Shiprocket, a leading logistics and supply chain technology platform, has pre-filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) and the stock exchange, as confirmed by a recent newspaper advertisement released by the company. However, the advertisement clearly states that this submission does not guarantee that the company will proceed with its initial public offering (IPO).
Headquartered in New Delhi, Shiprocket is reportedly targeting to raise between ₹2,000 crore and ₹2,400 crore through its IPO. This fundraising round is expected to include a primary issue of ₹1,000–1,200 crore, with the remaining capital raised through an offer for sale (OFS).
For this public offering, Shiprocket has appointed prominent investment banks, including Axis Capital, Kotak Mahindra, JM Financial, and BofA Securities, to manage the process. Earlier this year, the Temasek-backed company transitioned into a public limited company, marking a significant milestone on its path to going public.
Founded by Saahil Goel, Gautam Kapoor, and Vishesh Khurana, Shiprocket offers a comprehensive logistics and supply chain platform designed to simplify shipping for businesses. The company integrates with multiple courier partners, provides real-time tracking, and automates shipping solutions, thereby streamlining order fulfillment for its users.
Since inception, Shiprocket has raised over $320 million and currently holds a valuation of approximately $1.21 billion. According to the startup data intelligence platform TheKredible, Bertelsmann Nederland B.V. is the largest external shareholder, followed by Tribe. Other notable investors include Zomato, Temasek, LightRock, and PayPal.
In the fiscal year ending March 2024, Shiprocket reported a revenue of ₹1,316 crore, reflecting a 21% year-on-year growth. Despite this progress, the company posted losses amounting to ₹595 crore during the same period.
In the competitive logistics tech space, Shiprocket faces rivals such as Unicommerce, which recently expanded through the acquisition of Shipway, as well as other players like Shipyar. The company’s IPO will be closely watched as a barometer for investor sentiment in India’s burgeoning logistics and supply chain sector.
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