MUMBAI: E-commerce enablement platform Shiprocket has filed for a Rs 2,342-crore initial public offering (IPO) with the regulator Securities and Exchange Board of India (SEBI).
The issue aggregating up to Rs 2,342.3 crore comprises a fresh issue of Rs 1,100 crore and an offer-for-sale of up to Rs 1,242.3 crore by the selling shareholders. The face value of each share is Rs 10, the company said Saturday.
Shiprocket is an end-to-end, merchant-first and application programming interface-led technology platform designed to enable e-commerce transactions for small businesses and digital retailers. The platform simplifies e-commerce for merchants who sell directly to end consumers through their own websites, apps or social media channels, through its various lines of business aimed at simplifying logistics, checkout, payments, fulfilment, and cross-border trade, enabling merchants to sell online and offline efficiently and at scale.
According to a Redseer report, Shiprocket is the largest new-age end-to-end horizontal e-commerce enablement platform, in terms of revenue from operations in fiscal 2025.
The company proposes to utilise the proceeds from the issue to fund investments in the growth of its platforms for marketing, in technology infrastructure and repayment/prepayment of some borrowings among others.
Its business is divided into two main segments: core business and emerging business. Its core business includes domestic shipping platform and shipping apps, which provide managed, end-to-end shipping solutions and the emerging business focuses on new market creation and includes products such as cargo and fulfilment business, cross-border platform, ads and marketing solutions, and others, comprising capital solutions, hyperlocal deliveries and other merchant solutions.