Bengaluru: Shiprocket is an end to end, new age, merchant-first, and application programming interface-led technology platform designed to enable e-commerce transactions for India’s MSMEs and digital retailers. Shiprocket platform simplifies e-commerce for Merchants who sell directly to end consumers through their own websites, apps or social media channels, through Shiprocket’s various lines of business aimed at simplifying logistics, checkout, payments, fulfilment, and cross-border trade, enabling Merchants to sell online and offline efficiently and at scale. The company operate on an asset-light business model with a scalable technology platform at the core of its business, supplemented by an extensive network of ecosystem partners. According to the Redseer Report, Shiprocket is the largest new-age end-to-end horizontal e-commerce enablement platform (in terms of revenue from operations) registered in India in Fiscal 2025.
The offer of total issue size aggregating up to Rs. 2,342.3 Crore comprises of a fresh issue of equity shares aggregating up to Rs. 1,100 Crore and an offer for sale of up to Rs. 1,242.3 Crore by the selling shareholders. The face value of each equity share is Rs. 10.
The company proposes to utilise the Net Proceeds towards funding the following objects,
(i) Investment in the growth of the Shiprocket’s platforms by way of;
(a) investment in marketing initiatives primarily for its Emerging Business and for Core Business; and (b) investment in technology infrastructure and capabilities primarily for its Emerging Business and for Core Business.
(ii) Repayment / prepayment, in full or in part, of certain borrowings availed of by the Company including payment of the interest accrued thereon; and
(iii) Funding inorganic growth through unidentified acquisitions and general corporate purposes.
Company’s business is divided into two main segments. Core Business and Emerging Business. Its Core Business includes Domestic Shipping platform and Shipping Apps, which provide managed, end-to-end shipping solutions within India. These services offer multi-modal shipping options, AI-driven logistics provider allocation, and tools for order management and data insights, ensuring seamless post-order experience. Company’s Shipping Apps further enhance operations with features like, order tracking, and secure shipments. Its Emerging Business focuses on new market creation and includes products such as cargo and fulfilment business, cross-border platform, ads and marketing solutions, and others, comprising capital solutions, hyperlocal deliveries and other Merchant solutions within the Emerging Business. Such offerings extend the value proposition by enabling Merchants to improve sales and conversion, and scale of business.
Axis Capital Limited, BofA Securities India Limited, JM Financial Limited and Kotak Mahindra Capital Company Limited are the book running lead managers to the issue.
The Equity Shares that will be offered through the Red Herring Prospectus are proposed to be listed on the Stock Exchanges being BSE Limited (“BSE”) and National Stock Exchange of India Limited (“NSE” together with BSE, the “Stock Exchanges”).
The Company, in consultation with the BRLMs, may consider a further issue of Specified Securities to certain investors, aggregating up to Rs. 220 Crore, as permitted under applicable law, at its discretion, prior to filing of the Red Herring Prospectus with the RoC (“Pre-IPO Placement”). The Pre-IPO Placement, if undertaken, will be at a price to be decided by the Company, in consultation with the BRLMs. If the Pre-IPO Placement is completed, the amount raised pursuant to the Pre-IPO Placement will be reduced from the Fresh Issue, subject to compliance with Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957, as amended. The Pre-IPO Placement, if undertaken, shall not exceed 20% of the size of the Fresh Issue.