Shiprocket plans to raise ₹2K cr-2.5K crore via confidential IPO route

Logistics unicorn Shiprocket is preparing a ₹2,000-2,500 crore IPO comprising fresh issue and OFS, with proceeds likely to go into tech, warehousing, and expansion

Temasek- and Zomato-backed logistics unicorn Shiprocket is preparing to confidentially file for an initial public offering (IPO) with the Securities and Exchange Board of India (Sebi), sources familiar with the matter told Business Standard. The company plans to raise around ₹2,000–2,500 crore through the public issue.

 

The offer is expected to comprise a mix of a fresh issue and an offer for sale (OFS) by existing investors. The company has onboarded Axis Capital Ltd, BofA Securities, JM Financial, and Kotak Mahindra Capital Company Ltd as merchant bankers, according to the sources. 

 

“The proceeds from the fresh issue, if included, are expected to be used for product development, strategic acquisitions, expansion of logistics and warehousing infrastructure, and strengthening its technology stack,” one of the sources said.

 

Earlier, the Gurugram-headquartered company converted into a public limited company in preparation for the IPO.

 

Shiprocket currently processes over ₹25,000 crore in gross merchandise value (GMV) for nearly 1.5 lakh sellers and is growing at an annual rate of approximately 30 per cent. It derives up to 60 per cent of its business from non-metro markets. The company also processes more than 490 million e-commerce transactions.

 

It has over 400,000 merchants and covers 19,000 pin codes across India, in addition to reaching more than 160 countries through its cross-border logistics capabilities.

 

Among the direct-to-consumer (D2C) brands leveraging Shiprocket’s end-to-end logistics solutions are Mamaearth, Giva, mCaffeine, and Bellavita.