Now Reading: Shiprocket lists at 35% premium, market cap crosses Rs 10,000 crore
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Shiprocket lists at 35% premium, market cap crosses Rs 10,000 crore
Shiprocket lists at 35% premium, market cap crosses Rs 10,000 crore
Shiprocket made a strong stock market debut last week, opening at Rs 131 on the NSE, 35.1% above its Rs 97 issue price, and closed its first week at Rs 140. Its…
Shiprocket made a strong stock market debut last week, opening at Rs 131 on the NSE, 35.1% above its Rs 97 issue price, and closed its first week at Rs 140. Its market capitalisation on the BSE now stands at Rs 10,230 crore, though this is about 30% lower than the nearly Rs 10,000 crore valuation it commanded in its last private funding round in December 2024.
The company is the third new-age logistics tech startup to go public after Delhivery and Shadowfax. Its IPO set a price band of Rs 92, 97 per share, valuing it at around Rs 7,000 crore at the upper end. Shiprocket describes itself as an end-to-end ecommerce enablement platform for MSMEs and large retailers, operating in two segments: core domestic shipping and emerging businesses including cargo, fulfilment, cross-border shipping, fintech and hyperlocal delivery.
The core business generated Rs 1,485 crore in revenue in FY26, 73.4% of total revenue, with an adjusted EBITDA margin of 12.56%. The platform serves over 2.14 lakh active merchants who processed 202.08 million transactions in FY26. However, the emerging business posted an adjusted EBITDA loss of roughly Rs 169 crore in FY26.
Indian Opinion Analysis
Shiprocket's listing comes as Indian logistics stocks have more than doubled in aggregate market cap over three years, driven by ecommerce's share of retail sales crossing 7%. The company's ₹10,230 crore valuation after listing still trails Delhivery's ₹22,000 crore, but its 107.8% net revenue retention signals that merchants who adopt multiple products, checkout, payments, fulfilment, generate rising revenue per user. The real test is whether the emerging business, which posted a ₹169 crore adjusted EBITDA loss in FY26, can achieve the same margin trajectory as the core shipping segment did over three years, from 6.65% to 12.56%. With 80-plus logistics stocks already listed, investors will watch Shiprocket's next quarterly disclosure for whether cross-border and fintech revenues narrow that loss.
Source: inc42.com
This story was synthesised by AI from the source linked above.
