Shiprocket Gets SEBI Nod For Its IPO

Delhi NCR-based logistics aggregator Shiprocket has received approval from the Securities and Exchange Board of India (SEBI) to proceed with its initial public offering (IPO).

According to the latest processing status data on the SEBI website, the regulator issued observations to the company on October 31.

In SEBI’s parlance, issuance of observations is a nod to proceed with the public issue.

Shiprocket filed its pre-IPO papers in May 2025 through the confidential route.

The company is reportedly planning to raise around INR 2,000 Cr to INR 2,500 Cr from the IPO, including a fresh issue of INR 1,000 Cr to INR 1,200 Cr.

The SEBI nod comes days after the company reported a sharp reduction in its FY25 loss. Shiprocket’s consolidated net loss narrowed 88% to INR 74.5 Cr in FY25 from INR 595.2 Cr in FY24, driven by margin gains and revenue growth. Operating revenue grew 24% YoY to INR 1,632 Cr during the year, while it also turned cash EBITDA positive at INR 7 Cr.

Delhi NCR-based logistics aggregator Shiprocket has received approval from the Securities and Exchange Board of India (SEBI) to proceed with its initial public offering (IPO).

According to the latest processing status data on the SEBI website, the regulator issued observations to the company on October 31.

In SEBI’s parlance, issuance of observations is a nod to proceed with the public issue.

Shiprocket filed its pre-IPO papers in May 2025 through the confidential route.

The company is reportedly planning to raise around INR 2,000 Cr to INR 2,500 Cr from the IPO, including a fresh issue of INR 1,000 Cr to INR 1,200 Cr.

In the run up to its IPO, the logistics company managed to narrow its net loss by 88% to INR 74.5 Cr in FY25 from INR 595.2 Cr in FY24. Its operating revenue grew 24% YoY to INR 1,632 Cr during the year, while it also turned cash EBITDA positive at INR 7 Cr.

Founded in 2017 by Saahil Goel, Vishesh Khurana, Akshay Ghulati and Gautam Kapoor, Shiprocket operates a logistics and ecommerce enablement platform that helps online sellers to manage shipping, order fulfilment, tracking and returns from a single dashboard. It partners with logistics companies such as Delhivery, FedEx, Xpressbees, DTDC and Shadowfax to enable deliveries for D2C brands and small businesses across India and more than 200 countries.

The company runs an asset-light business model focused on tech rather than owned infrastructure. Its courier recommendation system automatically selects delivery partners for each order to reduce cost and time.

It also automates delivery routes and prevents cash-on-delivery frauds, a common challenge in ecommerce.

Notably, over the years, Shiprocket has expanded beyond logistics into areas like cross-border shipping, payments, marketing tools, omnichannel commerce and credit for sellers. These newer business lines contributed INR 326 Cr to its revenue in FY25.

The company now operates more than 35 fulfilment centres across India, offering end-to-end logistics support to D2C brands.

Backed by investors such as Lightrock, Temasek, Bertelsmann India Investments and Zomato, Shiprocket is currently valued at around $1.2 Bn and has raised more than $260 Mn.

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