Shiprocket files updated IPO papers, eyes Rs 2,342 cr issue

Temasek-backed e-commerce enablement platform Shiprocket has filed updated draft papers with markets regulator Sebi to raise a little over Rs 2,342 crore through its initial public offering (IPO).

- CORRESPONDENT

The IPO is a combination of a fresh issue of equity shares aggregating up to Rs 1,100 crore along with an offer for sale of Rs 1,242.3 crore by the selling shareholders, according to the updated draft red herring prospectus (UDRHP).

As part of the OFS, Lightrock, Tribe Capital, Bertelsmann, Arvind Ltd, Gautam Kapoor, Saahil Goel, and Vishesh Khurana will be diluting their stakes.

Going by the papers filed on Friday, the company plans to use the proceeds to support the growth of Shiprocket's platforms by investing in marketing initiatives and strengthening its technology infrastructure for both its core and emerging businesses.