Gurugram-based Shiprocket, a leading provider of shipment and supply chain services to direct-to-consumer (D2C) brands and small businesses, has filed an updated draft red herring prospectus (UDRHP) for a massive Rs 2,342 crore initial public offering (IPO).
The company aims to raise Rs 1,100 crore in fresh capital, while existing investors, including Tribe Capital, Arvind Ltd, March Capital, and Bertelsmann, will sell shares through the offer-for-sale (OFS) component. The company's founders, Saahil Goel, Gautam Kapoor, and Vishesh Khurana, will also partially sell their stakes in the IPO.
The offer-for-sale (OFS) component will see Lightrock selling the largest chunk of Rs 258 crore, followed by Arvind Ltd at Rs 161 crore. Founders Goel and Kapoor will each receive Rs 144 crore from their stake sale, while Khurana will sell a stake worth Rs 37 crore.
For the six months ended September, Shiprocket reported an operating revenue of Rs 943 crore, up 15% year-on-year (YoY). The company's net loss in the period contracted to Rs 38 crore from Rs 42 crore in April-September 2024.
Shiprocket offers a suite of services to D2C brands and small businesses, helping them sell online across ecommerce marketplaces, their own websites, and even export their goods. The company claims a net revenue retention of 103.51% for fiscal 2025 in its core business.
The company has also launched new services, including ads and marketing solutions, international shipments, warehousing and fulfilment, and financial services. These emerging businesses contribute about a quarter of Shiprocket's revenue.
Of the Rs 1,100 crore it hopes to raise from the IPO, Shiprocket plans to deploy Rs 294 crore towards marketing initiatives for its core and emerging businesses, while Rs 211 crore will be used for investment in technology infrastructure capabilities.
The company is targeting a listing in the first quarter of FY27 and is expected to use the proceeds from the IPO to fuel its growth and expansion plans.
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