Upcoming IPO: Shiprocket Files UDRHP with SEBI to Raise ₹2,342 Crore

Temasek-backed e-commerce enablement firm Shiprocket has filed updated draft papers with market regulator SEBI, seeking to raise ₹2,342 crore through an initial public offering (IPO).

Shiprocket IPO Details

According to the updated draft red herring prospectus (UDRHP), the proposed public issue comprises a fresh equity issuance of up to ₹1,100 crore, along with an offer for sale (OFS) aggregating ₹1,242.3 crore by existing shareholders.

As part of the OFS, investors including Lightrock, Tribe Capital, Bertelsmann, Arvind Ltd, Gautam Kapoor, Saahil Goel and Vishesh Khurana will pare their holdings. Axis Capital, BofA Securities India, JM Financial and Kotak Mahindra Capital Company have been appointed as the book-running lead managers for the issue. The company plans to list its shares on both the BSE and NSE.

Use of IPO proceeds

Shiprocket intends to deploy the fresh capital to accelerate the growth of its platforms, with a focus on scaling marketing initiatives and strengthening its technology infrastructure across both core and emerging business segments, as per the filings made on Friday.

A portion of the proceeds will also be used to repay or prepay certain borrowings, along with accrued interest. Additionally, the company plans to allocate funds toward inorganic growth opportunities through potential acquisitions and for general corporate purposes.

The company may also explore a pre-IPO placement of up to ₹220 crore. If executed, this would result in a corresponding reduction in the size of the fresh issue.

About Shiprocket Limited

Shiprocket has evolved from a logistics-focused startup into a full-stack e-commerce platform catering to direct-to-consumer (D2C) brands and micro, small and medium enterprises (MSMEs). Shiprocket operates through two key verticals: Core Business and Emerging Business.

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Its Core Business includes the domestic shipping platform and related applications, offering end-to-end logistics solutions across India. These services span multi-modal transportation, AI-powered logistics optimisation, and integrated tools for order management and shipment tracking. The Emerging Business segment, which includes marketing and automation solutions, recorded a 41% year-on-year growth in FY25, reaching ₹326 crore.

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