Shiprocket will open its initial public offering on 12 August with a price band of Rs 92–97 per share, aiming to raise up to Rs 1,617.49 crore through a combination of fresh issue and offer for sale. The subscription window closes on 14 August, with shares proposed to list on both the NSE and BSE.
Offer size and structure
The company has reduced the issue size by nearly 31% from the Rs 2,342.35 crore indicated in its updated DRHP filed in December 2025. The current offer totals Rs 1,617.49 crore, comprising a fresh issue of up to Rs 885.5 crore and an offer for sale (OFS) of up to Rs 731.99 crore.
Price band, key dates and valuation
Anchor investor bidding is scheduled for 11 August. At the top end of the price band, Shiprocket’s post-offer market capitalisation is estimated at around Rs 7,057.5 crore. The National Stock Exchange will be the designated stock exchange for the issue, with a concurrent listing on the Bombay Stock Exchange.
Offer for sale: major shareholders offloading
LR India Fund I is the largest seller in the OFS, targeting up to Rs 271.70 crore. Tribe Capital III LLC – Series 1 intends to sell up to Rs 120 crore, and MCP3 SPV LLC up to Rs 55.53 crore. Other selling shareholders include Moore Strategic Ventures, Agility International Investment and 500 Startups III.
Among the promoters, Gautam Kapoor and Saahil Goel will each sell shares worth up to Rs 61 crore, while Vishesh Khurana plans to sell up to Rs 20 crore. Pre-IPO, Bertelsmann Nederland holds a 21.32% stake, while Eternal Limited (formerly Zomato) owns 6.85%.
Business profile and financials
Incorporated as Bigfoot Retail Solutions in September 2011, the company introduced the Shiprocket brand in 2017 as it expanded into e-commerce shipping. It now operates an end-to-end, API-led, merchant-first platform spanning logistics, checkout, payments, fulfilment and cross-border solutions, supported by 13 leased fulfilment centres across 10 cities.
Revenue from operations grew about 24% to Rs 2,024.14 crore in FY26 from Rs 1,632.01 crore in the previous year, while the restated consolidated loss widened to Rs 79.25 crore. The company serves a broad base of small and mid-sized online sellers as well as direct-to-consumer brands, positioning itself within India’s rapidly formalising e-commerce logistics market.
Use of proceeds
Net proceeds from the fresh issue are earmarked for platform development, marketing and technology investments. The company also plans to repay certain borrowings and pursue inorganic growth opportunities, alongside general corporate purposes. Proceeds from the OFS will accrue to the selling shareholders.
Advisers and next steps
Axis Capital, BofA Securities India, JM Financial and Kotak Mahindra Capital are the book-running lead managers, with KFin Technologies as registrar. Market participants will track subscription across institutional and retail categories ahead of the listing on the NSE and BSE.
