Shiprocket Files Updated DRHP with Sebi for ₹2,342 Crore IPO. Check Details

Shiprocket, the e-commerce platform backed by Temasek, has refiled its draft prospectus with SEBI, the market regulator, to raise ₹2,342 crore through an initial public offering (IPO).

The IPO will consist of a fresh issue of shares worth up to ₹1,100 crore, along with an offer for sale (OFS) of ₹1,242.3 crore by existing shareholders, according to the updated draft red herring prospectus (UDRHP).

Several investors will be diluting their stakes through the OFS, including Lightrock, Tribe Capital, Bertelsmann, Arvind Ltd, Gautam Kapoor, Saahil Goel, and Vishesh Khurana.

Axis Capital, BofA Securities India, JM Financial, and Kotak Mahindra Capital Company are the lead managers for the IPO. The company intends to list its shares on both the BSE and NSE.

**Use of Funds**

According to the draft papers filed on Friday, Shiprocket plans to use the IPO proceeds to invest in marketing and technology to grow its core and emerging businesses.

The company also intends to use a portion of the funds to repay or prepay certain outstanding debts and related interest. Furthermore, Shiprocket plans to allocate funds for potential acquisitions to drive inorganic growth and for general corporate purposes.

Shiprocket may also consider a pre-IPO placement of up to ₹220 crore, which, if completed, would reduce the size of the fresh issue.

Shiprocket's earlier investors include Temasek and Eternal.