Shiprocket Eyes ₹2,500 Crore IPO Amid Revenue Growth and Rising Losses

May 19, 2025

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Shiprocket, a leading logistics and e-commerce enablement platform, is reportedly preparing to file a confidential draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for its initial public offering (IPO).

The company is expected to raise between ₹2,000 crore and ₹2,500 crore, with the proceeds likely to be used for business expansion, technology infrastructure, and potential acquisitions.

Financial Performance: Revenue Growth Amid Widening Losses

In FY24, Shiprocket reported a 21% increase in revenue, reaching ₹1,316 crore, driven by a surge in demand for e-commerce logistics and cross-border commerce. Despite the revenue boost, the company posted a net loss of ₹595 crore, largely attributed to restructuring costs and employee stock option plan (ESOP) expenses.

The financial strain underscores the challenges faced by the logistics sector in balancing expansion with profitability.

Market Position and Strategic Focus

Shiprocket, backed by investors such as Zomato and Temasek, has been strategically expanding its market presence, with a focus on cross-border commerce and end-to-end logistics solutions for direct-to-consumer (D2C) brands.

The company aims to leverage the IPO proceeds to strengthen its technological infrastructure, enhance last-mile delivery capabilities, and explore strategic acquisitions in the logistics space.

Shiprocket’s IPO – A Strategic Move Amid Industry Competition

With a target fundraising of up to ₹2,500 crore, Shiprocket is positioning itself to capitalize on the growing demand for e-commerce logistics solutions.

However, the widening net loss raises questions about the company’s path to profitability, even as it seeks to solidify its market position in India’s logistics sector.