Delhivery has accused rival Ecom Express of using inaccurate business metrics in its draft red herring prospectus (DRHP) for its upcoming IPO. The dispute centers on shipment volumes, Service EBITDA, and cost per shipment (CPS). Delhivery claims that Ecom Express counts returned shipments as two, inflating their total. Additionally, Delhivery says their larger average parcel weight skews the cost comparisons. Delhivery also questioned Ecom Express’ claim of covering 27,000 pin codes, highlighting that only 19,300 unique pin codes exist in India according to government data.