Shiprocket IPO

About the company

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

GMP trend (Grey Market Premium by date)

Financial performance (₹ Cr)

Subscription breakup (final, times)

IPO Roadmap / Timeline

1. IPO Opens

   Completed
   12 Aug 2026

   Bidding starts for all investor categories

2. IPO Closes

   Completed
   14 Aug 2026

   Last day to place your bid

3. Basis of Allotment

   Completed
   17 Aug 2026

   Share allotment finalised

4. Refund Initiation

   Completed
   18 Aug 2026

   Refunds credited for non-allottees

5. Credit to Demat

   Completed
   18 Aug 2026

   Allotted shares credited to demat account

6. Listing on Exchange

   Completed
   19 Aug 2026

   Shares list on NSE / BSE

Post-close dates are indicative as per SEBI T+3 listing framework and may change per registrar updates.