Shiprocket to quickly file confidential prospectus for Rs 2,000-2,500 crore IPO, ETCFO
Zomato-backed ecommerce logistics firm Shiprocket is anticipated to file a draft prospectus with the Securities and Trade Board of India (Sebi) shortly for its preliminary public providing (IPO), three individuals within the know informed ET.
“Shiprocket’s board has permitted the IPO plan and the corporate is planning to file its papers in a day or two underneath Sebi’s confidential submitting route. It’s focusing on a measurement of Rs 2,000-2,500 crore for the difficulty,” one of many individuals mentioned.
The confidential submitting mechanism permits corporations to delay public disclosures of their financials and different particulars concerning the IPO. Wearables maker Boat and edtech platform PhysicsWallah have additionally submitted their prospectuses underneath the confidential submitting route and they’re at the moment being processed. Final 12 months, meals and grocery supply firm Swiggy additionally went public after making confidential filings.
Final month, Gurgaon-based at-home companies City Firm additionally filed its prospectus for a Rs 1,900-crore IPO.
By means of the IPO, Shiprocket is seeking to increase round Rs 1,000-1,200 crore in recent capital, one other individual conscious of the matter informed ET. Shiprocket has employed Axis Capital, Kotak Mahindra, JM Monetary and Financial institution of America as service provider bankers for its IPO, the individual mentioned.
“The corporate has grown within the vary of 20-25% in fiscal 12 months 2025 regardless of the broader ecommerce progress in the course of the 12 months being in single digits. Greater than half of the retailers on Shiprocket’s platform are from tier-II and tier-III cities,” an investor within the know mentioned.
Throughout FY24, the corporate’s working income had grown 21% to Rs 1,316 crore. The corporate had undertaken a restructuring train in FY23 when it merged a number of of its acquisitions. This resulted in a continued affect on the underside line as its web loss widened to Rs 595 crore for the fiscal 12 months ended March 2024, from Rs 341 crore the 12 months earlier than.
These acquisitions included retail software program options platform Omuni, intracity trucking aggregator RocketBox, and logistics administration options supplier Pickrr. Based on the investor cited above, Shiprocket turned cash-flow optimistic in FY25.
Shiprocket didn’t touch upon the event.
Based in 2012, Shiprocket manages shipments for direct-to-consumer (D2C) manufacturers and on-line sellers, which account for a good portion of its income. The corporate has additionally been increasing its focus to different areas, together with cross-border transport, checkout and fulfilment companies.
Listed firm Unicommerce, which went public final 12 months, turned a direct competitor to Shiprocket with its acquisition of Shipway in November 2024.
Moreover ecommerce logistics, which nonetheless contributes round 70-80% of its income, Shiprocket is specializing in three main areas of progress, one of many individuals mentioned. These are funds, cross-border transport, and fast commerce.
Beneath its fast commerce vertical, the corporate is aggregating hyperlocal logistics service suppliers corresponding to Porter, Borzo, Shadowfax and others to be used by retailers and SMEs. “Shiprocket has additionally began working with fast commerce corporations like Zepto and Swiggy Instamart, serving to D2C manufacturers replenish inventory at darkish shops and warehouses,” the individual cited above mentioned.
In December, the corporate raised $26 million (Rs 219 crore) from US conglomerate Koch Group, Japan-based MUFG Financial institution, Silicon Valley investor Tribe Capital, Susquehanna Worldwide Group, and Huddle Ventures at a valuation of $1.2 billion. The funding was an extension of Shiprocket’s 2022 funding spherical, which occurred on the identical valuation.
The corporate additionally counts traders corresponding to Temasek, Bertelsmann India Investments, PayPal, Lightrock, March Capital and Information Edge Ventures amongst its backers.
