DTDC Express Ltd has joined ONDC (Open Network for Digital Commerce) with a vision to revolutionize e-commerce logistics in India and empower sellers on the network through the integration of emerging technologies. This strategic move underscores DTDC's commitment to supporting local businesses and small e-commerce sellers by providing access to essential tools and support in the rapidly evolving digital landscape.
As DTDC Express Ltd. integrates into the ONDC Network, it aims to strengthen its position as a leader in delivering cutting-edge logistics services. Within the unique ONDC ecosystem, DTDC plans to leverage its expertise in Express and standard B2C deliveries, utilizing a stable and reliable network that connects different parts of the country. Through active engagement with ONDC’s Network of 1.5 L sellers and small entrepreneurs, DTDC Express Ltd with its extensive physical network of ~15,000 Channel Partners serving ~96 percent of the Indian population, aims to achieve 1500 - 2000 shipments per day by the end of this year and continue scaling further.
DTDC's integration into ONDC will catalyze the implementation of cutting-edge service offerings, including Next Day Delivery, Pick Up and Drop Off (PUDO), and QC-enabled reverse Logistics. The company also seeks to simplify various e-commerce operations such as order management, inventory tracking, and payment processing, ensuring a seamless and efficient logistics process for various sellers on the Network. DTDC’s operations for ONDC are live in 5000+ pin codes, serving 100+ tier I, II, and III cities based on demand patterns.
“ONDC’s vision is to create a truly inclusive e-commerce ecosystem wherein every seller, regardless of size, presence, and location, can access equal trading opportunities. With DTDC live on ONDC Network, we are a step closer to this reality,” said T Koshy, MD and CEO, ONDC.
Abhishek Chakraborty, Executive Director of DTDC India, commented, “Our collaboration with ONDC signifies our vision to redefine the logistics paradigm, creating opportunities for growth for businesses of all scales in alignment with the evolving digital commerce ecosystem. Having said this, the focus will be on accommodating the growing demands of SMEs, small businesses, entrepreneurs, and local sellers, enabling end-to-end integrated logistics solutions that empower businesses even in the remotest corners of India.”
With the ambition to become the most admired logistics provider in the country through the ONDC Network, DTDC Express Ltd. will be going live on all 14,700+ pin codes in the next phase, reinforcing the trustworthiness of the entire e-commerce process.
Convergent Finance LLP and Samara Capital have jointly declared the finalization of definitive documents for acquiring a 51.8 percent stake in Agro Tech Foods Limited (ATFL) from a subsidiary of Conagra Brands, Inc. ATFL, a listed company on the Bombay Stock Exchange and the National Stock Exchange, will undergo a mandatory open offer for an additional 26.0 percent of outstanding shares due to this acquisition. The deal is pending customary regulatory approvals and is anticipated to be completed in due course.
Conagra has been a controlling shareholder of ATFL since 2011, and during its tenure, ATFL expanded its food portfolio, featuring renowned brands like ACT II popcorn and Sundrop edible oils. Both brands are leaders in their categories, catering to both in-home and out-of-home consumption. ATFL will retain the license for the ACT II brand from Conagra for use in India.
Harsha Raghavan, Managing Partner at Convergent Finance said, “Agro Tech Foods’ category-defining brands have been beloved household names for the past three decades, thanks to the company’s relentless focus on quality, innovation, and customer delight. As India’s rapidly-growing consumer class expands and discretionary income levels continue to rise, we will expand ATFL’s distribution reach and product range, thereby transforming it into the country’s leading packaged and snack food platform.”
Manish Mehta, Managing Director and Co-Chief Investment Officer at Samara Capital said, “We are delighted to lead the acquisition of a majority stake in ATFL in partnership with Convergent. The company’s brands have high recall value with India’s consumers, and we aim to complement this hard-earned recognition with our knowledge of India’s food and consumer sectors to increase ATFL’s presence in fast-growing, high-margin categories. We intend to create a large and unique branded food platform in the country with this acquisition.”
Convergent Finance LLP, known for its investment management and advisory role, follows a value investing approach, emphasizing fair valuations through negotiated transactions. Samara Capital, founded in 2007, is a mid-market private equity firm in India with a focus on creating long-term value in partnership with entrepreneurs. Consumer and Retail form a significant focus area for Samara.
Conagra Brands, Inc, headquartered in Chicago, is a leading North American branded food company with a portfolio of iconic brands, including ACT II, Birds Eye, Duncan Hines, Healthy Choice, and Marie Callender’s, among others. The company is driven by a commitment to innovation and evolving to meet changing food preferences.
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