Shiprocket
Shiprocket is an AI-driven, merchant-first technology platform that enables MSMEs to operate e-commerce businesses by providing integrated logistics, checkout, payments, and fulfillment services. It operates in the e-commerce enablement and logistics technology sector, facilitating both domestic and cross-border trade.
Price Band
₹92 - ₹97
Lot Size
154 Shares
Issue Size
₹1,617.48 Cr
Fresh Issue
₹885.50 Cr
OFS
₹731.98 Cr
Registrar
AI Sentiment Score
Listing Price
₹131.00
vs Issue: ₹97 (+35.05%)
📅 IPO Timeline
✓
Open
Aug 12
✓
Close
Aug 14
✓
Allotment
Aug 17
✓
Refund
Aug 18
✓
Demat
Aug 18
✓
Listing
Aug 19
✨ AI Analysis & Prediction
+26.8%
predicted listing gain
The listing gain is adjusted upward from the GMP baseline due to exceptional institutional demand (QIB subscription at 125.2x) and a balanced issue structure with significant fresh capital. While the company is currently loss-making on a per-share basis, the strong revenue growth and institutional appetite typically drive a listing pop in the new-age tech sector.
💪 Strengths
- Strong revenue growth trajectory
- Comprehensive AI-driven e-commerce suite
- Established cross-border shipping routes
⚠️ Weaknesses
- Consistent net losses over the last three years
- Negative EPS and RoNW
🚀 Opportunities
- Increasing MSME adoption of e-commerce
- Expansion of international trade corridors
🛡️ Threats
- Intense competition in the logistics tech space
- Sensitivity to e-commerce regulatory changes
🎯 Objectives of the IPO
| Requirement / Purpose | Amount (₹ Cr) |
|---|---|
| Investment in the growth of Shiprockets platforms-Investment in marketing initiatives primarily for Emerging Business and for Core Business | ₹365.60 |
| Investment in marketing initiatives primarily for the Emerging Business and for our Core Business | ₹205.80 |
| Investment in technology infrastructure and capabilities primarily for the Emerging Business and for our Core Business | ₹159.80 |
| Repayment / prepayment, in full or in part, of certain borrowings availed of by the Company including payment of the interest accrued thereon | ₹210.00 |
| Funding inorganic growth through unidentified acquisitions and general corporate purposes | ₹676.28 |
📊 Financial Overview
| Metric | FY24 | FY25 | FY26 |
|---|---|---|---|
| Revenue (₹ Cr) | Rs 1,316.00 Cr | Rs 1,632.00 Cr | Rs 2,024.00 Cr |
| Net Profit / PAT (₹ Cr) | Rs -595.00 Cr | Rs -74.00 Cr | Rs -79.00 Cr |
| EBITDA / Op. Profit (₹ Cr) | Rs -293.00 Cr | Rs -60.00 Cr | Rs -67.00 Cr |
| Borrowings (₹ Cr) | Rs 374.00 Cr | Rs 394.00 Cr | Rs 345.00 Cr |
| Total Assets (₹ Cr) | Rs 2,051.00 Cr | Rs 2,309.00 Cr | Rs 2,505.00 Cr |
| ROCE % | -18.00% | -3.00% | -3.00% |
📋 Live Subscription Status
QIB
125.20x
NII
71.39x
Retail
48.38x
Total
102.28x
Updated: Aug 20, 2026 11:01 AM
💼 Reservation Quota
QIB
75.00%
Retail
10.00%
NII
15.00%
📈 Shareholding & Anchor Lock-In
🔗 Important Links & Lead Managers
- Check Allotment StatusCheck Now →
- Registrar WebsiteVisit →
- Download DRHP ProspectusDownload PDF 📥
- Download RHP ProspectusDownload PDF 📥
Lead Managers / Merchant Bankers
This issue is managed by Hem Securities Ltd., and Share India Capital Services Pvt. Ltd.
Disclaimer: The information provided on this page is for educational and informational purposes only and does not constitute financial advice. IPO investments are subject to market risks. AI-generated analysis is based on publicly available data and may not be accurate. Grey Market Premium (GMP) is unofficial and highly speculative. Always consult a qualified financial advisor and read the DRHP/RHP carefully before making investment decisions.
Incorporated in 2011, Shiprocket has evolved from a dedicated shipping platform into a comprehensive e-commerce ecosystem. Initially focusing on domestic shipping, instant pickups, and order tracking, the company expanded its capabilities to include weight verification and faster cash-on-delivery (COD) settlements to solve critical pain points for small merchants.
The company's business model is centered on providing a one-stop solution for MSMEs. Its current suite of services includes Cargo and fulfillment, advertising and marketing tools, and specialized merchant solutions. By integrating these services, Shiprocket allows merchants to manage their online and offline sales channels with higher efficiency.
Shiprocket has established a significant global footprint, specifically managing five main international shipping routes that connect India with the United States, the United Kingdom, Canada, Europe, and Singapore. This enables Indian MSMEs to scale their operations globally through simplified cross-border trade logistics.
Operationally, the company leverages AI-driven technology to optimize delivery and checkout processes. Its platform serves as a critical bridge between merchants and multiple logistics carriers, providing a scalable infrastructure that grows with the merchant's business volume.
Regarding ownership, the company does not have a single identifiable promoter, reflecting a diversified shareholder base typical of venture-backed new-age tech platforms before their public listing.
The Shiprocket IPO is a mainboard issue seeking to raise approximately ₹1,617.48 Crore. The issue is structured as a combination of a fresh issue of ₹885.50 Crore and an Offer for Sale (OFS) of 7,54,62,363 equity shares. The price band is set between ₹92 and ₹97 per share, with a minimum lot size of 154 shares requiring an investment of ₹14,938. The IPO is scheduled to open on August 12, 2026, and close on August 14, 2026, with listing on the BSE and NSE on August 19, 2026.
The proceeds from the fresh issue are strategically allocated toward growth. Specifically, ₹365.60 Crore is earmarked for platform growth, ₹205.80 Crore for marketing initiatives for emerging and core businesses, and ₹159.80 Crore for technology infrastructure. Additionally, ₹210.00 Crore will be used for the repayment or prepayment of certain borrowings.
Financial performance shows a strong top-line trajectory, with revenue growing from ₹1,357.83 Crore in 2024 to ₹2,077.42 Crore in 2026. However, the company continues to face challenges in profitability, reporting a net loss of ₹79.25 Crore in 2026 compared to a loss of ₹74.45 Crore in 2025, indicating a widening gap as it scales.
From a valuation perspective, the company has a negative EPS of ₹(1.23) for FY2026 and a Return on Net Worth (RoNW) of (5.20%). The Net Asset Value (NAV) stands at ₹23.96. Compared to peers like Unicommerce Esolutions, which trades at a P/E of 47.75, Shiprocket is positioning itself as a high-growth tech play where revenue scale is prioritized over immediate PAT.
Key strengths include its AI-driven platform, diverse service offerings (logistics to payments), and strong international reach. However, the continued losses and the absence of an identifiable promoter group may be points of caution for conservative investors.
Overall, the IPO presents a classic growth-versus-profitability trade-off. While the institutional demand is overwhelming, the long-term success will depend on the company's ability to turn its massive revenue growth into sustainable bottom-line profits.