Private Markets, Angel and Secondary Investing, Sacra

Sacra

Private Markets, Angel and Secondary Investing

Bringing transparency to private markets so investors, founders, and employees can build on conviction. Sacra delivers deeply researched insights on the private companies shaping tomorrow's markets. By surfacing the data, context, and operator perspective that are missing from private markets today, we help secondary buyers and sellers price equity accurately and unlock liquidity for the people building these businesses.

Private Capital Markets

<ul><li>Sacra estimates Shiprocket hit $205M in revenue in 2024, growing 21% year-over-year from $170M in 2023.</li><li>Shiprocket achieved operational profitability on a cash basis in early FY25, with cash EBITDA burn reducing by 48% from Rs 191 crore in FY23 to Rs 100 crore in FY24.</li><li>Looking ahead, Shiprocket is targeting a $500M revenue run rate by the end of 2025, driven by expansion in fulfillment services, cross-border shipping, and checkout solutions.</li></ul>

Sacra estimates Shiprocket hit $205M in revenue in 2024, growing 21% year-over-year from $170M in 2023.Shiprocket achieved operational profitability on a cash basis in early FY25, with cash EBITDA burn reducing by 48% from Rs 191 crore in FY23 to Rs 100 crore in FY24.Looking ahead, Shiprocket is targeting a $500M revenue run rate by the end of 2025, driven by expansion in fulfillment services, cross-border shipping, and checkout solutions.

APAC IPOs & Placements, Aequitas Research

Sharan Shankarnarayan

APAC IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/shiprocket-ltd" target="_blank" data-smartkarma-citation="entities:46243:1" rel="noopener">Shiprocket (1087190D IN)</a> is looking to raise about US$253m in its upcoming India IPO. It is a technology platform helping small-medium businesses and large retailers in India carry e-commerce transactions.</li>
<li>It supports merchants by simplifying key processes such as logistics, checkout, payments, order fulfilment, and cross-border trade, allowing them to sell both online and offline efficiently and at scale.</li>
<li>In this note, we talk about the company’s historical performance.</li>
</ul>



Shiprocket (1087190D IN) is looking to raise about US$253m in its upcoming India IPO. It is a technology platform helping small-medium businesses and large retailers in India carry e-commerce transactions.
It supports merchants by simplifying key processes such as logistics, checkout, payments, order fulfilment, and cross-border trade, allowing them to sell both online and offline efficiently and at scale.
In this note, we talk about the company’s historical performance.


Aequitas: Shiprocket Pre-IPO- Business Expansion Through Targeted Acquisitions

Kajal Jain

<ul>
<li>
<a href="https://www.smartkarma.com/entities/shiprocket-ltd" target="_blank" data-smartkarma-citation="entities:46243:1" rel="noopener">Shiprocket Ltd (1087190D IN)</a> plans to raise around US$253m in its upcoming India IPO. The deal will be run by Axis, BofA, JM Fin and Kotak.</li>
<li>Shiprocket is a technology platform enabling small and medium businesses in India to sell online through their own websites, mobile apps, and social media channels efficiently.</li>
<li>According to the Redseer report, Shiprocket was the largest new-age end-to-end horizontal e-commerce enablement platform in terms of revenue in FY25.</li>
</ul>



Shiprocket Ltd (1087190D IN) plans to raise around US$253m in its upcoming India IPO. The deal will be run by Axis, BofA, JM Fin and Kotak.
Shiprocket is a technology platform enabling small and medium businesses in India to sell online through their own websites, mobile apps, and social media channels efficiently.
According to the Redseer report, Shiprocket was the largest new-age end-to-end horizontal e-commerce enablement platform in terms of revenue in FY25.


Aequitas: Shiprocket Limited Pre-IPO Tearsheet

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

<ul>
<li>Aequitas Research's weekly update on the IPOs, placements, lockup expiry and other ECM linked events that were covered by the team over the past week.</li>
<li>On the IPO front, <a href="https://www.smartkarma.com/entities/fractal-analytics-ltd" target="_blank" data-smartkarma-citation="entities:45676:1" rel="noopener">Fractal Analytics </a>didn't do much at listing. </li>
<li>On the placement front, it was a quiet week given the CNY holidays.</li>
</ul>


Aequitas Research's weekly update on the IPOs, placements, lockup expiry and other ECM linked events that were covered by the team over the past week.
On the IPO front, Fractal Analytics didn't do much at listing. 
On the placement front, it was a quiet week given the CNY holidays.


Aequitas ECM Weekly (23 February 2026)- Nexchip, MeiG, Indo-Mim, Shiprocket, Contact Energy

<ul>
<li>Aequitas Research's weekly update on the IPOs, placements, lockup expiry and other ECM linked events that were covered by the team over the past week.</li>
<li>On the IPO front, the market didn't appear to be in a mood to for a customary slowdown at the start of the year.</li>
<li>On the placements front, issuers and shareholders have started the new year with a bang, with deals launched across regions.</li>
</ul>


Aequitas Research's weekly update on the IPOs, placements, lockup expiry and other ECM linked events that were covered by the team over the past week.
On the IPO front, the market didn't appear to be in a mood to for a customary slowdown at the start of the year.
On the placements front, issuers and shareholders have started the new year with a bang, with deals launched across regions.


Aequitas: ECM Weekly (12 January 2026) - Biren, MiniMax, Gigadevice, Omnivision, Busy Ming, HPSP, GF

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Shiprocket (1087190D IN)

Primer: Shiprocket - 25 May 2026

Shipping and fulfillment software for Indian D2C brands and SMB ecommerce merchants

Sacra

Aequitas: Shiprocket Pre-IPO- Business Expansion Through Targeted Acquisitions

Shiprocket Ltd is looking to raise about US$253m in its upcoming India IPO. In this note, we talk about the company’s historical performance.

Sharan Shankarnarayan

Aequitas: Shiprocket Limited Pre-IPO Tearsheet

Shiprocket Limited plans to raise around US$253m in its upcoming India IPO. The deal will be run by Axis, BofA, JM Fin and Kotak.

Kajal Jain

Aequitas ECM Weekly (23 February 2026)- Nexchip, MeiG, Indo-Mim, Shiprocket, Contact Energy

Aequitas Research's weekly update on the IPOs, placements, lockup expiry and other ECM linked events that were covered by the team over the past week.

Sumeet Singh

Aequitas: ECM Weekly (12 January 2026) - Biren, MiniMax, Gigadevice, Omnivision, Busy Ming, HPSP, GF

Aequitas Research's weekly update on the IPOs, placements, lockup expiry and other ECM linked events that were covered by the team over the past week.

Sumeet Singh

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)