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Shiprocket IPO
116.06xsubscribed

Shiprocket IPO

Logistics
listed
₹14,168Min. investment

Shiprocket Limited IPO Details

SectorLogistics
Price range₹92.00 – ₹97.00
IPO type
Regular
Lot size154 shares
Issue size₹1,617Cr
Red Herring Prospectus
Read
Market cap
₹7,057CrHigher than sector avg
RevenueApr 2025 - Mar 2026
₹2,024CrHigher than sector avg
Growth rate3Y CAGR
24.02%Higher than sector avg

Shiprocket IPO Subscription Status

Date
QIB
NII
Retail
Total
12-Aug-26
0.02 times (X)
2.66 times (X)
2.41 times (X)
0.86 times (X)
13-Aug-26
0.02X
10.63X
7.04X
2.81X
14-Aug-26
82.39X
262.81X
43.96X
116.06X

As on 12-Aug-26, 5:30 PM

Shiprocket IPO Timeline

  1. Pre-apply
    11 Aug 2026
  2. Bid start
    12 Aug 2026
  3. Bid end
    14 Aug 2026
  4. Allotment
    17 Aug 2026
  5. Release of funds
    18 Aug 2026
  6. Demat transfer
    18 Aug 2026
  7. Listing
    19 Aug 2026

About Shiprocket Limited

Shiprocket is an Indian e-commerce enablement company that helps MSMEs, D2C brands and large retailers manage their online businesses. It provides technology-based solutions across domestic shipping, fulfilment, payments, checkout, cross-border shipping and other commerce services, allowing merchants to sell through websites, mobile apps, social media platforms and offline stores.
According to the Redseer Report, Shiprocket was India's largest new-age end-to-end horizontal e-commerce enablement platform by revenue from operations in FY26. The company started as a shipping platform and has gradually expanded into a full-stack commerce platform. Its solutions are mainly designed for businesses selling directly to consumers through their own websites, mobile apps and social media channels. Shiprocket follows a usage-based pricing model, where merchants pay according to the products and services they use.
The company has two business segments. The core business consists of the Shiprocket Domestic Shipping platform and a host of shipping software solutions. The platform connects merchants with a host of logistics partners for deliveries across India, and the software comes with features including instant pickups, tracking of shipments, secure delivery, weight verification and faster COD remittances. In FY26, the core business represented 73.3% of total revenue from operations.
The emerging business consists of newer services like cargo and fulfilment, cross-border shipping, advertising and marketing solutions, financing via Shiprocket Fintech and hyperlocal delivery under Shiprocket Quick, in addition to domestic shipping. This segment contributed 26.6% to total revenue from operations in FY26.
Shiprocket's platform had 214,769 active merchants in FY26, who processed 20.21 crore unique transactions and served 6.96 crore end consumers. The company also recorded a 57.7% repeat purchase rate. The company had 10,090 power merchants in FY26. These merchants process more than 100 transactions per active month on average and accounted for 4.70% of the active merchant base. The average revenue per power merchant (ARPU) increased to ₹17.8 lakhs in FY26 from ₹12.8 lakhs in FY24. Its merchants operate across categories such as beauty and personal care, apparel, footwear, home décor and electronics. Its Power Merchant base includes D2C brands, Brand.com businesses, offline retailers, marketplaces and social commerce sellers.
Shiprocket enabled cross-border shipments for 5,884 merchants in FY26 through a network of 21 partners, supporting GMV of ₹508.15 crore. Its international network currently covers markets such as the U.S., U.K., Canada, Europe and Singapore. The company launched Shiprocket Quick in FY25 and expanded the service to 92 cities by FY26. The platform served 18,472 active merchants and processed 149,417 transactions during the year. The company also compensates merchants for eligible operational failures, including lost or damaged shipments and service-level breaches. Merchant compensation increased to ₹53.11 crore in FY26 from ₹33.80 crore in FY25. As of March 31, 2026, Shiprocket had 344 Key Account Managers supporting merchants and achieved a 51.15% First Call Resolution Rate during FY26. As of March 31, 2026, the company had six direct subsidiaries and one step-down subsidiary.
India’s B2C commerce market is a huge opportunity across online retail, offline retail and cross-border trade. These segments together represented a market opportunity of ₹10-11 lakh crore (US$116-126 billion) for new-age e-commerce enablement platforms in CY25. The Direct Commerce market was ₹74,000-91,400 crore (US$9-11 billion) in GMV in CY25, and is projected to grow at 20-25% CAGR through CY30. In CY25, it had a 10-12% share of India’s online retail market, giving it a favourable growth runway. The biggest opportunity is in cross-border retail with a GMV of ~₹6 lakh crore (US$72 billion) in CY25. The segment is expected to grow at a CAGR of 14-20% from CY25 to CY30.
The company has a network-driven business model where a larger merchant base attracts more logistics and service partners, improving delivery coverage, pricing and service quality. The integrated platform also allows the company to offer new features including same-day delivery, fulfilment, financing and cross-border shipping.
In FY26, Shiprocket delivered in 34 cities on the same day and in 530 cities the next day. Logistics and fulfilment partners have higher utilisation with higher transaction volumes, which attracts more partners to the platform. The company also plans to expand its presence in Tier 2 and Tier 3 cities by targeting semi-digital merchants. The continued expansion of Direct Commerce is expected to increase demand for technology platforms that help merchants manage shipping, payments, fulfilment and other commerce operations through a pay-per-use model.
Now, Shiprocket is launching its initial public offering (IPO), which consists of a fresh issue of ₹885 crore and an offer for sale of ₹732 crore. The total issue size of the IPO is ₹1,617 crore. Its shares will be listed on the NSE and BSE.

