The board of logistics company Ecom Express has approved plans for an initial public offering (IPO) of Rs 2,600 crore, marking the company's second attempt at going public.

Ecom Express is evaluating a new issue of up to Rs 1,284.5 crore and an offer-for-sale (OFS) component of up to Rs 1,315.5 crore, per internal company documents obtained from the Registrar of Companies (RoC).

The Warburg Pincus-backed third-party logistics player had appointed bankers such as Kotak Capital, IIFL, Axis Capital, and UBS for its IPO.

Ecom Express is making a fresh push for a possible stock market debut at a time when emerging businesses are becoming more and more popular in public markets. SoftBank-backed companies Ola Electric, FirstCry, and Unicommerce all saw significant post-listing increases this month.

The parent company of Bengaluru-based Zinka Logistics, the digital truck aggregation platform Blackbuck, which has backing from Flipkart and Accel, has also filed draft documents for an IPO of Rs 550 crore in a new issue with the Securities and Exchange Board of India (Sebi).

The Gurugram-based company had originally planned to go public in 2022, but due to difficult market conditions, the plan was postponed. Ecom Express faces competition from companies such as Xpressbees, Flipkart-owned Ekart Logistics, Amazon Transportation Services, and publicly traded Delhivery, which is presently valued at approximately $3.6 billion.

In addition, the business serves Meesho, an online marketplace funded by Prosus that has introduced Valmo, an internal logistics service provider. According to reports, third-party logistics companies who saw large volume sales from the Bengaluru-based e-tailer may be impacted by Valmo's expansion.