Shiprocket IPO

Shiprocket IPO is a book-built issue worth ₹1,617.48 crore. The IPO includes a fresh issue of 9.13 crore shares worth ₹885.50 crore and an offer for sale (OFS) of 7.55 crore shares worth ₹731.98 crore.

The Shiprocket IPO will open for subscription on August 12, 2026, and close on August 14, 2026. The allotment is expected to be finalised on August 17, 2026. The company's shares are proposed to be listed on both the NSE and BSE, with the tentative listing date set for August 19, 2026.

The IPO price band has been fixed at ₹92 to ₹97 per share, with a lot size of 154 shares. Retail investors need to invest a minimum of ₹14,938 when applying at the upper price band.

Axis Capital Ltd. is the book-running lead manager for the issue, while Kfin Technologies Ltd. is the registrar.

About Shiprocket

Shiprocket operates as an e-commerce logistics and enablement platform that helps D2C brands, MSMEs and online sellers manage their shipping and fulfilment needs. It connects sellers with multiple courier companies through a single platform, allowing them to compare shipping options, manage orders and track deliveries. The company earns revenue mainly through shipping fees, subscription plans and technology-enabled services.

Its additional services include warehousing through Shiprocket Fulfillment, checkout solutions through Fastrr, cross-border shipping through ShipX, cash-on-delivery management and marketing tools. By combining logistics and technology services, Shiprocket aims to provide sellers with an integrated platform for managing their e-commerce operations.

Shiprocket has built a large network across India and international markets. It serves more than 400,000 active businesses and merchants, covering over 19,000 PIN codes in India and more than 220 international countries and territories through partnerships with over 42 courier providers. The platform processes more than 500,000 transactions every day, giving it a significant presence in India's D2C and e-commerce logistics market.

Industry Outlook

• India’s e-commerce market is projected to reach $150–170 billion by FY27–FY28, growing at around 20–22% CAGR, supported by rising internet usage and digital infrastructure.
• India’s D2C market is expected to reach $60 billion by FY27, while the Direct Online Channel (DOC) market is projected to grow from $5 billion to $22 billion.
• India’s online shopper base is expected to reach around 500 million by 2030, supported by smartphone adoption that could exceed 1.3 billion users.
• E-commerce accounted for around 8% of Indian retail in FY22 and is projected to reach 15% by FY27, indicating significant growth potential.
• Emerging D2C brands are increasingly reaching the ₹100 crore revenue milestone within 3–5 years of launch, supported by digital marketing and easier access to technology.
• Rising non-marketplace D2C shipments are driving demand for multi-carrier logistics aggregators, automated fulfilment and technology-enabled COD management solutions.

Shiprocket IPO Objectives

1. The IPO has a total size of ₹1,617.48 crore, including a ₹885.50 crore fresh issue. The fresh issue proceeds will be used partly to strengthen technology infrastructure, AI/ML capabilities, fraud prevention, checkout and route optimisation.
2. Part of the ₹885.50 crore fresh issue proceeds will be deployed to expand Shiprocket’s Fulfilment warehouse network and related infrastructure.
3. The fresh issue proceeds will also fund potential acquisitions, joint ventures and strategic investments to strengthen Shiprocket’s market position and expand services such as ShipX.
4. A portion of the fresh issue proceeds will be used for the full or partial repayment/prepayment of outstanding borrowings, helping optimise the company’s capital structure.
5. The balance of the fresh issue proceeds, after meeting specified IPO-related expenses, will be used for working capital and general corporate requirements.
6. The IPO also includes an OFS of ₹731.98 crore. Unlike the fresh issue, proceeds from the OFS will go to the selling shareholders and will not be received by Shiprocket.

