New Delhi-based logistics technology platform Shiprocket has taken a major step toward becoming a publicly traded company, filing its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO) worth Rs 2,342 crore. The development marks a significant milestone in the firm’s four-year journey from a shipping aggregator to a leading logistics enabler for India’s burgeoning e-commerce sector.
As first reported in the article “Shiprocket Files UDRHP for Rs 2,342 Crore IPO” by Startupnews.fyi, the proposed offering will include a mix of fresh issue of shares and an offer for sale (OFS) by existing shareholders. According to the draft prospectus, Shiprocket intends to raise Rs 900 crore through the issuance of fresh shares, while the remaining Rs 1,442 crore will be comprised of shares sold by early investors.
The OFS component will see participation from several notable stakeholders, including investors such as Bertelsmann, Temasek, and Lightrock, among others. Founders of the company will also partially divest their holdings through the offering. Although the DRHP did not disclose the expected valuation, market sources suggest that the startup could target a valuation in the range of $1.5 to $1.7 billion post-IPO, depending on market conditions.
Funds raised from the fresh issue are expected to be deployed toward organic growth initiatives, including product development, technology upgrades, and customer acquisition efforts. A portion will also be allocated for potential inorganic growth through strategic acquisitions designed to bolster Shiprocket’s logistics infrastructure and value-added services.
Founded in 2017, Shiprocket has grown rapidly on the back of India’s D2C (direct-to-consumer) e-commerce boom, offering shipping and fulfillment solutions tailored for small and medium online businesses. The platform currently partners with more than 250,000 sellers and integrates with over 25 courier companies to offer pan-India delivery.
Over the last two years, the company has expanded into new verticals, including warehousing and cross-border logistics. Its scaling strategy has been bolstered by multiple acquisition-led entries into adjacent markets, including the recent purchases of logistics service provider Rocketbox and warehouse network platform Pickrr.
Shiprocket’s IPO marks yet another signal of resilience in India’s public markets for tech-enabled startups, following tepid investor sentiment in the wake of volatility observed in earlier listings. Analysts are closely watching the offering for indications of how logistics tech firms—especially those with a focus on SME enablement—will fare on domestic exchanges going forward.
The company has appointed Kotak Mahindra Capital, Axis Capital, and JM Financial as lead book-running managers for the IPO. Upon approval from SEBI and subject to market conditions, the offering is expected to launch in the first half of 2025.
Shiprocket’s move to the public market, as outlined in its DRHP filing and summarized by Startupnews.fyi, underscores the maturing of India’s logistics tech sector and investor confidence in platforms enabling the country’s fast-growing digital commerce ecosystem.
