Shiprocket Files Fresh Papers for Rs 2,342 Crore IPO
Shiprocket Files Fresh Papers for Rs 2,342 Crore IPO
Gurugram-based Shiprocket moves ahead with a Rs 2,342 crore IPO, including OFS by investors and founders, aiming to list in FY27.
Gurugram-based Shiprocket, a logistics and shipment enabler for direct-to-consumer brands, has filed an updated draft red herring prospectus for a Rs 2,342 crore initial public offering. The plan includes a fresh capital raise of Rs 1,100 crore, while investors and founders are selling shares through the offer-for-sale component. The OFS portion features Lightrock as the biggest seller with Rs 258 crore, followed by Arvind Ltd at Rs 161 crore. Founders Saahil Goel and Gautam Kapoor will each cash out around Rs 144 crore, with Vishesh Khurana selling about Rs 37 crore. Khurana, who left Shiprocket to join Tribe Capital in 2024, is among the early sellers in the OFS. Shiprocket is targeting a listing in the first quarter of FY27, according to people familiar with the matter.
For the six months ended September, Shiprocket reported operating revenue of Rs 943 crore, up 15% year-on-year. Its net loss narrowed to Rs 38 crore from Rs 42 crore in the April–September 2024 period. The company offers a suite of services that help D2C brands and small and medium businesses sell online across ecommerce marketplaces, their own websites, and even export their goods. Since its founding in 2012, Shiprocket has positioned itself as an asset-light logistics platform that aggregates service providers to support merchants on its ecosystem. About 75% of revenue comes from its core business, and the firm has highlighted a net revenue retention of 103.51% for fiscal 2025, indicating that existing merchants are increasing their spend with Shiprocket. The company has also reduced its customer acquisition costs over time, bolstering its core operations ahead of a potential public listing.
Shiprocket has signaled that the IPO proceeds would support platform growth, technology enhancements, and potential acquisitions, with a longer-term goal of expanding its footprint in India’s fast-growing ecommerce logistics space. The listing would add to the wave of technology-enabled logistics firms tapping capital markets as they scale their reach and invest in product development to serve a growing base of online retailers.
Cover image source: Eternal-backed Shiprocket files updated DRHP for Rs 2,342 crore IPO; key details 🔗
