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HomeIPOShiprocket Limited

About Shiprocket Limited

Shiprocket is an end-to-end, technology-enabled platform for Indian MSMEs as well as large retail businesses. Shiprocket allows Indian MSMEs as well as retail businesses to operate online as well as offline by streamlining shipping options. According to the Redseer report, Shiprocket is the leading new-age end-to-end Indian e-commerce enablement platform in terms of sales in FY25. Shiprocket was initially founded as a shipping platform, and its primary business is its domestic shipping service and shipping apps, which help provide services such as instant pickup, order tracking, etc. However, over a period of time, Shiprocket has moved beyond the shipping segment. They now provide various services that improve the overall experience of the merchants as well as their customers. Some of the services provided by Shiprocket include fulfillment centers, cargo services, logistics services, omnichannel commerce solutions through Shiprocket Omuni, international shipping solutions with customs, advertising services, payment solutions, business loans, and so on. Shiprocket mainly derives its revenues through the usage-based model of charging its customers, whereby customers pay based on the volume of use of the Shiprocket platform.

Checklist Quality Analysis

Revenue Growth

Live IPOs

National Stock Exchange of India logo

National Stock Exchange of India

Mainboard
Open  Close17th Sep 2026 - 21st Sep 2026
Issue Size22561.57 Cr
Min. Qty8 Shares
Issue Price₹ 1700.00
Live IPO
Antala Industries logo

Antala Industries

SME
Open  Close29th Oct 2026 - 5th Nov 2026
Issue Size22.98 Cr
Min. Qty2000 Shares
Issue Price₹ 62.00
Live IPO
Companies NameOpen - CloseIssue SizeMin. QtyIssue PriceApply
National Stock Exchange of India logo

National Stock Exchange of India

Mainboard
17th Sep 2026 - 21st Sep 202622561.57 Cr8 Shares₹ 1700.00
Antala Industries logo

Antala Industries

SME
29th Oct 2026 - 5th Nov 202622.98 Cr2000 Shares₹ 62.00
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Shiprocket Limited

Shiprocket Limited

Open Date

Aug 12, 2026

Close Date

Aug 14, 2026

listed

Min Investment

₹14,938

Lot Size

154 Shares

Issue Size

₹1617.48 Cr

Price Range

₹92 - ₹92

Listing Date

Aug 19, 2026

IPO Doc

RHP PDF

Company Valuation

Earning Expansion

The investment checklist helps you understand a company's financial health at a glance and identify quality investment opportunities easily.

₹35(+36.08%)GMP
36.08%Prediction Listing Gain

Grey Market Premium (GMP) Trend

Shiprocket Limited IPO - Issue Objectives

₹159.80 crore will fund technology infrastructure for emerging and core businesses. ₹205.80 crore will fund marketing initiatives for emerging and core businesses. The company will use ₹210 crore for repayment of certain borrowings availed of by it. Some gross proceeds will fund unidentified acquisitions and corporate purposes.

Capital expenditure

18.1%

Marketing expenses

23.2%

Repayment of borrowings

23.7%

Unidentified acquisitions and general corporate purposes

35.1%

1

Capital expenditure

₹159.80 crore will fund technology infrastructure for emerging and core businesses.

18.10%
2

Marketing expenses

₹205.80 crore will fund marketing initiatives for emerging and core businesses.

23.20%
3

Repayment of borrowings

The company will use ₹210 crore for repayment of certain borrowings availed of by it.

23.70%
4

Unidentified acquisitions and general corporate purposes

Some gross proceeds will fund unidentified acquisitions and corporate purposes.

35.10%

IPO Subscription Status

QIB
125.20x
NII
92.58x
Individual
48.29x
Total
102.27x

Times subscribed by category (bars capped at 10x for readability). Dashed line marks 1.0x (fully subscribed).

Financials of Shiprocket Limited

In Cr.

Key Performance Indicator30-Sep-25 (In Cr.)31-Mar-25 (In Cr.)31-Mar-24 (In Cr.)31-Mar-23 (In Cr.)
Revenue970.791674.821357.831126.90
EBITDA-9.39-17.16-495.89-307.80
Expenses
Profit After Tax-38.32-74.45-595.18-359.31
Assets2393.352308.622051.222386.78
Net Worth1507.671491.231284.161699.87
Reserves1447.531431.091227.931642.88
Borrowing233.79244.67213.28171.81

About Strength & Risks

Why this IPO looks interesting

Key positives investors may want to consider before applying.

01

Market leadership with network effect

The company has the largest horizontal e-commerce enabler network in India with 214,769 merchants connecting to 15.5 crore+ consumers with an RTO prediction of 83.01% accuracy based on 73 crore+ transactions of data.

02

Low-cost, digital acquisition

96.73% self-serve onboarding and 42.98% organic registrations led to a 31% reduction in per-merchant cost of customer acquisition from ₹4,101 in FY24 to ₹2,829 in FY26, with marketing expenditure at <2% of core business revenue.

03

Offer multiple solutions

The company offers a single platform with multiple commerce solutions including shipping, fulfilment, checkout, financing and marketing.

04

What investors should watch closely

Risk factors and possible pressure points around the offer.

01

Consistent losses

The company has reported a loss of ₹79.25 crore, ₹74.45 crore and ₹595.18 crore for FY26, FY25 and FY24.

02

Pending legal proceedings

The company has 2 criminal and 7 tax litigations pending & its subsidiaries have 1 criminal and 3 tax litigations pending, amounting to a total quantified exposure of ~₹7.52 crore. Directors of the company are facing 4 criminal cases, including an FIR filed against the MD, which he has challenged to quash, but no penalties have been imposed on the company.

03

Contact Details

Shiprocket Limited

416, Phase III, Udyog Vihar, Sector 20, Gurgaon, Haryana, 122008

+919711623070
support@shiprocket.in
https://www.shiprocket.in/

Registrar Contact Details

Kfin Technologies Ltd.

04067162222
shiprocket.ipo@kfintech.com
https://ipostatus.kfintech.com/

Shiprocket Limited IPO - FAQs

Shiprocket Limited IPO is a Mainboard IPO. The issue is priced at 92-₹97. The minimum order quantity is 154 Shares. The IPO opens on 12 Aug, and closes on 14 Aug. Kfin Technologies Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.









IPO Timeline

  • Pre Apply2026-08-11
  • Bidding Starts2026-08-12
  • Bidding Ends2026-08-14
  • Allotment Finalisation2026-08-17
  • Release of Funds2026-08-18
  • Demat Transfer2026-08-18
  • Listing2026-08-19

Diversified and low concentration merchant base

Top-20 merchants contribute just 17.6% of FY26 revenue vs prior years. Diversification in categories (Personal care 31.1%, Apparel 21.6%). Marquee brands include Mamaearth, Boat and Levi’s.

05

High Platform Engagement

The platform receives approximately 2.34 million organic visitors each month. FY26 saw an impressive 50.8% of merchants receiving their first order within 24 hours of signing up for the company’s services and a First Call Resolution Rate of 51.15%.

Increasing reliance on newer emerging business units

Funds received via IPO are to be utilised by the company for the purpose of the emerging business unit, which has increased its contribution in terms of revenues from 17.58% to 26.62%.

04

Non-exclusive partnership for logistics

The 5 largest carriers account for 84.50% of the shipments without any exclusivity, which leads to service disruption risks.

05

Compliance risk

There are risks regarding new DPDP Act compliance requirements and past control lapses in audit trails.