Leading logistics platform Shiprocket is preparing to file its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) through the confidential route. The company is targeting a public issue size between ₹2,000 crore and ₹2,500 crore, making it one of the most anticipated IPOs in India’s tech space this year.
IPO Structure: Confidential Filing, Fresh Issue, and Offer for Sale
Confidential Filing Route
Shiprocket will use SEBI’s confidential pre-filing process, which allows companies to keep sensitive financial and business information private until SEBI completes its review. This approach helps protect internal data and gives companies flexibility in timing their public disclosures.
Breakdown of the Issue
- The IPO will include a fresh issue of shares worth ₹1,000–1,200 crore.
- The remaining amount will be an Offer for Sale (OFS) by existing shareholders.
- Major investment banks have been appointed to manage the public issue.
Planned Use of Funds
Proceeds from the fresh issue are expected to be used for:
- Expanding logistics and warehousing infrastructure
- Investing in technology and product innovation
- Supporting strategic acquisitions and business growth
Shiprocket’s Journey and Business Model
From Shipping Aggregator to eCommerce Enabler
Founded in 2012, Shiprocket has grown from a logistics aggregator to a comprehensive eCommerce enablement platform. The company serves over 1.5 lakh sellers, processes hundreds of millions of eCommerce orders annually, and offers shipping solutions across thousands of Indian pin codes and to over 160 countries.
Extensive Network and Partnerships
Shiprocket works with a wide range of courier partners, enabling seamless delivery and logistics solutions for direct-to-consumer (D2C) brands and online sellers across the country.
Financial Performance Snapshot
Revenue Growth and Profitability Focus
- Shiprocket’s operating revenue increased by 21% in FY24, reaching ₹1,316 crore.
- Net loss widened to ₹595 crore in FY24, reflecting investments in technology, expansion, and recent acquisitions.
- The company has reported positive cash flow in the current financial year, highlighting its focus on sustainable growth.
Industry Trend: Surge in Confidential IPO Filings
Shiprocket’s move to file confidentially aligns with a growing trend among Indian tech companies. Many startups are choosing this route to better manage the timing of their disclosures and protect sensitive business information as they prepare for public listings.
What Lies Ahead?
With board approval secured and its conversion to a public entity completed, Shiprocket’s IPO filing is expected soon. The company’s strong growth, innovative platform, and focus on technology make it a standout in India’s fast-growing eCommerce logistics sector.