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New Delhi: Online selling platform Shiprocket has received approval from Indian market regulator SEBI for its Rs 2500 crore IPO. This approval comes at a time when the company is preparing to strengthen its position in the fast-growing Direct-to-Consumer (D2C) e-commerce market.
ET quoted sources saying that the company will present about half of its IPO in the form of new capital raising (fresh issue). While some of its initial investors and founders will sell partial stakes. At the same time, the company's main investors Zomato and Temasek will not sell their stake in this IPO. Shiprocket had confidentially filed its draft document with SEBI in May and is expected to file the updated Draft Red Herring Prospectus (DRHP) in the coming weeks.
This Gurugram-based company registered an operating revenue of Rs 1,632 crore with an increase of 24 percent in the financial year 2025. In the same period, the company's net loss has come down to Rs 74 million, which is much lower than last year's Rs 595 crore. The company said that the bulk of the losses is related to the ESOP (Employee Stock Ownership Plan) expenses paid to the employees, which stood at about 91 million rupees.
Shiprocket is now focusing more on its new business lines, such as cross-border shipping, marketing services, and checkout and fulfillment. These segments currently contribute about 20 percent of the company's total revenue. The company will use the money raised from the IPO to expand these emerging businesses.
(Disclaimer: (Disclaimer: This article is only meant to provide information. News9 does not recommend buying or selling shares or subscriptions of any IPO, Mutual Funds, gold, silver and crypto assets.))
