Shiprocket iPo: Shiprockt has submitted draft papers from the Confidential Route near the Capital Market Regulator SEBI for its IPO. This is known by CNBC-TV18 from sources. The company wants to raise funds up to Rs 2,000-2,500 crore from its IPO. Confidential root provides secrecy to companies until the final decision on the listing. If necessary, they can later withdraw the draft without disclosing important information based on market conditions.
Confidential pre-filing companies allow sensitive business details or financial metrics and risk to be confidential, especially from computers. On the other hand, Standard DRHP (Draft Red Herring Prospectus) becomes a public document after filing.
OFS along with new shares in IPO
Shiprockt’s IPO will have new shares of ₹ 1,000-1,200 crore. Also, the offer for sale (OFS) will also be from existing investors. The money acquired by releasing new shares in the IPO will be used to develop product development, strategic acquisition, logistics and warehousing infrastructure and strengthen the company’s technology structure.
Shiprockt also has money from Global Investment Company Temasake and Food delivery platform Zomato. Shiprockt has become a full-stack e-commerce enabler for a shipping provider direct-to-conjumer (D2C) brands and MSMEs. Axis Capital, Bofa Securities, JM Financial and Kotak Mahindra Capital Company Limited are the book-hanging lead manager of Shiprockt.
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Shiprockt’s operating revenue rose by 21% to ₹ 1,316 crore in FY 2024 on an annual basis. The company suffered a net loss of ₹ 595 crore due to the expenses related to restructuring cost and ESOP. Shiprockt has recently launched India’s first AI-Integrated Model Context Protocol Server. This server allows AI agents to directly handle the major tasks ranging from checking shipping rates to the order to track the order.
Service gives more than 12 crore and users
Shiprockt processes more than 49 crore e-commerce transactions and serves more than 12 million end users through its main business. Its logistics network covers the 19,000 PIN code across India and reach more than 160 countries through its cross border capabilities. D2C brands such as Maurth, Giva, Capafeen and Belavita take advantage of the end-to-end solutions of Shiprockt. Shiprockt was started in January 2012 by Sahil Goyal and Gautam Kapoor.