Financial Performance of Shiprocket

Shiprocket Peer Comparison

Strengths and Opportunities for Dhoot Transmission IPO

1. Shiprocket is India’s largest new-age end-to-end e-commerce enablement platform by FY25 operating revenue, with a strong presence among non-marketplace D2C brands.
2. The platform serves 400,000+ active merchants and MSMEs and processes more than 116 million orders annually across domestic and international markets.
3. Shiprocket follows an asset-light, API-first model, with capital expenditure at less than 0.8% of revenue, enabling the business to scale without heavy infrastructure investments.
4. Its technology platform is built on data from 620 million+ transactions and 140 million+ mapped consumers, while its AI-driven NDR and RTO models achieve up to 82.5% accuracy in identifying fraudulent orders and reducing delivery failures.
5. Shiprocket has a wide logistics network covering 19,000+ PIN codes and 220+ international destinations through partnerships with 42+ courier companies.
6. The company is expanding beyond logistics through products such as Fastrr and Wigzo, with its emerging businesses growing 41% year-on-year, supporting higher revenue opportunities from existing merchants.
7. Shiprocket has a diversified merchant base, with no single seller accounting for a significant share of its overall platform revenue, reducing customer concentration risk.
8. The company has improved its financial performance, with Cash EBITDA turning positive at ₹7 crore in FY25 and net losses narrowing sharply from ₹595.20 crore in FY24 to ₹74.50 crore in FY25.
9. ShipX provides an opportunity to tap into the growing cross-border e-commerce market by helping Indian MSMEs sell and ship products to international customers.
10. Shiprocket can benefit from rising quick-commerce and hyperlocal delivery demand through services such as Shiprocket Quick, including same-day and local delivery options.
11. Its role as a technology and logistics partner on ONDC provides an opportunity to bring more offline and hyperlocal retailers into the digital commerce ecosystem.
12. Greater adoption of Fastrr and Wigzo across Shiprocket’s existing merchant base could increase average revenue per user by expanding its higher-margin SaaS and marketing services.

Risks and Threats for Dhoot Transmission IPO

1. Shiprocket continues to report losses, with net losses of ₹595.20 crore in FY24 and ₹74.50 crore in FY25, while its history of negative operating cash flows could delay sustained profitability.
2. The company relies on 42+ third-party logistics partners for deliveries, making it vulnerable to service disruptions, pricing changes and operational issues at its courier partners.
3. High Cash-on-Delivery (COD) volumes increase the risk of Return-to-Origin (RTO), delayed settlements and higher working capital requirements.
4. Shiprocket serves 400,000+ merchants, many of which are early-stage D2C brands and MSMEs that may have higher business failure and churn rates, requiring continued spending on merchant acquisition.
5. The platform processes more than 500,000 transactions daily, making it dependent on stable technology infrastructure and exposing it to risks from system outages, cyberattacks and data breaches.
6. Shiprocket handles data linked to 140 million+ mapped consumers, increasing its exposure to evolving data privacy and regulatory requirements, including India’s DPDP framework.
7. Its acquisition-led growth strategy, including investments in Fastrr, Wigzo and Pickrr, carries integration, valuation and execution risks if expected synergies are not achieved.
8. Services involving early COD settlements expose Shiprocket to merchant credit and fraud risks, particularly when payments are advanced before successful delivery confirmation.
9. Direct competition from logistics providers developing their own merchant-facing technology platforms could reduce Shiprocket’s dependence on its aggregation services and affect shipment volumes.
10. Expansion of fulfilment services by major e-commerce players such as Amazon Logistics and Ekart could intensify competition for D2C merchants.
11. A slowdown in consumer spending, particularly on discretionary products, could reduce D2C order volumes and consequently lower the number of shipments processed through Shiprocket’s platform.

Shiprocket IPO Reservation

Shiprocket IPO Promoter Holding

The company does not have any identifiable promoters. 

Shiprocket IPO Registrar and Lead Managers

Shiprocket IPO Lead Managers

• Axis Capital Ltd.
• BOFA Securities India Ltd.
• JM Financial Ltd.
• Kotak Mahindra Capital Co.Ltd.

Registrar for Shiprocket IPO 

Name: Kfin Technologies Ltd.

Phone: 040-79615565

Email ID: shiprocket.ipo@kfintech.com

How To Check the Allotment Status of the ShiprocketIPO?

Steps to check IPO allotment status on Angel One’s app:

1. Log in to the Angel One app.
2. Go to the IPO Section and then to IPO Orders.
3. Select the individual IPO that you had applied for and check the allotment status.
4. Angel One will notify you of your IPO allotment status via push notification and email.

How To Apply for Shiprocket IPO Online?

1. Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
2. Locate the IPO Section: Navigate to the 'IPO' section on the platform.
3. Select IPO: Find and select the Shiprocket IPO from the list of open IPOs.
4. Enter the Lot Size: Specify the number of lots you want to bid for.
5. Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
6. Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.

Contact Details of Shiprocket IPO 

Address: 416, Phase III, Udyog Vihar, Sector 20, Gurugram, Haryana, 122008

Phone: 9711623070

Email: support@shiprocket.in