The IPO will also include a fresh share sale worth ₹1,000–1,200 crore. Investment banks axis capital, Kotak Mahindra Capital, JM Financial, and Bank of America, have been roped in to manage the IPO process.
Sources added that the proceeds from the IPO will go toward product development, tech upgrades, acquisitions, and expanding logistics and warehousing.
Addressing market uncertainties, in a chat with CNBC-TV18 on Young Turks Reloaded podcast, Saahil Goel, MD & CEO, Shiprocket, said, “As long as you build a fundamentally sustainable business, the external pressures of doing things which may or may not be good for the business at various times become much less. That’s the opportunity of trying to see where the risk reward ratio is. You can stray sometimes too far, and then you end up kind of having to make decisions.”
Shiprocket’s operating revenue grew by 21% year-on-year, reaching ₹1,316 crore rupees in fy24. The company also incurred a net loss of ₹595 crore from ₹341 crore the year before due to restructuring costs and ESOP-related expenses.
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Despite the losses, the firm has been able to cut down on cash burn, with the first two quarters of the current fiscal year already profitable. Shiprocket reduced its cash Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) burn by about 50%, down from ₹191 crore in FY23 to ₹100 crore in FY24.
Emerging businesses, including Shiprocket Cross Border and Shiprocket Checkout, reported growth rates of 70-100% year-on-year, contributing nearly 20% of total revenue in FY24. The core business remains profitable, bolstered by the integration of Pickrr’s domestic shipping services.
“We can survive and we can thrive within the ecosystem that we have external capital. Good IPO markets, good public markets. Help us build quicker, faster, innovate and in many ways disrupt ourselves because the new wave of innovation that we’re doing, we disrupted something ten years ago. Yeah. Now we have to disrupt ourselves because we are now the incumbent,” Akshay Ghulati, CEO – International Shipping, Shiprocket, added on the Young Turks Reloaded podcast.
IPO-bound ecommerce enablement platform recently launched India’s first AI-integrated model context protocol server, marking a significant step in autonomous digital commerce. This server allows AI agents to directly handle key operations from checking shipping rates to tracking orders using a single line of instruction, the company said in a statement.
The innovation is targeted at D2C brands and MSMEs, promising faster execution, seamless integration, and hands-free operations with enterprise-grade security. With this rollout, Shiprocket aims to shift from manual processes to fully autonomous commerce infrastructure, it added.
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