Shiprocket Pre-IPO Placement of Rs 220 Crore

Shiprocket is on track to generate Rs 220 crore through a pre-IPO placement ahead of its anticipated public offering. The logistics and supply chain platform intends to raise Rs 1,100 crore via a fresh issuance, as indicated in regulatory documents reviewed by Startup Superb. The company, backed by Temasek, aims for a total issue size of between Rs 2,000 and Rs 2,400 crore, which will include an offer for sale (OFS).

Details of Shiprocket’s Public Offering

The board has approved a special resolution permitting the issuance of equity shares valued up to Rs 1,100 crore, which incorporates the pre-IPO segment. This initiative follows shortly after Shiprocket’s confidential filing of its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) and the stock exchanges. Reports suggest that Shiprocket has engaged Axis Capital, Kotak Mahindra, JM Financial, and BofA Securities as lead bankers for this public offering.

Background on Shiprocket

Founded by Saahil Goel, Gautam Kapoor, and Vishesh Khurana, Shiprocket serves as a logistics and supply chain platform that facilitates businesses in simplifying their shipping processes through courier integration, real-time tracking, and automation solutions. To date, Shiprocket has successfully raised over $320 million and is currently valued at $1.21 billion.

Investment and Financial Performance

As per various sources from startup data intelligence platforms, Bertelsmann Nederland B.V. ranks as Shiprocket’s largest external stakeholder, with Tribe following closely behind. Other significant investors in Shiprocket include Zomato, Temasek, LightRock, and PayPal. For the fiscal year ending March 2024, the company reported a 21% year-on-year increase in revenue, with figures reaching Rs 1,316 crore. However, its losses were recorded at Rs 595 crore during the same timeframe.

Competition Landscape

In the competitive arena, Shiprocket contends with Unicommerce, which has recently acquired Shipway, alongside other rivals such as Shipyar, among various others.