New Delhi, Dec 13 (PTI) Temasek-backed e-commerce enablement platform Shiprocket has filed up to date draft papers with markets regulator Sebi to boost a bit over Rs 2,342 crore via its preliminary public providing (IPO).
The IPO is a mixture of a recent situation of fairness shares aggregating as much as Rs 1,100 crore together with a suggestion on the market of Rs 1,242.3 crore by the promoting shareholders, in line with the up to date draft purple herring prospectus (UDRHP).
As a part of the OFS, Lightrock, Tribe Capital, Bertelsmann, Arvind Ltd, Gautam Kapoor, Saahil Goel, and Vishesh Khurana can be diluting their stakes.
Going by the papers filed on Friday, the corporate plans to make use of the proceeds to help the expansion of Shiprocket’s platforms by investing in advertising and marketing initiatives and strengthening its expertise infrastructure for each its core and rising companies.
Additionally, a portion of the funds can be used to repay or prepay sure borrowings, together with the associated curiosity. As well as, the corporate intends to deploy a part of the proceeds in the direction of inorganic progress via potential acquisitions and for common company functions.
Shiprocket could pursue a pre-IPO placement of as much as Rs 220 crore, which, if undertaken, would accordingly regulate the recent situation dimension.
Backed by marquee traders like Temasek and Zomato, Shiprocket developed from a transport supplier to a full-stack e-commerce enabler for direct-to-consumer (D2C) manufacturers and MSMEs.
Shiprocket had filed its draft IPO papers with Sebi via the confidential submitting route in Could and subsequently obtained approval in November to launch the general public situation. Following this approval, it was required to submit up to date paperwork.
The corporate operates via two segments– Core Enterprise and Rising Enterprise. The core enterprise consists of its home transport platform and transport apps, which offer end-to-end transport options in India, together with multi-modal transport, AI-based logistics allocation, order administration and monitoring instruments.
The rising enterprise focuses on newer choices similar to cargo and fulfilment companies, cross-border transport, adverts and advertising and marketing options, capital options and hyperlocal deliveries, aimed toward serving to retailers develop and scale their operations.
The corporate operates on an asset-light enterprise mannequin with a scalable expertise platform on the core of its enterprise, supplemented by an in depth community of ecosystem companions.
Axis Capital, BofA Securities India, JM Monetary and Kotak Mahindra Capital Firm are the book-running lead managers to the general public providing.
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