Shiprocket IPO Advances as Company Secures BSE In-Principle Approval

Shiprocket Limited has taken another key step toward its proposed initial public offering after receiving in-principle approval from BSE, strengthening its path to the capital markets. The approval comes amid ongoing preparations for a sizeable public issue aimed at supporting the company’s next phase of growth.

BSE Approval and Filing Details​

Shiprocket Limited filed its IPO application with BSE on December 12, 2025. The exchange granted in-principle approval on January 14, 2026, marking an important regulatory clearance in the listing process. The proposed issue is structured as a book-building IPO.

The public issue is being managed by Axis Capital Limited, BofA Securities India Limited, JM Financial Limited and Kotak Mahindra Capital Company Limited, who are acting as the book-running lead managers.

IPO Size and Structure​

The company has filed updated draft papers for its IPO to raise a little over Rs 2,342 crore. The issue comprises a fresh issue of equity shares aggregating up to Rs 1,100 crore and an offer for sale of Rs 1,242.3 crore by existing shareholders.

As part of the offer for sale, early investors and promoters including Lightrock, Tribe Capital, Bertelsmann, Arvind Ltd, Gautam Kapoor, Saahil Goel and Vishesh Khurana will be diluting their stakes. Shiprocket may also consider a pre-IPO placement of up to Rs 220 crore, which would lead to a corresponding reduction in the size of the fresh issue if undertaken.

Utilisation of IPO Proceeds​

According to the draft documents, the company plans to deploy the IPO proceeds across multiple priorities. These include investments in marketing initiatives to accelerate platform adoption, strengthening technology infrastructure across both core and emerging businesses, and repayment or prepayment of certain borrowings along with related interest.

A portion of the funds is also earmarked for inorganic growth through potential acquisitions, while the remainder will be used for general corporate purposes.

Business Overview​

Backed by investors such as Temasek and Zomato, Shiprocket has evolved from a shipping services provider into a full-stack e-commerce enablement platform catering to direct-to-consumer brands and MSMEs.

The company operates through two primary segments. Its core business includes the domestic shipping platform and shipping applications that offer end-to-end logistics solutions in India, covering multi-modal transport, AI-driven logistics allocation, order management and tracking tools.

The emerging business segment focuses on newer offerings such as cargo and fulfilment services, cross-border shipping, advertising and marketing solutions, capital solutions and hyperlocal delivery services. These solutions are designed to help merchants expand reach and scale operations efficiently.

Shiprocket follows an asset-light business model, with a scalable technology platform at the centre of its operations, supported by a wide ecosystem of partners.

IPO Snapshot​

• Company: Shiprocket Limited
• Type of Issue: Book Building
• Date of Filing with BSE: December 12, 2025
• Date of In-Principle Approval: January 14, 2026
• Proposed IPO Size: Over Rs 2,342 crore
• Book-Running Lead Managers:
  • Axis Capital Limited
  • BofA Securities India Limited
  • JM Financial Limited
  • Kotak Mahindra Capital Company Limited

With regulatory approvals progressing and updated draft papers in place, Shiprocket’s IPO preparations are moving steadily toward the next stage, positioning the company for a public market debut aligned with its expansion plans.