Shiprocket Files Updated IPO Papers with SEBI for INR 2342 Cr The offering will include a fresh issue of equity shares worth INR 1,100 crore, while existing shareholders and co-founders will sell shares worth INR 1,242.35 crore through an offer for sale.
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Shiprocket, a logistics and supply chain platform, has filed an updated draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for its initial public offering (IPO) of INR 2,342.35 crore.
The offering will include a fresh issue of equity shares worth INR 1,100 crore, while existing shareholders and co-founders will sell shares worth INR 1,242.35 crore through an offer for sale.
The company was founded by Saahil Goel, Gautam Kapoor, and Vishesh Khurana. Shiprocket is a direct-to-consumer technology enablement platform that helps businesses manage shipping through courier integrations, real-time tracking, and automated solutions.
According to the updated draft prospectus, the offer for sale will be led by Lightrock, which plans to sell shares worth INR 258.49 crore. Other major participants include Arvind Ltd and Tribe Capital, offloading shares worth INR 161 crore and INR 120 crore respectively. March Capital and Bertelsmann India Investments will also sell shares worth INR 95 crore and INR 85.43 crore.
Additional participants in the offer for sale include 500 Startups, Agility Global, AFOS Group, Moore Strategic Ventures, and Sameer Mehta, co-founder of boAt. Notably, Eternal, formerly known as Zomato, will not participate in the share sale.
Co-founders Gautam Kapoor and Saahil Goel will each sell shares worth INR 144 crore, while Vishesh Khurana will sell shares worth INR 36.93 crore.
Shiprocket plans to use INR 505 crore from the IPO proceeds to expand its platforms. This includes INR 294 crore for marketing and Rs 211 crore for technology infrastructure. The company will also allocate INR 210 crore for debt repayment, while the remaining funds will support inorganic growth through acquisitions and general corporate purposes.
The IPO will be managed by Axis Capital, BofA Securities, JM Financial, and Kotak, with KFin Technologies acting as the registrar.
As of the filing, Bertelsmann India Investments is Shiprocket's largest shareholder with a 21.32 percent stake, followed by Tribe Capital at 14.14 percent. Eternal and Temasek hold 6.85 percent and 5.29 percent stakes.
Co-founders Saahil Goel and Gautam Kapoor each own 4.84 percent, while the employee stock option pool accounts for 8.48 percent of the shareholding.
