Temasek, Eternal-backed Shiprocket files updated IPO papers with SEBI, eyes ₹2,342 cr issue

Temasek-backed Shiprocket has filed updated draft papers with markets regulator SEBI, advancing its plans to tap the capital markets with a ₹2,342 crore initial public offering.

As per the updated draft

red herring prospectus (UDRHP), the IPO will comprise a fresh issue of equity shares aggregating up to ₹1,100 crore and an offer for sale (OFS) of ₹1,242.3 crore by existing shareholders. Selling investors include Lightrock, Tribe Capital, Bertelsmann, Arvind Ltd, Gautam Kapoor, Saahil Goel and Vishesh Khurana.

The company said proceeds from the issue will be used to accelerate growth across Shiprocket’s platforms, with a focus on marketing spends and strengthening technology infrastructure across both its core and emerging businesses.

Part of the funds will also be utilised towards repayment or prepayment of certain borrowings, along with interest costs. In addition, Shiprocket plans to allocate capital for inorganic expansion through potential acquisitions and for general corporate purposes.

Shiprocket may also consider a pre-IPO placement of up to ₹220 crore, which, if executed, would reduce the size of the fresh issue accordingly.

Backed by marquee investors such as Temasek and Eternal (formerly Zomato), Shiprocket has evolved from a logistics services provider into a full-stack e-commerce enablement platform catering to direct-to-consumer (D2C) brands and MSMEs.

The company operates an asset-light, technology-driven model across two segments—Core Business and Emerging Business—spanning domestic shipping, fulfilment, cross-border logistics, capital solutions, marketing services and hyperlocal deliveries.

Axis Capital, BofA Securities India, JM Financial and Kotak Mahindra Capital Company are the book-running lead managers to the public issue.