivery questions the consistency of Ecom Express' financial metrics. Ecom Express aims to raise $310 million in its upcoming IPO and has not yet commented on the allegations.
September 13, 2024
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