Shiprocket’s IPO Launchpad: Ready to Deliver Rs 2,500 Crore

Temasek-backed Shiprocket, a top eCommerce enablement platform, is preparing to submit confidential draft documents with SEBI for an initial public offering (IPO) with the objective of raising up to Rs 2,500 crore. The IPO will be done through the confidential pre-filing route so that Shiprocket can postpone public disclosure of detailed financials and business details until advanced stages of the regulatory process.

The public issue is likely to include both a new issue of shares and an offer for sale by existing investors. Proceeds of the fresh issue will likely be invested in product development, strategic acquisitions, logistics and warehousing infrastructure expansion, and Shiprocket's technology stack enhancement.

Started in 2012 and having its headquarters in Gurugram, Shiprocket has come a long way from being a shipping partner to a full-stack eCommerce enabler, empowering over 1.5 lakh sellers and enabling over 490 million eCommerce transactions per annum. The logistics network of the company covers 19,000 pin codes in India and extends to more than 160 countries, catering to over 120 million end consumers. Top D2C brands such as Mamaearth, Giva, and mCaffeine depend upon Shiprocket's solutions for operational efficiency and wider market reach.

Axis Capital, BofA Securities, JM Financial, and Kotak Mahindra Capital Company have been mandated as book-running lead managers for the IPO. 

Sources: The Economic Times, Business Standard, Rediff Money