Shiprocket Ltd
Complete IPO details, including price band, financials, subscription status, and key insights.
Participate in the Shiprocket Ltd IPO with full transparency. Review issue details, company fundamentals, and financial performance, and apply securely through Alice Blue.
IPO Snapshot
Key metrics and details at a glance.
Price Band
₹97
Per ShareLot Size
154 Shares
Minimum Investment
₹14,938
Issue Size
₹1,617.49 Cr
Face Value
₹10
Per ShareIPO Type
Book Building
Retail Quota
10%
QIB Quota
75%
NII Quota
15%
IPO Timeline
Important dates for your applying strategy.
Subscription Status
Live demand across investor categories.
Track real-time subscription levels:
*Real-time data subject to exchange updates
Shiprocket Ltd
Business model, operations, and market positioning.
Issue Type
Book Building
ISIN
INE0FOO01011
About the Company
Shiprocket is an end to end, new-age, merchant-first, and application programming interfaces-led technology platform designed to enable e-commerce transactions for India's MSMEs and digital retailers. Our Shiprocket platform simplifies e-commerce for Merchants who sell directly to end consumers through their own websites, apps or social media channels, through our various lines of business aimed at simplifying logistics, checkout, payments, fulfilment, and cross-border trade, enabling Merchants to sell online and offline efficiently and at scale. We operate on an asset-light business model with a scalable technology platform at the core of our business, supplemented by our extensive network of ecosystem partners.
Industry Overview
According to the Redseer Report, the business-to-consumer market opportunity in India is evolving across both domestic retail and cross-border merchandise retail, driven by a mix of offline and online channels, presenting a large and growing opportunity for new age end-to-end horizontal e-commerce enablement platforms offering key services to Merchants. Online commerce, offline commerce and cross-border merchandise retail together represent a market opportunity of Rs.7.7-8.4 trillion (US$92-101 billion) gross merchandise value for new age end-to-end horizontal e-commerce enablement platforms in CY 2024. Among them, Direct Commerce generated a gross merchandise value of Rs.581-747 (US$7-9 billion) billion in CY 2024, is expected to grow at a CAGR of 20-25% until CY 2029, and accounts for 10-13% of online retail in CY 2024. As India's Direct Commerce landscape matures, the need for scalable, flexible, and cost-effective commerce enablement solutions will continue to grow.
Company History
Our Company was incorporated as `Bigfoot Retail Solutions Private Limited' at New Delhi as a private limited company under the Companies Act, 1956, pursuant to a certificate of incorporation dated September 28, 2011, issued by the Registrar of Companies, Delhi and Haryana ("RoC"). Subsequently, the name of our Company was changed to `Shiprocket Private Limited' pursuant to a Shareholder's resolution dated June 12, 2024, and a fresh certificate of incorporation dated July 19, 2024 was issued by the RoC. Our Company was converted to a public limited company and the name of our Company was changed to `Shiprocket Limited' pursuant to a Shareholder's resolution dated January 18, 2025 and a fresh certificate of incorporation dated February 18, 2025 was issued by the RoC.
Growth Strategy
- Retain and grow our Merchant base.
- Continuously expand our product offerings and drive cross-sales.
- Invest in our Emerging Business to unlock growth for our Merchants' businesses and expand our TAM.
- Strengthen our ecosystem by growing our ecosystem network as well as through inorganic growth
- Continue investing in data and AI and launching intelligent products.
Financial Performance
Revenue, profit after tax and total assets across the last 3 reported financial years.
Revenue
Amount in ₹ crore
Profit After Tax (PAT)
Amount in ₹ crore
Total Assets
Amount in ₹ crore
Figures in ₹ crore, on a consolidated basis, as reported for FY24 to FY26.
Objects of the Issue
How the company plans to utilize IPO proceeds.