How to pre-apply for Shiprocket IPO?

You can pre-apply for Shiprocket IPO on Upstox. The pre-application for this IPO, which means the pre-apply open date, usually begins a day before the IPO opens for subscription.
Follow these steps to pre-apply for the IPO:
  • Login to your Upstox account, using your six-digit PIN
  • After successfully logging in, click on ‘Discover’
  • On the Discover tab, you will find the ‘Invest in IPO’ section
  • Under the Invest in IPO section, look for the ‘Shiprocket IPO’ tab and click on it
  • Now fill in all the required information, like ‘bid price’ and ‘lot size’
  • Confirm and click on ‘Pre-Apply’
  • Accept the mandate on your UPI app

How to apply for Shiprocket IPO?

If you are interested in this investment opportunity but unsure how to apply for Shiprocket IPO, here are the steps that you need to follow.
When the public issue opens for subscription, one can follow this step-by-step guide on how to apply for Shiprocket IPO on Upstox:
  • Log in to your Upstox account, using your six-digit PIN
  • After logging in, click on ‘Discover’
  • On the ‘Discover’ tab, you will find the ‘Invest in IPO’ section
  • Under the Invest in IPO section, look for the ‘Shiprocket IPO’ tab and click on it
  • Now fill in all the required information, like ‘bid price’ and ‘lot size’
  • Confirm and click on ‘Apply’
  • Accept the mandate on your UPI app

How to check allotment status for Shiprocket IPO?

When the allotment process is completed, you can check the status of your application on the Upstox app. Share allotment is generally completed on the next working day after an IPO closes.
Here’s a step-by-step guide on how to check the Shiprocket IPO allotment status:
  • Login to your Upstox account, using your six-digit PIN
  • After logging in, click on ‘Discover’
  • On the ‘Discover’ page, you will find the ‘Invest in IPO’ section
  • Under the Invest in IPO section, you will find the ‘View all’ option
  • Once you click on ‘View all’, you will be directed to the ‘IPO’ tab
  • In the ‘IPO’ tab, click on ‘My applications’
  • In ‘My applications’, under the History section, your Shiprocket IPO allotment status will be mentioned

Shiprocket Limited IPO Analysis

IPO REVIEW

Shiprocket IPO | Analysis Video

Should you apply?

Watch our analysts break down the Shiprocket Limited IPO — business model, financials, valuation and key risks — to help you decide whether to apply. The video covers the IPO price band, important dates, and what the subscription numbers mean for retail investors.

