ecommercefocused logistics player ecom express which was preparing for a listing before the markets turned choppy is looking to raise 125150 million in private funding people aware of the matter saidecom express like multiple other toptier startups has put its initial public offering ipo plan on hold for nowthe company is working with investment banks jm financial and barclays for the fundraising according to people who know about its pitch to investors and is looking to benchmark itself against delhivery the largest thirdparty logistics player which went public in mayet has been briefed on parts of its presentation to potential investors advt ipo looks unlikely in a market now and they have pitched to investors for a round of up to 150 million the conversations are early and a valuation has not been finalised yet one person saidthe warburg pincusbacked firm is valued at around 760 million as per startup data tracking platform tracxnit has raised 260 million so far since inception in 2012ecom express and jm financial did not respond to ets queries a spokesperson for barclays declined to commentecom express and softbankbacked xpressbees have a narrow gap between them in terms of daily shipment volumes while delhivery is the market leaderaccording to industry sources ecom express is clocking about 111 million ecommerce shipments per daythey ecom express had a big boost from singapores shopee last year but then the etailer abruptly shut shop in march this has impacted volumes in the new fiscal year another person saidthe companys plans for a new funding round come at a time when deals of 100 million or more have slowed both in india and abroad due to macroeconomic changes and rising interest rates in the united statesthe companys new fundraise estimates are lower than what it was considering through an ipo last year where its board approved a 600 million public share sale plan although a significant chunk of this would have been through an offer for sale advt according to reports the company clocked revenue of rs 1254 crore on a loss of over rs 313 crore in the financial year 201920its latest audited financials have not yet been filed with the registrar of companiesamid a global rout in tech stocks delhiverys ipo opened with gains over its issue price of rs 487 per share its shares ended marginally higher at rs 50695 on the bse thursdaystocks of startups such as zomato and paytm have seen significant erosion in their value this yearpaytm shares in fact tanked immediately after listing and has not yet recovered to its issue price of rs 2150 per shareit closed more than 4 lower at rs 67580 per share on the bse thursdayecom express was founded in 2012 by t a krishnan manju dhawan k satyanarayana and the late sanjeev saxenaaccording to the company it is present in 29 states and operates in over 2650 towns across 27000 pin codes last year it invested in bangladeshs paperfly in a bid to expand operations outside india