Shiprocket’s initial public offering approaches its final phase with demand hitting new highs, reflecting strong investor confidence in India’s logistics and e-commerce sector despite ongoing losses.
Shiprocket’s initial public offering entered its final stretch on Thursday with demand surging sharply, strengthening the case for one of India’s best-known logistics technology listings. The e-commerce enablement company, which opened its issue on 12 August and closes it on 14 August, is aiming to list on the BSE and NSE on 19 August after setting a price band of ₹92 to ₹97 a share for a deal valued at roughly ₹1,617.5 crore at the top end.
By midday on the last bidding day, subscription had climbed to 18.12 times overall, according to Economic Times data. Non-institutional investors had bid for 35 times their allotted shares, retail buyers for 24.66 times and qualified institutional buyers for 7.26 times. That marked a steep acceleration from the end of the second day, when the issue was 3.16 times covered overall.
The offer combines a fresh issue of shares worth about ₹885.5 crore with an offer for sale of roughly ₹732 crore by existing shareholders. The company intends to use the primary proceeds for technology spending, marketing, expansion, debt reduction and possible acquisitions. Shiprocket also raised ₹727.41 crore from anchor investors before the public offering opened, with Economic Times reporting that about two-thirds of that allocation went to 13 domestic mutual funds across 31 schemes.
Shiprocket has grown far beyond a simple shipping aggregator. Its platform links merchants with logistics partners and also offers fulfilment, checkout, payments, cross-border shipping, marketing, omnichannel commerce and hyperlocal delivery tools. The company works with carriers including Delhivery, FedEx, Aramex, Xpressbees, DTDC and Shadowfax, giving sellers a single system to manage multiple delivery options. As of the six months ended 30 September 2025, Shiprocket said it had more than 145,000 active merchants and had processed more than 97 million transactions.
The financial record shows fast growth but not yet full profitability. Revenue from operations rose about 24 per cent in the year to March 2026 to ₹2,024.1 crore from ₹1,632 crore a year earlier, while consolidated net loss widened slightly to ₹79.2 crore from ₹74.4 crore. EBITDA losses, however, narrowed to ₹16.6 crore from ₹17.2 crore. A research note from Sacra said the company’s asset-light model and take-rate expansion help distinguish it from traditional logistics operators, though the business still faces the challenge of converting scale into durable earnings.
Investor appetite has also shown up in the grey market, where Shiprocket shares were quoted at a premium of about ₹37 over the upper end of the price band early on the final day, suggesting a possible gain of roughly 38%. That signal is unofficial and can change quickly, but it reflects optimism around the company’s position in India’s e-commerce infrastructure chain. A CNBC TV18 segment on the offering also highlighted the regulatory approval for Shiprocket’s proposed ₹2,400 crore IPO and the company’s push into emerging business lines. The final subscription tally will now be watched closely for clues about how public investors value a growth business that remains loss-making at the bottom line.
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