Logistics unicorn Shiprocket gets SEBI nod for Rs 2,500 Cr IPO
Ecommerce enablement platform Shiprocket has received SEBI nod for its Rs 2,500-crore IPO, filed under the confidential route in May earlier this year.
Ecommerce enablement platform Shiprocket has received the Securities and Exchange Board of India's approval for its Rs 2,500-crore initial public offering, sources confirmed to YourStory.
The company plans to file its updated draft red herring prospectus in the coming weeks.
The development was first reported by Economic Times, which added that nearly half of the IPO size is expected to be a fresh issue.
The company did not immediately respond to queries shared by YourStory.
According to the Economic Times report citing sources, Shiprocket's large backers like Zomato and Temasek are sitting out of the IPO and will not offload shares in the offer for sale component. Meanwhile, founders and early investors are expected to sell their stakes partially.
In the run-up to its IPO, Shiprocket has improved its profitability by reporting a full-year positive cash EBITDA for the first time in FY25, as core business EBITDA more than doubled to Rs 157 crore.
The company’s revenue increased 24% year-over-year to Rs 1,632 crore, driven by its core shipping business and rapid expansion across new verticals.
During the same period, its net losses also narrowed significantly to Rs 74 crore, down from Rs 595 crore in FY24, with current losses largely attributed to ESOP-related non-cash expenses of Rs 91 crore.
The Delhi-based logistics unicorn is also quietly scaling up its plans in the quick commerce space with a sharp focus on enabling hyperlocal sellers, YourStory had reported in July earlier this year.
Still in the MVP (minimum viable product) phase, Shiprocket’s new service is processing 300,000-400,000 quick commerce deliveries a month across six cities, including Delhi, Bengaluru, and Mumbai, through a network of last-mile delivery partners.
Edited by Kanishk Singh