Shiprocket is India’s fast-growing logistics tech startup. The logistics giant is gearing up for a public debut with an IPO estimated between INR 2,000-2,500 crore. The company has officially transitioned to a public entity and enlisted key merchant bankers to steer the offering.
Shiprocket IPO- Structure and Banker Lineup
The IPO will combine fresh equity issuance and an offer for sale (OFS), with the OFS expected to be the dominant component. To facilitate the process, Axis Capital, Kotak Mahindra Capital, JM Financial, and Bank of America (BofA) Securities have been brought on board. Proceeds will be used for business expansion, infrastructure, and market positioning in India’s competitive logistics sector.
Shiprocket IPO – Transition Into a Public Company
The company is now ‘Shiprocket Limited’ after successfully transitioning from a private entity to a limited company, overcoming a significant hurdle in the IPO process. Shiprocket is following the path of IPO listing, like other Indian tech startups such as Lenskart, Zetwerk, PhysicsWallah, Ather Energy, and many more.
Financial Performance: Growth vs. Profitability
Shiprocket’s revenue is rising, but profitability is still a challenge for the company. In FY24, the company posted a 21% revenue increase to INR 1,316 crore, yet net losses widened to INR 595 crore, up from INR 341 crore in FY23. While the business scales rapidly, operational costs remain a challenge. Investors will be watching how Shiprocket navigates cost controls while maintaining momentum.
Funding History and Valuation
It would certainly be appropriate to grant Shiprocket unicorn status, as the company has secured several major fundings in recent years. The company’s series E funding was completed in December 2024. In this funding round, Shiprocket has raised INR 219 crore (~USD 26 million) from KDT Ventures, Tribe Capital, MUFG Bank, SAI Global, and Huddle Ventures. As for the current valuation, the company has been valued at USD 1.21 billion (INR 10,470 crore).
From the beginning, Shiprocket has raised a total funding of USD 320 million which is equivalent to approximately INR 2,770 crore. Temasek, Zomato, PayPal, Lightrock, March Capital, MUFG Bank, Bertelsmann Nederland B.V., Info Edge, and McKinsey are some prominent investors in the company.
Market Reach and Expansion Plans
Saahil Goel, Gautam Kapoor, Vishesh Khurana, and Akshay Gulati founded Shiprocket in 2012. The company has partnerships with more than 25 courier services which include some well-known names such as Delhivery, FedEx, Xpressbees, and DTDC. The company is providing logistics services to 25,000 PIN codes and reached a milestone of 7 crore deliveries in FY24.
When we talk about international deliveries, the company has expanded to over 220 countries. It opens a new path for Indian sellers to gain their reach in the global markets.
In August 2024, Shiprocket launched Zop – a marketplace that features 200-300 direct-to-customer brands from various industries. The company is now focusing on cross-border shipping, checkout optimization, and fulfillment services.
What’s Next?
As the Shiprocket IPO coming soon, the company stands at a critical juncture. Strong market positioning, ambitious expansion, and top-tier banking advisors boost its prospects. Yet, challenges remain. Investors will weigh its growth potential against profitability concerns. If demand meets expectations, this IPO could be one of India’s most anticipated logistics and e-commerce listings.
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