Zomato-backed Shiprocket gets SEBI nod for Rs 2,500 Cr IPO

Temasek and Zomato-backed Shiprocket has received SEBI’s approval  for its Rs 2,500-crore initial public offering.

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Filed in May, the IPO aims to fund product development, tech upgrades, acquisitions, and logistics expansion. Shiprocket says its emerging businesses are growing fast as it strengthens its position in India’s digital logistics space.

Ahead of its IPO, Shiprocket has turned profitable, posting a positive cash EBITDA for the first time in FY25 as its core business EBITDA more than doubled to ₹157 crore. 

Revenue grew 24% year-over-year to ₹1,632 crore, led by strong shipping demand and expansion into new verticals. Net losses dropped sharply to ₹74 crore from ₹595 crore in FY24, mainly due to ESOP-related non-cash expenses of ₹91 crore.

The Delhi-based logistics unicorn is also testing a quick commerce service for hyperlocal sellers. Still in its MVP stage, the platform currently handles 3–4 lakh deliveries monthly across six cities, including Delhi, Bengaluru, and Mumbai, through a network of last-mile partners.

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