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Shiprocket IPO

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Upcoming IPO. View DRHP for more details.

About the Company
Shiprocket is an end-to-end, new age, merchant-first, and API-led technology platform designed to enable e-commerce transactions for India's MSMEs and Large Retailers. The company simplifies logistics, checkout, payments, fulfilment, and cross-border trade, enabling merchants to sell online and offline efficiently and at scale. According to the Redseer Report, the company is the largest new-age end-to-end horizontal e-commerce enablement platform registered in India in Fiscal 2025.
rocket

Founded In

2011

rocket

CEO

Saahil Goel

Financials of Shiprocket IPO

Income Statement
Balance Sheet
Cash Flows
Total Income
Total Expenses
Total Profit
Key Performance IndicatorsMar 2023Mar 2024Mar 2025
Operating Revenue1,088.831,315.981,632.01
Other Income38.0741.8642.81
Total Income
1,126.901,357.831,674.82
Total Expenses
1,422.761,708.631,749.27
Profit Before Tax-359.02-595.18-74.45
Total Profit
-359.31-595.18-74.45

All figures are in crores (₹)

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Utilisation of Proceeds

All figures are in crores (₹)

PurposeAmount
The company proposes to invest in marketing initiatives and technology infrastructure and capabilities to accelerate growth of both Core Business and Emerging Business segments. This includes performance marketing, digital marketing, brand campaigns, recruitment of marketing personnel, server infrastructure, cloud services, and hiring technology professionals.505
The company intends to repay or prepay certain borrowings in full or in part, including overdraft facilities from banks. This will help reduce outstanding indebtedness, debt servicing costs, and improve ability to raise future resources for business development opportunities.210
The company proposes to utilize funds for potential acquisitions that complement existing offerings, unlock new addressable markets, or have strong unit economics. General corporate purposes include rental expenses, consultant fees, vendor services, employee expenses, insurance, and other ordinary business activities.-
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  • Largest New-Age E-commerce Enablement Platform: The company is the largest new-age end-to-end horizontal e-commerce enablement platform registered in India in terms of revenue from operations in Fiscal 2025, with the largest Merchant base amongst similar platforms.
  • Profitable and Scalable Core Business: The Core Business has been profitable since Fiscal 2022, with Revenue from Operations - Core Business increasing by a CAGR of 16.17% from Fiscal 2023 to Fiscal 2025, demonstrating operating leverage.
  • Asset-Light Business Model: The company operates with lower capital investment and higher flexibility without owning delivery fleets or fulfilment centres, with Gross Additions to Property, Plant and Equipment as only 0.78% of Revenue from Operations in six months ended September 30, 2025.
  • Self-Serve Platform with High Automation: 96.92% of merchant onboarding was completed without any intervention from support team for the Core Business in six months ended September 30, 2025, with 62.57% First Call Resolution Rate.
  • Diversified Merchant Base: The company served 145,269 Active Merchants in six months ended September 30, 2025, with top 1, 5, and 20 Merchants contributing only 3.12%, 7.76%, and 17.22% of Revenue from Operations respectively, minimizing concentration risk.
  • Advanced AI and Data Intelligence: The platform leverages data from more than 140 million end consumers and 620 million unique transactions, with AI-powered RTO prediction achieving 82.59% accuracy and checkout platform pre-filling 92.38% of shipping addresses.
  • Comprehensive Ecosystem Network: The company operates with more than 250 ecosystem partners from April 2021 to September 2025, providing Merchants access to logistics providers, payment gateways, and other services through a single platform.
  • Strong Network Effects and Cross-selling: 52.27% of Power Merchants used more than three products across Core and Emerging Businesses in six months ended September 30, 2025, with 64.56% repeat rate for end consumers on the platform.

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