Eternal-Temasek-backed Shiprocket files updated DRHP for Rs 2,342 crore IPO
Eternal-Temasek-backed Shiprocket files updated DRHP for Rs 2,342 crore IPO
Shiprocket seeks up to Rs 2,342 crore in an updated DRHP, backed by Eternal and Temasek, to fuel platform growth and tech expansion for Indian MSMEs.
Shiprocket, the Gurugram-based e-commerce enablement platform, has filed its updated draft red herring prospectus with the market regulator for an IPO of up to Rs 2,342 crore. The offer comprises a fresh issue of equity shares up to Rs 1,100 crore and an offer for sale aggregating up to Rs 1,242 crore by existing shareholders. The company is backed by marquee investors Eternal Limited and Temasek's MacRitchie Investments, with Eternal and Temasek not participating in the offer for sale according to recent filings.
Shiprocket operates an end-to-end, API-led platform that helps Indian MSMEs and digital retailers sell on their own websites, mobile apps and social channels. The asset-light model hinges on a broad network of ecosystem partners, delivering services across logistics, checkout, payments, fulfilment and cross-border trade. The business is organized into Core and Emerging segments, with the Core segment covering domestic shipping and order-management tools, while Emerging focuses on new revenue streams such as cargo and fulfilment services, cross-border commerce, advertising, capital solutions, hyperlocal deliveries and other merchant-focused services.
The platform offers features like multi-modal shipping, AI-driven logistics partner allocation, order tracking and post-order data insights to improve the customer experience. Shiprocket cites Redseer data in its DRHP indicating it was the largest new-age, end-to-end horizontal e-commerce enabler in India by revenue from operations in FY25. The funds from the IPO are expected to be used for platform growth, technology enhancements and potential acquisitions, underscoring the company’s plan to broaden its revenue streams and scale across domestic and cross-border markets.
As the IPO process advances, Shiprocket aims to bolster its position in India’s bustling e-commerce logistics space, leveraging investor backing to push further into new services and partnerships that can help merchants grow their reach and improve conversion rates across channels.
Cover image source: Shiprocket files UDRHP for Rs 2,342-crore IPO 🔗
