Zomato-backed Shiprocket receives SEBI approval for ₹2,400 crore IPO

Zomato and Temasek-backed logistics platform Shiprocket has received approval from the Securities and Exchange Board of India (SEBI) to launch its Rs 2,500 crore initial public offering (IPO).

Shiprocket gets nod from SEBI

The logistics company, which enables direct-to-consumer (D2C) brands and small sellers to operate online, filed confidentially with SEBI in May and is expected to submit its updated draft red herring prospectus in the coming weeks.

As many as seven companies, including Meesho and Shiprocket, have secured the approval to raise funds through initial public offerings (IPO), an update with the markets regulator showed on Monday.

Others that received regulatory approval are Rajputana Stainless, Skyways Air Services, German Green Steel and Power, Allied Engineering Works, and Manika Plastech.

According to an ET report, nearly half of the total issues of Shiprocket will comprise a fresh capital raise.

“Some of Shiprocket’s larger backers including Temasek and Zomato are sitting out of the IPO and not selling shares. The company's founders and a few early investors will be selling stakes partially,” a person familiar with the matter was quoted as saying by ET, who requested anonymity as details remain private.

Also read: PM Modi to launch ₹1 Lakh Crore Research Development & Innovation Fund on November 3rd to boost private AI and deep-tech innovation in India (startuppedia.in)

About Shiprocket

Shiprocket is India’s largest eCommerce enablement platform for providing digital retailers with an end-to-end customer experience.

Founded in 2017 by Saahil Goel, Vishesh Khurana, Akshay Gulati, and Gautam Kapoor, Shiprocket works with over 17 courier partners, including Delhivery, FedEx, Xpressbees, and DTDC, serving D2C brands and online sellers across India and 200+ international markets.

For the financial year 2025, the Delhi-based company reported a 24% rise in operating revenue to Rs 1,632 crore, while reducing its net loss to Rs 74 crore from Rs 595 crore in the previous fiscal.

Shiprocket attributed most of its losses to employee stock ownership plan (ESOP) expenses of Rs 91 crore, ET reported.

The firm's emerging line of businesses includes cross-border shipping, marketing services, and checkout and fulfilment operations.

Investment banks Axis Capital, JM Financial, Kotak Mahindra Capital,  and Bank of America have been appointed as lead managers for the IPO.

Also read: Perplexity AI to reveal Indian politicians' stock holdings soon, says CEO Aravind Shrinivas (startuppedia.in)