Business
Eternal and Temasek-backed Shiprocket files updated DRHP for Rs 2,342 crore IPO
Shiprocket operates an end-to-end, API-led e-commerce enablement platform focused on serving India’s MSMEs and digital retailers. The platform helps merchants sell directly to consumers through their own websites, mobile applications and social commerce channels by simplifying logistics, checkout, payments, fulfilment and cross-border trade.
The company follows an asset-light model, with its technology platform supported by a wide network of ecosystem partners.
According to a Redseer report cited in the filing, Shiprocket was the largest new-age, end-to-end horizontal e-commerce enablement platform registered in India in FY25 in terms of revenue from operations. The company’s business is organised into two segments: Core Business and Emerging Business.
The core business includes its domestic shipping platform and shipping apps, which provide managed, end-to-end shipping solutions within India.
These offerings include multi-modal shipping options, AI-driven logistics partner allocation, order management tools and data insights aimed at improving post-order customer experience. The shipping apps also offer features such as order tracking and shipment security.
The emerging business segment focuses on building new revenue streams and market opportunities. This includes cargo and fulfilment services, a cross-border platform, advertising and marketing solutions, capital solutions, hyperlocal deliveries and other merchant-focused offerings.These services are designed to help merchants improve sales conversion, expand reach and scale their operations both online and offline.
The company plans to use the net proceeds from the IPO to invest in the growth of its platforms, including marketing initiatives and technology infrastructure for both its core and emerging businesses.
Part of the proceeds will also be used to repay or prepay certain borrowings, while the remainder will be allocated toward inorganic growth through potential acquisitions and general corporate purposes.
Axis Capital, BofA Securities India, JM Financial and Kotak Mahindra Capital Company are the book-running lead managers to the issue.
Shiprocket may also consider a pre-IPO placement of securities aggregating up to Rs 220 crore before filing the red herring prospectus, subject to regulatory approvals. If undertaken, the amount raised through such a placement would be deducted from the fresh issue size.
