Shiprocket Files Updated IPO Papers With SEBI To Raise Rs 2,342 Crore

Temasek-backed e-commerce enablement platform Shiprocket has filed updated draft papers with SEBI to raise over Rs 2,342 crore through an initial public offering (IPO), according to its updated draft red herring prospectus.

The IPO comprises a fresh issue of equity shares worth up to Rs 1,100 crore and an offer for sale (OFS) of Rs 1,242.3 crore by existing shareholders, including Lightrock, Tribe Capital, Bertelsmann, Arvind Ltd, Gautam Kapoor, Saahil Goel, and Vishesh Khurana.

Proceeds from the fresh issue will be used to strengthen Shiprocket’s platforms through marketing initiatives, technology infrastructure upgrades for core and emerging businesses, repayment or prepayment of certain borrowings, and inorganic growth via acquisitions, along with general corporate purposes.

Shiprocket may also pursue a pre-IPO placement of up to Rs 220 crore, which would reduce the size of the fresh issue if undertaken. Axis Capital, BofA Securities India, JM Financial, and Kotak Mahindra Capital Company are the book-running lead managers for the issue.

Shiprocket has evolved from a shipping provider to a full-stack e-commerce enabler for direct-to-consumer brands and MSMEs. It operates through two segments which are Core Business, that includes domestic shipping and logistics solutions, and Emerging Business, which covers cargo and fulfilment services, cross-border shipping, marketing solutions, capital services, and hyperlocal deliveries.

The company follows an asset-light model built around a scalable technology platform and an extensive network of ecosystem partners.

Shiprocket initially filed its IPO papers confidentially in May and received SEBI approval in November, requiring updated documents before launch.

The Gurugram-based company clocks over Rs 25,000 crore in gross merchandise value for its 1.5 lakh sellers and grows at an annual rate of approximately 30%.

Shiprocket processes over 490 million e-commerce transactions and serves over 12 crore end consumers through its core business. It enables over 4 lakh merchants to scale online, supported by a logistics network that covers 19,000 pin codes across India and reaches over 160 countries via its cross-border capabilities.

D2C Brands like Mamaearth, Giva, mCaffeine, and Bellavita leverage Shiprocket's end-to-end solutions to streamline operations, improve delivery performance, and expand their reach.

(With inputs from PTI)