Shiprocket confidentially files draft papers for IPO with SEBI

Temasek-backed logistics company aims to raise around Rs 2,000–2,500 crore for its upcoming initial public offering (IPO), sources said.

May 21, 2025 - 13:50

Shiprocket confidentially files draft papers for IPO with SEBI

Ecommerce enablement startup Shiprocket has submitted a confidential draft red herring prospectus (DRHP) to the Securities and Exchange Board of India (SEBI) for its upcoming initial public offering (IPO), according to a public notice issued by the company.

The company has appointed Axis Capital, Kotak Mahindra Capital, JM Financial, and Bank of America as book-running lead managers for the IPO, according to the filing.

Temasek-backed logistics company aims to raise around Rs 2,000–2,500 crore for its upcoming initial public offering (IPO), according to a PTI report.

The logistics company, which counts Temasek and Zomato among its investors, began as a shipping aggregator and has since broadened its offerings to support direct-to-consumer brands and small businesses.

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Shiprocket unveils India's first AI-integrated MCP Server

Shiprocket recently introduced what it claims is India’s first AI-integrated model context protocol server, aimed at advancing autonomous digital commerce. According to the company, the server enables AI agents to manage essential logistics tasks—such as checking shipping rates and tracking orders—through a single line of instruction.

Designed for D2C brands and MSMEs, the new system promises faster execution, smoother integration, and hands-free operations, all backed by enterprise-level security. With this launch, Shiprocket said it is moving toward a fully autonomous commerce infrastructure, reducing reliance on manual processes.

Earlier, the company noted that it reduced its cash EBITDA burn by about 50% to Rs 100 crore in FY24 from Rs 191 crore a year ago. Shiprocket also said it managed to hit profitability for the first two quarters of FY25, and it remains on track to achieve full profitability.

(The copy was updated with more information.)

Edited by Kanishk Singh