About Shiprocket IPO
Shiprocket Limited is set to launch its IPO for public subscription on August 12, 2026, and will remain open until August 14, 2026.
The Shiprocket IPO price band is set at ₹92–₹97 per equity share. The allotment is expected to be finalised on August 17, 2026.
The Shiprocket IPO is a ₹1,617.48 crore book-building issue, comprising a fresh issue of ₹885.50 crore and an offer for sale (OFS) of up to 7,54,62,363 equity shares (₹731.98 crore), with a face value of ₹10 each.
Business Overview of Shiprocket
Shiprocket Limited, headquartered in Delhi, is India's largest new-age end-to-end e-commerce enablement platform by revenue (FY25). The company provides technology-driven logistics, fulfilment, and commerce solutions to MSMEs, D2C brands, and large retailers.
The platform handles over 70 million shipments annually with a Gross Merchandise Value (GMV).
Shiprocket serves customers across 146 countries through international shipping across 5 major shipping lanes.
Key Highlights of Shiprocket Limited Include:
| Particulars | Details |
|---|---|
| Headquarters | Delhi |
| Platform | E-commerce enablement — shipping, fulfilment, commerce solutions |
| Annual Shipments | 70 million+ |
| GMV Processed | $5 billion+ (~₹70,400 crore) |
| International Reach | 146 countries, 5 major shipping lanes |
| Revenue Model | Usage-based pricing (per shipment/transaction/GMV) |
| Key Investors | Zomato, Temasek, Info Edge Ventures, PayPal, Bertelsmann, Lightrock |
| Total Funding Raised | $320 million+ (~₹2,800 crore) |
Shiprocket also offers:
- Fulfilment centres and warehousing
- Cargo and heavy logistics
- Omnichannel commerce solutions (Shiprocket Omuni)
- International shipping with customs support
- Advertising, marketing tools, checkout, and payment solutions
- Business loans and hyperlocal delivery services
Shiprocket IPO Date, Price, and Other Details
The following are the details of the upcoming Shiprocket Limited IPO.
| Particulars | Details |
|---|---|
| IPO Size | Book Build issue of ₹1,617.48 crore |
| Offer Type | Fresh issue of ₹885.50 crore + OFS of ₹731.98 crore |
| Total Number of Equity Shares | 16,67,61,566 shares |
| Price Band | ₹92 to ₹97 per share |
| Issue Dates | Opens: Aug 12, 2026 · Closes: Aug 14, 2026 |
| Anchor Investor Date | Aug 11, 2026 |
| Minimum Bid Lot | 1 lot of 154 shares |
| Minimum Investment (Retail) | ₹14,938 (at upper band) |
| Allotment Date | Aug 17, 2026 |
| Credit to Demat | Aug 18, 2026 |
| Listing Date | Aug 19, 2026 |
| Face Value | ₹10 per share |
| Lead Managers (BRLMs) | Axis Capital Ltd., BofA Securities India Ltd., JM Financial Ltd., Kotak Mahindra Capital Co. Ltd. |
| Registrar | Kfin Technologies Ltd. |
| Listing Exchanges | National Stock Exchange of India (NSE) & Bombay Stock Exchange (BSE) |
Shiprocket IPO Reservation: Who Can Apply?
The Shiprocket IPO has the following category reservations from Retail to HNIs:
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 154 | ₹14,938 |
| Retail (Max) | 13 | 2,002 | ₹1,94,194 |
| S-HNI (Min) | 14 | 2,156 | ₹2,09,132 |
| S-HNI (Max) | 66 | 10,164 | ₹9,85,908 |
| B-HNI (Min) | 67 | 10,318 | ₹10,00,846 |
(Note: Retail allocation is 10% (not standard 35%), QIB 75%, NII 15%.)
Strengths and Risks of Shiprocket IPO
With every business owning its strengths and risks, even the Shiprocket IPO has its potential plus points and downsides to be aware of.
Here is a brief business analysis (as per RHP) below:
Strengths
- India's largest new-age end-to-end e-commerce enablement platform by revenue (FY25), with a technology-driven, platform-based business model.
- Revenue grew 24% YoY to ₹2,077.42 crore in FY26. EBITDA losses narrowed to ₹16.56 crore, approaching operating break-even.
- Diversified service offering spanning shipping, fulfilment, omnichannel commerce, international logistics, advertising, checkout, business loans, and hyperlocal delivery.
- Cross-border shipping now contributes ~20% of revenue, providing geographic diversification across 146 countries.
- Acquisition of Pickrr Technologies for ~$200 million boosted technology capabilities and market reach.
