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CCI Approves Delhivery’s ₹1,407 Cr Acquisition of Ecom Express and M&M’s ₹555 Cr Stake in SML Isuzu on June 17, 2025.

Banking & Finance | Dated: 19 Jun 2025

On 17 June 2025, the Competition Commission of India (CCI) cleared two major acquisitions: Delhivery’s ₹1,407 crore takeover of Ecom Express and Mahindra & Mahindra’s ₹555 crore purchase of a controlling stake in SML Isuzu.

🎯 Key Highlights:

  • - The CCI approved Delhivery’s acquisition of a 99.4% stake in Ecom Express for ₹1,407 crore. Delhivery’s MD & CEO Sahil Barua stated that the merger enhances cost efficiency, delivery speed, and network reach, reinforcing its leadership in India’s e-commerce logistics.
  • - Mahindra & Mahindra (M&M) received CCI approval to acquire 58.96% of SML Isuzu for ₹555 crore, including an upcoming open offer for up to 26% additional shares. The transaction aims to double M&M’s presence in the heavy commercial vehicle segment (above 3.5 tonnes).
  • - Following the CCI clearance, Delhivery’s share price rose roughly 1.6% on the BSE to ₹364.7, reflecting investor optimism regarding logistics consolidation. M&M shares also gained nearly 3%, driven by expectations of expanded market share and synergies.

💡 Other Important Facts:

  • (i) Under Section 31(1) of the Competition Act, 2002, CCI reviews mergers for potential anti-competitive impact. Both deals were found not to harm consumer welfare or market competition, aligning with the regulator’s pro-growth approach.
  • (ii) These approvals reflect ongoing consolidation in India’s logistics and automotive sectors. Delhivery aims to strengthen its logistics network and operational efficiency, while M&M reinforces its dominance in China’s and global CV markets via synergies with SML Isuzu.
  • (iii) Post-merger, Delhivery’s expanded footprint supports automation and asset utilisation, while M&M targets a 10–12% market share in >3.5 tonne CVs by FY 31 and upwards of 20% by FY 36. Both companies view the CCI nod as crucial for scale and competitiveness.

📚 Test Your Knowledge:

What is the value of Delhivery’s acquisition of Ecom Express recently approved by the Competition Commission of India (CCI)?

Correct Answer: ₹1,407 crore

🚀 Quick Recap:

About CCI

  • Chairperson: Ravneet Kaur
  • Headquarters: New Delhi