India’s leading logistics tech unicorn Shiprocket has taken a significant step toward going public by confidentially pre-filing its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI). The move positions the fast-growing startup among a new wave of Indian unicorns choosing the confidential route to initiate their Initial Public Offering (IPO) process.
Shiprocket to List on BSE and NSE
In a formal newspaper advertisement, Shiprocket announced its intention to list its equity shares on the main boards of both the BSE (Bombay Stock Exchange) and the NSE (National Stock Exchange). The proposed equity shares have a face value of INR 10 each.
While Shiprocket has not disclosed official details about the IPO size or structure, media reports suggest that the company is aiming to raise between INR 2,000 crore to INR 2,500 crore through the public issue. Out of this, an estimated INR 1,000 Cr to INR 1,200 Cr will be raised through a fresh issue, while the remaining will be raised via an Offer for Sale (OFS) by existing shareholders.
The IPO will enable Shiprocket to not only bolster its balance sheet through fresh capital infusion but also provide an exit opportunity for some of its early investors.
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What Is Shiprocket?
Founded in 2017, Shiprocket has grown to become one of India’s most prominent logistics aggregation platforms, offering tech-driven shipping and fulfillment solutions to thousands of D2C (direct-to-consumer) brands and online sellers. The platform enables small and medium businesses to access affordable shipping via a network of courier partners, alongside tools for order management, warehousing, and last-mile delivery.
With India’s booming e-commerce and D2C ecosystem, Shiprocket’s asset-light, SaaS-enabled logistics model has positioned it as a key enabler of efficient and cost-effective logistics for digital-first brands.
Strong Financials and Unicorn Status
Shiprocket attained unicorn status in August 2022, after a funding round led by Temasek and Lightrock, valuing the company at over $1.2 billion. Backed by marquee investors such as Zomato, Temasek, and Bertelsmann India Investments, the company has demonstrated strong revenue growth and a path toward profitability—making its IPO one of the most anticipated in India’s tech IPO pipeline.
IPO Timing Amid Market Momentum
Shiprocket’s IPO plans come amid a broader revival of India’s primary markets, with multiple startups either going public or preparing for IPOs in 2025. The confidential filing route, introduced by SEBI in 2022, allows companies to test the waters and make necessary changes to their IPO documents before going fully public, offering greater flexibility and reduced scrutiny during the early stages.
The Road Ahead
If the IPO materializes as reported, Shiprocket will join the ranks of listed Indian tech startups like Zomato, Nykaa, and Delhivery, further validating the long-term prospects of India’s digital-first logistics and e-commerce ecosystem.
As Shiprocket gears up for its public debut, the IPO is expected to not only fund strategic expansions and tech innovation but also set the stage for scaling global ambitions in the logistics tech space.
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