Temasek-backed Shiprocket likely to file confidential IPO papers to raise Rs 2,500 cr

New Delhi, May 19 (PTI) Temasek-backed Shiprocket, an eCommerce enablement platform, is likely to file draft papers with capital markets regulator Sebi through a confidential route for its IPO to raise up to Rs 2,500 crore, according to sources.

The confidential pre-filing route allows the company to withhold public disclosure of details under the draft red herring prospectus (DRHP) until later stages.

Sources said that the Initial Public Offering (IPO) of Shiprocket would comprise a fresh issue and an offer for sale (OFS) by existing investors.

The company looks to raise around Rs 2,000-2,500 crore through the public issue, they said.

The proceeds from the fresh issue, if included, are expected to be used for product development, strategic acquisitions, expansion of logistics and warehousing infrastructure, and strengthening its technology stack.

An email query sent to the company for its response to the proposed IPO remained unanswered.

Backed by marquee investors like Temasek and Zomato, Shiprocket evolves from a shipping provider to a full-stack eCommerce enabler for direct-to-consumer (D2C) brands and MSMEs of Bharat.

The Gurugram-based company clocks over Rs 25,000 crore in gross merchandise value (GMV) for its 1.5 lakh sellers and grows at an annual rate of approximately 30 per cent.

Shiprocket processes over 490 million eCommerce transactions and serves over 120 million end consumers through its core business. It enables over 4 lakh merchants to scale online, supported by a logistics network that covers 19,000 pin codes across India and reaches over 160 countries via its cross-border capabilities.

D2C Brands like Mamaearth, Giva, mCaffeine, and Bellavita leverage Shiprocket's end-to-end solutions to streamline operations, improve delivery performance, and expand their reach.

Axis Capital, BofA Securities, JM Financial, and Kotak Mahindra Capital Company Ltd are the book-running lead managers to the issue, sources said. PTI HG HG MR