Shiprocket IPO: Date, Price, Lot Size, Everything You Need to Know

As India’s e-commerce and D2C (direct-to-consumer) market continues to grow rapidly, the spotlight has turned to logistics. One company at the centre of that spotlight is Shiprocket. If you are an investor, the upcoming Shiprocket IPO may offer an opportunity to get exposure to this evolving segment.

Shiprocket’s proposed IPO has drawn attention due to its backing by notable investors and its ambition to scale operations across India and beyond. At the same time, many details are still under wraps, pending public filing of final IPO documents. 

In this blog, we bring you a summary of what is known so far about the Shiprocket IPO.

Shiprocket IPO Dates & Launch Details

• IPO opening date: To be announced
• IPO closing date: To be announced
• Basis of allotment date: To be announced
• Refund initiation date: To be announced
• Expected listing date: To be announced

Here is what is known so far:

• In May 2025, Shiprocket filed a confidential Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI), using the confidential pre-filing route.
• On 31 October 2025, SEBI issued an observation letter approving Shiprocket’s IPO, giving regulatory clearance to proceed with the offering.

Shiprocket Price Band & Investment Details

As of now, several standard IPO parameters remain undisclosed publicly. Therefore:

• Price band: To be announced
• Minimum lot size: To be announced
• Minimum investment amount (for retail investors): To be announced
• Maximum retail investment limit: To be announced

These will be revealed only when Shiprocket publishes its public prospectus or officially notifies the IPO allotment/bidding schedule.

Shiprocket IPO Structure

Despite many fields being pending disclosure, credible sources have shared the broad structure of the IPO, as below:

About Shiprocket

Shiprocket began as a logistics-tech venture aimed at supporting e-commerce sellers and D2C brands, many of whom lack the infrastructure for shipping, warehousing or efficient order-fulfilment. Over time, the company has evolved into a full-stack e-commerce enablement platform. Services offered by Shiprocket include: courier aggregation, shipping and delivery services, fulfilment, warehousing, order management, payment and checkout integration, and value-added services like marketing support for merchants.

According to its own disclosures, Shiprocket counts more than 250,000 e-commerce businesses among its clients. It claims to serve a wide base of sellers across India. 

The IPO is intended to help the company scale operations: expand its warehousing and logistics infrastructure, invest in technology and product development, and strengthen its service offerings, especially for cross-border shipping and newer business lines.

Shiprocket Financials

Because the DRHP is filed confidentially, only limited financials have been made public so far. Here is what is currently known.

Revenue and Profit / (Loss)

Shiprocket attributes a significant portion of its FY 25 loss to employee stock ownership plan (ESOP) expenses. Adjusted for such exceptional items, its core-business performance shows improvement.

Emerging business lines, including cross-border shipping, payment and checkout services, marketing services and post-purchase offerings, reportedly account for around 20% of Shiprocket’s revenue. 

Key Highlights

• Shiprocket has received formal approval from SEBI for its IPO, marking a major milestone in its shift from startup to a public-market entity.
• The planned IPO size is around ₹ 2,500 crore. The capital raise is expected to combine fresh issue and OFS.
• Fresh capital through the issue is estimated at ₹ 1,200 – ₹ 1,400 crore.
• Major institutional investors backing Shiprocket, such as Temasek and Zomato, are reportedly not participating in OFS. Primary sellers are likely founders or early investors.
• For FY 2025, Shiprocket posted operating revenue of ₹ 1,632 crore, showing 24% year-on-year growth.
• Net loss narrowed significantly to ₹ 74 crore (FY 2025) from a much larger loss in FY 2024. 
• Emerging verticals (cross-border shipping, payments, marketing, fulfilment) contribute meaningfully to revenue, indicating diversification beyond pure courier aggregation. 

Sector & Market Context

India’s e-commerce and online retail sectors continue to grow, powered by increasing internet penetration, greater digital adoption, and rising demand from tier-2 and tier-3 cities. As more small and mid-sized merchants and D2C brands emerge, there is a mounting need for third-party logistics (3PL), warehousing, fulfilment, delivery and cross-border shipping services.

Shiprocket seeks to position itself precisely as a logistics and commerce-enablement platform that allows sellers to scale without investing heavily in their own shipping or fulfillment networks. The IPO could provide the capital needed to expand warehousing, improve technology offerings, and scale operations across geographies, thereby aligning Shiprocket’s growth with the broader growth of e-commerce in India.

Additionally, with its branded push into emerging business lines, such as cross-border shipping, payment & checkout solutions, marketing tools for merchants, Shiprocket may benefit from multiple revenue streams rather than relying solely on shipping volumes. This may offer resilience as the e-commerce market evolves.

Key Considerations for Investors

If you are considering applying for the Shiprocket IPO, or simply tracking its progress for future investment, here are several critical points you should keep in mind.

Strengths

• Regulatory clearance secured: With SEBI’s approval in hand, Shiprocket is formally IPO-ready.
• Revenue growth and reducing losses: FY 2025 results show improving revenue and much-reduced losses; this suggests operational discipline and potential for future profitability.
• Diverse business model: Shiprocket’s offerings extend beyond courier aggregation to fulfilment, warehousing, cross-border logistics, payment and checkout, marketing services, which may drive long-term revenue diversification.
• Strong investor backing: Established institutional investors (Temasek, among others) bring credibility, capital and strategic support.
• Large merchant base and scale potential: Serving hundreds of thousands of e-commerce businesses across wide geographies gives the company scale and a broad addressable market.

Risks & Uncertainties

• Key IPO details remain unknown: Price band, lot size, minimum retail investment, public prospectus and listing date are all “To be announced.” Without them, investors cannot plan accurately.
• Profitability remains to be proven: While losses have narrowed, Shiprocket is still not profitable; future performance will depend heavily on execution, cost control, and scaling of new verticals.
• Execution risk in logistics and expansion: Building fulfilment centres, warehousing, delivery infrastructure, especially for cross-border operations, is capital intensive and operationally complex.
• Dependence on e-commerce growth and macro factors: The company’s success depends on continuous growth of e-commerce, stable economic environment, manageable cost of logistics, fuel, regulatory support, etc. Slowdown in e-commerce demand or macroeconomic headwinds may affect business.
• Limited long-term public data: Because of the confidential-filing route, detailed historical financials beyond recent years are not publicly available, making long-term trend analysis difficult.

About the Company

Shiprocket began as a courier-aggregation startup for e-commerce sellers and evolved into an end-to-end commerce-enablement platform. The services it offers include shipping and delivery by integrating multiple courier partners, fulfillment and warehousing, order management and fulfillment, payment and checkout integration, cross-border shipping support, and value-added services like marketing or merchant support.

The IPO is expected to fund expansion of warehousing and logistics infrastructure, technology enhancements, and growth of newer business verticals. Backed by institutional investors and catering to a vast and growing base of e-commerce and D2C sellers across India, Shiprocket aims to become a foundational infrastructure provider for India’s online commerce ecosystem.

Conclusion

The Shiprocket IPO appears to present a compelling opportunity, especially for investors willing to back growth-oriented firms in the logistics and e-commerce infrastructure space. With SEBI’s approval secured and a path to public listing underway, Shiprocket’s business model, recent financial improvements, and diverse services make it a name to watch.

However, from an investor’s perspective, caution is also warranted. Critical information remains undisclosed, the firm is still not profitable, and its success will depend heavily on execution, scaling ability, and external economic and market conditions.

If you are considering investing, you should watch for the public prospectus, scrutinise pricing and lot size when announced, and assess how the final valuation compares with potential growth and risks. Until then, treat available data as indicative and invest only according to your risk tolerance and long-term view.