Shiprocket IPO: 500 Global Hits 77.6X Return, Two Investors Exit At Loss

Ecommerce enabler Shiprocket’s IPO has produced sharply divergent outcomes for its investors, with returns on the shares sold through the OFS component ranging from 0.6X to 77.6X. 

One of Shiprocket’s earliest backers, 500 Global, offered its entire holding for ₹16.3 Cr through the OFS. At the upper end of the IPO price band of ₹92 to ₹97, this was equivalent to about 16.8 Lakh shares and translated into a gross return multiple of 77.6X over its weighted average acquisition cost of ₹1.25 per share. 

Shiprocket’s public issue comprised a fresh issue of shares worth up to ₹885.5 Cr and an OFS of up to ₹732 Cr. The IPO was subscribed 99.38X, with investors bidding for 938.53 Cr shares against 9.44 Cr shares on offer. 

The company’s shares are scheduled to start trading on the stock exchanges tomorrow.

Lightrock offered its entire holding for ₹271.7 Cr through the OFS, equivalent to about 2.8 Cr shares at ₹97 per share. With a weighted average acquisition cost of ₹133.94 per share, it realised only 0.7X its investment and exited at a loss. 

Tribe Capital sold shares worth ₹120 Cr through the OFS, equivalent to about 1.2 Cr shares. The sale translated into a return multiple of 7.6X. It will continue to hold shares worth around ₹274.3 Cr at ₹97 apiece. 

March Capital, through MCP3 SPV LLC, sold shares worth ₹55.5 Cr, equivalent to about 57.2 Lakh shares. It clocked a return multiple of 2.1X on the shares sold. MCP3 SPV LLC retains shares valued at around ₹222.1 Cr. 

Moore Strategic Ventures sold shares worth ₹51.4 Cr through the OFS, equivalent to about 52.9 Lakh shares. The sale translated into a return multiple of just 0.7X, implying a loss. It exited its entire holding. 

Agility International Investment sold its entire holding for ₹21.1 Cr, equivalent to about 21.8 Lakh shares. The investor clocked a return multiple of 2.6X. 

Shiprocket Cofounders Pocket ₹142 Cr

Shiprocket’s three cofounders also sold part of their holdings through the OFS and collectively received ₹142 Cr. 

Gautam Kapoor and Saahil Goel sold shares worth ₹61 Cr each, equivalent to about 62.9 Lakh shares apiece. After the sale, each of them retains shares valued at around ₹238 Cr at ₹97 per share. 

Vishesh Khurana sold shares worth ₹20 Cr, equivalent to approximately 20.6 Lakh shares. His remaining holding is valued at around ₹41.1 Cr. 

Founded in 2011 by Goel, Kapoor, and Khurana, Shiprocket operates an ecommerce enablement platform that helps small businesses, retail brands, D2C merchants, and social commerce retailers manage, and scale their operations. 

Its offerings span shipping and fulfilment, analytics, marketing automation, and personalisation. The company also facilitates financing arrangements between merchants and NBFCs or other lending partners. 

In FY26, Shiprocket’s operating revenue rose 24% to ₹2,024.1 Cr from ₹1,632 Cr in the previous year. However, loss widened 7% to ₹79.2 Cr from ₹74.4 Cr in FY25.

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