Shiprocket is an e‑commerce enablement platform that focuses on technology rather than just logistics. It earns about 6% of the value of goods processed on its platform.
In the year to March 2026, its newer businesses—advertising, checkout, cross‑border—rose 65%, while core shipping grew 14%. This shows a shift from pure logistics to full‑stack services.
These newer services contributed ₹538.7 crore, about 27% of total revenue, up from 18% two years earlier. Total revenue grew 24% to ₹2,024 crore.
The net loss narrowed to 3.91% of revenue, down from 45% in FY24, indicating improved profitability.
Shiprocket plans to raise ₹1,617.5 crore in its IPO, priced between ₹92 and ₹97 a share. The fresh issue will be ₹885.5 crore, plus an OFS of ₹732 crore.
Existing shareholders such as Lightrock, Tribe Capital, and others will sell shares in the OFS, reducing their stakes.
The company had earlier targeted ₹2,342.3 crore but trimmed the offer to meet market conditions.
Proceeds from the fresh issue will be used for marketing, technology upgrades, and to pay off some debt. Some money will also go to potential acquisitions and general corporate needs.
At the top price, the post‑issue valuation will be about ₹7,058 crore; at the bottom, ₹6,739 crore.
Shiprocket is backed by investors like Temasek and Zomato and serves D2C brands and MSMEs across India. It operates a core shipping platform and an emerging business with fulfilment, advertising, capital solutions, and hyper‑local deliveries.
The IPO is mainly for institutional investors (75% QIB), with 15% for non‑institutional and 10% for retail. Shares will list on BSE and NSE on Aug 19.
Book‑running managers include Axis Capital, BofA Securities, JM Financial and Kotak Mahindra Capital. The registrar is KFin Technologies.
The company filed its draft papers in May and got SEBI approval in November. The public issue opens on Aug 12, closes Aug 14, with anchor bidding on Aug 11.