Shiprocket bets on merchant software ahead of Rs 1,618 crore IPO

The Story in Brief

Shiprocket will open its Rs 1,618 crore initial public offering on 12 August, with shares priced at Rs 92 to Rs 97. The logistics aggregator is increasingly relying on cross-border commerce, checkout, omnichannel and marketing tools, which generated more than a quarter of revenue in FY26 and grew 65% year on year. Core shipping revenue rose 14%.

Shiprocket reported FY26 operating revenue of Rs 2,024 crore and a restated net loss of Rs 79.2 crore, while turning operating cash flow and EBITDA positive. The fresh issue may raise up to Rs 885.5 crore, with existing shareholders offering shares worth up to Rs 731.9 crore. At the upper price band, the company would be valued at about Rs 7,000 crore, below its peak private valuation of Rs 10,000 crore.

The Indian Opinion

The easy story is that Shiprocket has simply outgrown parcel delivery, while the opposing one is that software labels can disguise a still-loss-making logistics business. Both miss the useful test. New services must keep growing faster than shipping and convert that growth into durable cash generation. Investors should track whether the company can repeat its Rs 53 crore operating cash flow without relying on an IPO-funded expansion.

Source: livemint.com

This story was synthesised by AI from the source linked above.

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