Checklist

Quality analysis
Revenue growth
Company valuation
Earnings expansion
Risk analysis
Debt to Equity ratio
Promoter holdings
Shares pledged
The investment checklist helps you understand a company's financial health at a glance and identify quality investment opportunities easily

Strength and Weakness

Market leadership with network effect

The company has the largest horizontal e-commerce enabler network in India with 214,769 merchants connecting to 15.5 crore+ consumers with an RTO prediction of 83.01% accuracy based on 73 crore+ transactions of data.

Low-cost, digital acquisition

96.73% self-serve onboarding and 42.98% organic registrations led to a 31% reduction in per-merchant cost of customer acquisition from ₹4,101 in FY24 to ₹2,829 in FY26, with marketing expenditure at <2% of core business revenue.

Offer multiple solutions

The company offers a single platform with multiple commerce solutions including shipping, fulfilment, checkout, financing and marketing.

Diversified and low concentration merchant base

Top-20 merchants contribute just 17.6% of FY26 revenue vs prior years. Diversification in categories (Personal care 31.1%, Apparel 21.6%). Marquee brands include Mamaearth, Boat and Levi’s.

High Platform Engagement

The platform receives approximately 2.34 million organic visitors each month. FY26 saw an impressive 50.8% of merchants receiving their first order within 24 hours of signing up for the company’s services and a First Call Resolution Rate of 51.15%.

Objectives of Shiprocket Limited IPO

Unidentified acquisitions and general corporate purposes
35.10%
Some gross proceeds will fund unidentified acquisitions and corporate purposes.
Repayment of borrowings
23.70%
The company will use ₹210 crore for repayment of certain borrowings availed of by it.
Marketing expenses
23.20%
₹205.80 crore will fund marketing initiatives for emerging and core businesses.
Capital expenditure
18.10%
₹159.80 crore will fund technology infrastructure for emerging and core businesses.

Compare

CompanyRevenue*3Y growthPATMarket capD/E ratio
This IPO₹2,024Cr24.02%-₹79.25Cr₹7,057Cr0.16
This sector (avg.)₹711.28Cr0.02%-₹13.78Cr₹1,677.75Cr0.59
₹8,887.02Cr---₹1,291.84Cr₹38,252.26Cr0.07
₹6,763.79Cr---₹787.42Cr₹25,640.55Cr0.99
₹426.73Cr----₹38.28Cr₹10,164.42Cr0.03

*Revenue for financial year 2025-26. Lower P/E and D/E ratios are generally preferred.

Shiprocket IPO Contact Details

Company NameShiprocket Limited

How to apply for Shiprocket IPO?

  1. Step 1

    Log in to your Upstox account to access IPO investments. Next, select the current IPO section.

  2. Step 2

    Specify IPO details. Enter the number of lots and the price you wish to apply for.

  3. Step 3

    Enter UPI ID. After entering your UPI ID, click submit. This will place your bid with the exchange.

  4. Step 4

    Mandate Notification. Your UPI app will receive a mandate notification to block funds.

  5. Step 5

    Approve Request. Your funds will be blocked once you approve the mandate request on your UPI.

Shiprocket Limited IPO FAQs

Investors can apply for the Shiprocket IPO through their Demat account via the stock exchange or through their broker.
The issue size of the Shiprocket IPO is 1617 Cr.
Pre-applying for an IPO allows you to submit your application before the official subscription period begins.
The IPO shares will typically list on major stock exchanges such as the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE), as specified in the IPO prospectus.
Shiprocket IPO will be open between 2026-08-12 and 2026-08-14.
Shiprocket IPO allotment date is 2026-08-18. For Shiprocket IPO allotment status check, you can visit the website of the registrar of the IPO.
For Shiprocket IPO, the IPO registrar is KFin Technologies Limited. You can check Shiprocket IPO allotment status on the website of the registrar.
The shares are proposed to be listed on the BSE and NSE.
The Shiprocket IPO shares will typically be credited to your demat account one working day before the IPO's listing date, provided your application is successfully allotted.
The Shiprocket IPO lot size is 154 and minimum order quantity is 154.
Shiprocket IPO has set the price band for its IPO at 97 per equity share with a face value of 10.