Shiprocket, a leading Indian logistics-technology platform, prepares for its highly anticipated public listing, aiming to capitalise on India’s booming e-commerce sector and provide investors exposure to its rapidly expanding software-driven logistics services.
Shiprocket is preparing for a market debut that would give public investors a closer look at one of India’s better-known logistics-technology platforms. Founded in 2011 and based in Gurugram, the company has built its business around helping merchants manage shipping, fulfilment and related commerce functions through a single operating layer, rather than owning a large fleet of logistics assets itself.
According to the company’s offer documents, Shiprocket has expanded from domestic parcel movement into warehousing, order fulfilment, cross-border shipping, omnichannel commerce tools and checkout and payment integration. Its model is largely transaction-linked, so revenue rises and falls with the volume flowing through its platform. The company says this approach has helped it become India’s largest new-age horizontal e-commerce enablement business by revenue from operations in fiscal 2026.
The IPO terms have been refined over several filings. While some market trackers had earlier indicated a larger fundraising target, the updated draft red herring prospectus filed with the Securities and Exchange Board of India on December 12, 2025 sets the issue at about ₹1,617.48 crore. That includes a fresh issue of ₹885.50 crore and an offer for sale of ₹731.98 crore. The price band is ₹92 to ₹97 per share, with a minimum application size of 154 shares and a minimum retail outlay of about ₹14,938 at the top end. Bidding opens on August 12 and closes on August 14, with listing tentatively set for August 19 on the BSE and NSE.
Financially, the company remains in expansion mode. For the year ended March 31, 2026, Shiprocket reported total income of about ₹2,077.42 crore, up roughly 24% from the previous year, while posting a loss after tax of around ₹79.25 crore and negative EBITDA of ₹16.56 crore. Merchant solutions accounted for more than 99% of operating revenue, underscoring how closely the business is tied to its core platform services. The company also said it had reached more than 155 million end customers across over 19,000 pin codes since October 2016 and served 214,769 active merchants in fiscal 2026.
The public offering comes as India’s IPO market is set for a busy stretch, with several companies moving towards listings at the same time. Shiprocket’s backers include Bertelsmann, Tribe Capital, Temasek and Eternal, and the issue will be run by Axis Capital, with KFin Technologies as registrar. The company’s pitch is straightforward: it wants to use the public market to support the next phase of growth in a business built on software, logistics coordination and merchant services.
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