- Strong investor base including Zomato, Temasek, Info Edge Ventures, PayPal, and Bertelsmann.
Risks
- Still loss-making — FY26 net loss of ₹79.25 crore (FY25: ₹74.45 crore loss). Conventional P/E valuation cannot be meaningfully applied.
- No identifiable promoter — the company is widely held by financial investors and founders without a single controlling promoter group.
- Capital-intensive expansion — future growth requires continuous investment in warehousing, delivery infrastructure, and technology upgrades.
- Highly competitive sector — faces competition from established logistics companies, courier aggregators, and tech platforms both domestically and globally.
- IPO price band is approximately 30% lower than the company's last private funding round in late 2024 — a down-round signal.
- Regulatory and operational risks — logistics and e-commerce regulations are evolving; compliance costs may rise.
Future Plans/Strategies
- Shiprocket plans to invest in business expansion, technology infrastructure upgrades, and marketing efforts using fresh issue proceeds.
- From its IPO proceeds, company will repay/prepay outstanding borrowings (₹242.01 crore outstanding) to strengthen the balance sheet.
- Expand fulfilment centre network and warehousing capacity across India.
- Deepen cross-border shipping capabilities and international market reach.
- Listing on exchanges to enhance visibility and support long-term growth plans.
Shiprocket IPO Objectives – How Will the Funds Be Used?
The Shiprocket IPO comprises both a fresh issue (₹885.50 crore) and an OFS (₹731.98 crore). The company will receive proceeds only from the fresh issue. The OFS proceeds will go to the selling shareholders.
| Objective | Amount (₹ million) |
|---|---|
| Business expansion and growth initiatives | 3,656.00 |
| Technology infrastructure upgrades | 2,058.00 |
| Marketing and brand building | 1,598.00 |
| Repayment of outstanding borrowings | 2,100.00 |
| General corporate purposes | Shall not exceed 25% of gross proceeds |
Promoter Shareholding of Shiprocket IPO
Shiprocket has no identifiable promoter. The company is widely held by financial investors and founders, like;
- Zomato Ltd.
- Temasek (via March Capital)
- Info Edge Ventures
- Bertelsmann India Investments
- Lightrock India
- Saahil Goel (Co-Founder)
- Vishesh Khurana (Co-Founder)
Financial Performance (₹ in crores) of Shiprocket IPO
Here's the table outlining the financial performance of Shiprocket Limited from FY 2024 to FY 2026.
(in crores)
| Period Ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 2,504.77 | 2,308.62 | 2,051.22 |
| Total Income | 2,077.42 | 1,674.82 | 1,357.83 |
| Profit After Tax | -79.25 | -74.45 | -595.18 |
| EBITDA | -16.56 | -17.16 | -495.89 |
| NET Worth | 1,524.29 | 1,491.23 | 1,284.16 |
| Total Borrowing | 242.01 | 244.67 | 213.28 |
Key Performance Metrics of Shiprocket
Based on the financials available in the RHP, the following key performance metrics of Shiprocket IPO can be considered.
| Key Metric | FY26 | FY25 | FY24 | Investor Insight |
|---|---|---|---|---|
| Revenue from Operations | ₹2,024 cr | ₹1,632 cr | ₹1,316 cr | Strong and consistent ~24% YoY growth |
| Emerging Business Revenue | ₹539 cr | ₹326 cr | ₹231 cr | Rapid growth; ~65% YoY in FY26 |
| Core Business EBITDA Margin | 12.56% | 12.02% | 6.65% | Strong improvement in core profitability |
| Emerging Business EBITDA Margin | -31.37% | -45.97% | -86.52% | Improving but remains loss-making |
| Repeat Consumer Rate | 57.78% | 51.11% | 46.79% | Rising repeat usage indicates stronger customer retention |
| Core Business CAC | ₹2,829 | ₹3,361 | ₹4,101 | Falling acquisition cost indicates improving efficiency |
| Net Asset Value per Equity share (in ₹) | 23.96 | 23.44 | 21.63 | Gradual improvement in book value per share |
(Note: Refer to the RHP for complete details.)
Registrar of Shiprocket IPO
The Registrar of Shiprocket IPO is Kfin Technologies Ltd.
Phone: 040-79615565
Website: https://ipostatus.kfintech.com/
Lead Managers of Shiprocket IPO
In total, 4 lead managers are handling the IPO process of Shiprocket Limite,d namely;
- Axis Capital Ltd.
- BofA Securities India Ltd.
- JM Financial Ltd.
- Kotak Mahindra Capital Co. Ltd...
