Shiprocket IPO is set to take the market by storm as the logistics-tech unicorn, backed by marquee investors like Zomato and Temasek, prepares to raise between ₹2,000 and ₹2,400 crore in 2025. This move positions Shiprocket as one of the most anticipated public offerings in the startup ecosystem, marking its transition from a high-growth private company to a listed entity.
Investors And Advisors Fuel The IPO Plan
The IPO process kicked off with a high-level meeting outlining strategic plans and responsibilities for advisors. Investment banks like Axis Capital, Kotak Mahindra Capital, JM Financial, and BofA Securities are steering the deal, according to sources. The offering is expected to primarily comprise an Offer for Sale (OFS), with a possible fresh issue to support the company’s capital requirements.
Shiprocket’s investors include prominent names such as Info Edge Ventures, PayPal, Bertelsman India Investments, Lightrock, and March Capital, in addition to Zomato and Temasek. Regulatory clearance from the Competition Commission of India (CCI) earlier this month paved the way for minority stake acquisitions by MUFG Bank and KDT Venture Holdings.
Financial Performance And Strategic Focus
Shiprocket’s revenue for FY2023-24 reached ₹1,316 crore, reflecting a 21% year-on-year growth. However, the company reported a net loss of ₹595 crore due to restructuring costs and substantial ESOP issuances. Despite these setbacks, Shiprocket has focused on improving profitability, with the first two quarters of FY2024 already showing positive results. The company halved its EBITDA cash burn from ₹191 crore in FY23 to ₹100 crore in FY24, underscoring its strategic pivot towards sustainable growth.
Global Operations And Acquisitions
Founded in January 2012 by Saahil Goel and Gautam Kapoor, Shiprocket has expanded its global footprint with group companies in Singapore, Dubai, and the USA. In June 2022, it acquired Pickrr Technologies for $200 million, further strengthening its logistics tech capabilities.
Shiprocket facilitates both domestic and international deliveries, covering 24,000+ pin codes across India and 220 countries globally. It has onboarded 25+ courier partners and provides a robust technology stack to integrate platforms like Shopify, Magento, Woocommerce, and Zoho.
Empowering Retailers And SMEs
The platform serves over 2.5 lakh sellers, generating a Gross Merchandise Value (GMV) of more than $2.5 billion annually. Its technology enables seamless order management, shipping label printing, payment reconciliation, and Cash on Delivery (COD) handling. Shiprocket’s fulfilment solutions boast 35+ warehouses across India, ensuring fast and reliable delivery services.
Why Shiprocket’s IPO Matters?
The IPO represents a significant milestone for the Indian startup ecosystem, particularly in the e-commerce enablement space. With a strong focus on innovation, profitability, and global reach, Shiprocket is poised to attract substantial investor interest. The company’s rapid growth trajectory and robust operational model make it a compelling story for both retail and institutional investors.
As Shiprocket moves closer to its IPO, it continues to revolutionize logistics and e-commerce enablement in India and beyond, setting benchmarks for other startups aiming for similar success.