• Upcoming IPO to include a fresh equity raise aimed at scaling new business verticals.
• Almost half of the issue will be fresh equity to fund emerging business lines.
• Backed by Zomato and Temasek, the firm reported strong revenue growth and reduced losses in FY25.

Logistics and e-commerce enablement platform Shiprocket has received the green light from the Securities and Exchange Board of India (SEBI) to launch its Rs 2,500 crore initial public offering (IPO), according to sources. The Gurugram-based startup, known for supporting direct-to-consumer (D2C) brands and small sellers, had filed confidentially in May and is expected to release its draft red herring prospectus (DRHP) soon.

Nearly 50% of the IPO will comprise fresh equity, aimed at bolstering the company’s fast-growing business lines, which now account for about one-fifth of its revenue. These include cross-border shipping, marketing services, and checkout and fulfillment solutions.

Zomato and Temasek, among Shiprocket’s prominent investor are not expected to sell their stakes in the IPO. Instead, the sale of shares will likely come from the company’s founders and some early backers, according to sources close to the matter.

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For the fiscal year 2025, Shiprocket posted a robust 24% increase in operating revenue, reaching Rs 1,632 crore. The company also significantly narrowed its net losses to Rs 74 crore, down from Rs 595 crore in the previous year. The reduction was driven by improved financial performance and lower exceptional costs. The company said major losses were tied to employee stock ownership plan (ESOP) expenses of Rs 91 crore.

With this approval, Shiprocket looks poised to strengthen its position in the logistics tech space and expand its offerings for India’s growing e-commerce ecosystem.