Gurugram-based Shiprocket, which offers shipment and checkout services to direct-to-consumer (D2C) brands, has filed an updated draft red herring prospectus (UDRHP) for a Rs 2,342 crore initial public offering (IPO).
Through the offering, Shiprocket is looking to raise Rs 1,100 crore in fresh capital, while investors including Tribe Capital, Arvind Ltd, March Capital and Bertelsmann are selling shares through the offer-for-sale (OFS) component. Founders Saahil Goel, Gautam Kapoor and Vishesh Khurana are also partially offloading their stakes in the IPO.
Lightrock is selling the biggest chunk in the OFS portion at Rs 258 crore, followed by textile maker Arvind at Rs 161 crore. Founders Goel and Kapoor will make Rs 144 crore each from their stake sale, while Khurana — who moved on from Shiprocket to join investor Tribe Capital in 2024 — is selling a stake worth Rs 37 crore.
According to people in the know, Shiprocket is targeting a listing in the first quarter of FY27.
For the six months ended September, Shiprocket reported operating revenue of Rs 943 crore, up 15% year-on-year (YoY). Its net loss during the period contracted to Rs 38 crore, compared to Rs 42 crore in April-September 2024.
The company offers a suite of services to D2C brands and small and medium businesses that help them sell online across ecommerce marketplaces, own websites, and even export their goods.
Shiprocket was founded in 2012 as a shipping enabler, aggregating logistics service providers on its platform for brands and sellers. Around 75% of the company’s revenue comes from its core business.
The company claims a net revenue retention of 103.51% for fiscal 2025 in its core business — meaning a merchant using its platform is spending more by using Shiprocket’s services than they did in the previous year.
Shiprocket’s customer acquisition cost has also been coming down over the years, with the core business becoming operationally profitable. For April-September 2025, it spent Rs 282 to onboard one new merchant on its platform, compared to Rs 346 in the same period last year.
Over the last few years, Shiprocket has also launched new adjacencies to its business and has been focussing on growing the use of these services, which include ads and marketing solutions, international shipments, warehousing and fulfilment, and financial services.
These emerging businesses contribute about a fourth to Shiprocket’s revenue.
Of the Rs 1,100 crore it is raising from the IPO, Shiprocket plans to deploy Rs 294 crore towards marketing initiatives for its core and emerging businesses, while Rs 211 crore will be used for investment in technology infrastructure capabilities. In 2022, the company made three acquisitions — fulfilment technology platform Glaucus, logistics aggregator startup Pickrr, and omnichannel commerce management platform Omuni.
Source: www.msn.com