Team StartupCity

• The logistics tech startup has submitted revised IPO documents to SEBI, moving a step closer to its public market debut.
• The IPO will include Rs 1,100 crore fresh equity issue, along with an offer for sale by existing investors and founders.
• Proceeds from the fresh issue will be used to scale operations, strengthen technology infrastructure, repay debt, and support future acquisitions.

Logistics and supply chain platform Shiprocket has filed an updated draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for its proposed initial public offering (IPO) worth Rs 2,342.35 crore.

The IPO will include a fresh issue of equity shares worth Rs 1,100 crore, while existing investors and co-founders plan to sell shares worth Rs 1,242.35 crore through an offer for sale (OFS). The company had earlier submitted its draft IPO documents in May 2025 through SEBI’s confidential filing route.

Founded by Saahil Goel, Gautam Kapoor, and Vishesh Khurana, Shiprocket operates as a direct-to-consumer (D2C) technology enablement platform. It helps online sellers streamline logistics using courier integrations, real-time shipment tracking, and automated fulfillment tools.

According to the updated DRHP, the OFS will be led by Lightrock, which plans to sell shares worth Rs 258.49 crore. Other major sellers include Arvind Ltd (Rs 161 crore), Tribe Capital (Rs 120 crore), March Capital (Rs 95 crore), and Bertelsmann India Investments (Rs 85.43 crore). Additional participants include 500 Startups, Agility Global, AFOS Group, Moore Strategic Ventures, and boAt co-founder Sameer Mehta. Eternal, formerly Zomato, will not take part in the OFS.

Co-founders Saahil Goel and Gautam Kapoor will each sell shares worth Rs 144 crore, while Vishesh Khurana will offload Rs 36.93 crore worth of shares.

Shiprocket plans to use Rs 505 crore from the fresh issue to scale its platform. This includes Rs 294 crore for marketing and Rs 211 crore for strengthening technology infrastructure. Another Rs 210 crore will go toward repaying debt, while the remaining funds will support acquisitions and general corporate needs.

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The IPO will be managed by Axis Capital, BofA Securities, JM Financial, and Kotak, with KFin Technologies as registrar.

Financially, Shiprocket reported a 15% year-on-year rise in operating revenue to Rs 942.6 crore in the first half of FY26 and reduced losses by nearly 10%. In FY25, revenue grew to Rs 1,632 crore, and the company turned EBITDA cash positive.