SpiceXpress plans IPO for cargo unit

SpiceXpress could be listed on a stock exchange within a year as the rise of e-commerce drives growing demand for fast shipping across the region. The carrier plans to sell its share in the logistics business in an Initial Public Offering (IPO). The carrier is expanding its one-year old cargo hauling arm to fill the growing need for overnight shipping services, fuelled by online retailers such as Amazon.com Inc. and Walmart Inc.’s Flipkart.
SpiceXpress has nine scheduled departures, six days a week, to Hong Kong from Delhi, Kolkata and Guwahati, and one domestic rotation connecting Hyderabad, Delhi, Mumbai, Bengaluru and Chennai.