Shiprocket files confidential DRHP with SEBI: Plans to Launch ₹2,400 Crore IPO

Logistics tech company Shiprocket is planning to launch its Initial Public Offering (IPO) and has confidentially pre-filed the Draft Red Herring Prospectus (DRHP) with SEBI. The company is backed by top investors like Zomato, Temasek, Info Edge Ventures, PayPal, Bertelsmann India Investments, Lightrock, and March Capital. 

About Shiprocket IPO

The company is planning to raise between ₹2,000 - ₹2,400 crore through the initial public offering (IPO). 

The IPO will also include a fresh share sale worth ₹1,000 - ₹1,200 crore. Investment banks Axis Capital, Kotak Mahindra Capital, JM Financial, and Bank of America have been roped in to manage the IPO process.

The equity shares are to be listed on both the BSE and NSE. The price band and minimum bid lot for the IPO will be decided after consulting the book-running lead managers. 

Utilisation of Funds

As per the media sources, the company will utilise the funds raised through the public issue towards production development, tech upgrades, acquisitions, and logistics and warehousing expansion.

Shiprocket Business Overview

Saahil Goel and Gautam Kapoor founded Shiprocket in January 2012. The platform offers comprehensive shipping, fulfilment, and marketing solutions tailored for SMEs, D2C retailers, and social commerce players in India. It facilitates shipping operations across more than 24,000 pin codes in India and extends its services to 220 countries globally.

The company’s recent financial performance saw a substantial increase in operating revenue to ₹1,316 crore for the fiscal year 2023-24, which marked a 21% year-on-year growth. However, the net loss expanded to ₹ 595 crore from ₹ 341 crore in the previous fiscal year. 

Shiprocket supports more than 250,000 sellers, generating a Gross Merchandise Value (GMV) of over $2.5 billion annually, and delivers to more than 70 million consumers annually. In a strategic move, Shiprocket acquired logistics tech startup Pickrr Technologies in June 2022 for approximately $200 million, enhancing its technological capabilities.