Use of Proceeds
The funds raised through this IPO will be used for:
Initial public offering of 166,761,566 equity shares of face value of Rs. 10 each ("Equity Shares") of Shiprocket Limited ("the Company" or "the Company") for cash at a price of Rs. 97 per equity share (including a share premium of Rs. 87 per equity share) ("Offer Price") aggregating to Rs. 1617.49 Crores comprising a fresh issue of 91,299,203 equity shares of face value of Rs. 10 each aggregating to Rs. 885.5 Crores by the company ("Fresh Issue") and an offer for sale of 75,462,363 equity shares of face value of Rs. 10 each aggregating to Rs. 731.99 Crores ("Offered Shares") by the selling shareholders ("offer for sale", and together with the fresh issue, the "Offer"). The company, in consultation with the brlms, may consider a further issue of specified securities to certain investors, aggregating up to Rs. 220.00 crores, as permitted under applicable law, at its discretion, prior to filing of the ("pre-ipo placement"). The pre-ipo placement, if undertaken, will be at a price to be decided by the company, in consultation with the brlms. If the pre-ipo placement is completed, the amount raised pursuant to the pre-ipo placement will be reduced from the fresh issue, subject to compliance with Rule 19(2)(b) of the securities contracts (Regulation) Rules, 1957, as amended. The pre-ipo placement, if undertaken, shall not exceed 20% of the size of the fresh issue. Prior to allotment pursuant to the pre-ipo placement, the company shall appropriately intimate the subscribers to the pre-ipo placement, that there is no guarantee that the company may proceed with the offer or the offer may be successful and will result into listing of the equity shares on the stock exchanges. Further, relevant disclosures in relation to such intimation to the subscribers to the pre-ipo placement (if undertaken). The offer include a reservation of 113,636 equity shares of face value of Rs. 10 each, aggregating to Rs. 1 Crores (constituting up to 0.02% of the post-offer paid-up equity share capital), for subscription by eligible employees ("Employee Reservation Portion"). The company, in consultation with the brlms, offered a discount of Rs. 9 per equity shares of face value of Rs. 10 each to eligible employees bidding in the employee reservation portion ("Employee Discount"), subject to necessary approvals as may be required. The offer less the employee reservation portion is hereinafter referred to as the "Net Offer". The offer and the net offer constituted 22.92% and 22.90% of the post-offer paid-up equity share capital of the company, respectively. Price Band: Rs. 97 per equity share of face value of Rs. 10 each. The floor price is 9.7 times of the face value of the equity shares. Bids can be made for a minimum of 154 equity shares and in multiples of 154 equity shares thereafter. A discount of Rs. 9 per equity share is being offered to eligible employees bidding in the employee reservation portion.
*Subject to approvals and market conditions.
Strengths & Risks
Key competitive advantages and factors to consider before investing.
- Profitable and scalable Core Business with Operating Leverage.
- Expanding platform network effects driving merchant growth and service adoption.
- Leveraging scale to optimize our business performance
- Self-serve platform offering enterprise-grade experience drawing organic traffic.
- Diversified merchant base minimizing revenue concentration risk.
- The company has Restated Loss for the year of Rs.792.45 million, Rs.744.49 million and Rs.5,951.81 million for Fiscals 2026, 2025 and 2024, respectively. If the company is unable to generate adequate revenue growth and manage its expenses, the company may continue to incur significant losses.
- The company may be unsuccessful in making, integrating and maintaining acquisitions and strategic investments, which could hinder the growth of its business and prevent it from achieving expected returns on such acquisitions or investments. Failures to realize the economic benefit of such acquisitions could result in substantial impairment charges.
- The company has relied on the judgment of its management when ascertaining the company's funding requirements and the proposed deployment of Net Proceeds. Its funding requirements and the proposed deployment of Net Proceeds have not been appraised by any bank or financial institution or any other independent agency, and the company's management and Board will have broad discretion over the use of the Net Proceeds. The company has not entered into any definitive arrangements to utilize the Net Proceeds of the Offer.
- The company's results of operations and cash flows are significantly impacted by the operational results and business decisions of its Merchants, the web traffic they are able to generate, and the company's ability to attract Merchants through online channels, all of which are beyond the company's control.
- The company may faces challenges in growing its Cross-border business due to the company's limited experience in such international markets, and will be reliant on its ecosystem partners to grow such business.