Temasek-backed Shiprocket takes off with US$1 billion valuation after strong India debut
This comes as investors bet on the logistics services firm’s tech-led approach to capitalise on the rapidly growing e-commerce ecosystem
Temasek-backed Shiprocket soared 48.6% in its debut trade on August 19th, valuing the logistics services firm at 100.1 billion rupees (US$1.05 billion). Investors were optimistic about Shiprocket's tech-led strategy to capitalize on India's burgeoning e-commerce sector. The company's shares traded at 142 rupees, surpassing the issue price of 97 rupees each.
According to analysts, India's online retail gross merchandise value is projected to expand at a compounded annual rate of 20 to 25% between 2025 and 2030, fueled by increasing internet usage, growing digital payments adoption, and heightened demand from consumers in smaller cities and towns. Shiprocket competes with Delhivery and Blue Dart Express, providing an asset-light, technology-driven logistics platform for managing shipping, fulfillment, payments, and other online commerce operations.
The company's IPO is among India's largest technology listings this year, and it is the third Temasek-backed company to go public in August. Shiprocket intends to utilize IPO proceeds for investments in technology, product development, acquisitions, expanding its fulfillment and logistics network, and general corporate purposes.
Written by urgent.news from The Business Times - Companies & Markets's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
