Logistics and shipping platform Shiprocket, backed by Bertelsmann, Temasek, Tribe Capital and Eternal, has filed an updated Draft Red Herring Prospectus (UDRHP) with SEBI to raise ₹2,342.3 crore through an initial public offering (IPO).
As per the filing dated December 12, the IPO will consist of a fresh issue worth ₹1,100 crore and an offer-for-sale (OFS) of ₹1,242.3 crore by existing shareholders. Key investors participating in the OFS include Bertelsmann, Tribe Capital, Lightrock, Arvind, Gautam Kapoor, Saahil Goel, and Vishesh Khurana.
Shiprocket may also undertake a pre-IPO placement of up to ₹220 crore, which will be part of the fresh issue. Currently, public shareholders hold 91.52% stake in the company, while the Shiprocket Employee ESOP Trust owns 8.48%. Among institutional investors, Bertelsmann Nederland is the largest shareholder with 21.32%, followed by Tribe Capital (14.14%), Eternal (6.85%), and Temasek-backed MacRitchie Investments (5.29%).
The company plans to deploy ₹505 crore from the IPO proceeds to expand its platforms and ₹210 crore to repay debt. As of September 2025, Shiprocket’s total borrowings stood at ₹233.8 crore, with the remaining funds earmarked for acquisitions and general corporate purposes.
Founded in 2011, Shiprocket describes itself as India’s largest new-age horizontal e-commerce enablement platform, serving merchants that sell directly to consumers through websites, apps and social media. Its listed peer is Unicommerce Esolutions.
On the financial front, Shiprocket reported a loss of ₹38.3 crore in the six months ended September 2025, down from ₹42.3 crore a year earlier, while revenue rose 15.4% to ₹942.7 crore. For FY25, losses narrowed sharply to ₹74.4 crore, with revenue growing 24% to ₹1,632 crore.
The IPO is being managed by Axis Capital, BofA Securities India, JM Financial and Kotak Mahindra Capital Company.
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