Cyril Amarchand Mangaldas acted as the Indian legal counsel to Shiprocket Limited (the “Company” or “Shiprocket”) on the initial public offering of its equity shares of face value of INR 10 each of the Company (“Equity Shares”), aggregating to INR 16,174.85 million (“Offer”).
The Offer comprised a fresh issue of Equity Shares aggregating to INR 8,855.00 million (“Fresh Issue”) and an offer for sale of 75,462,363 Equity Shares aggregating to INR 7,319.85 million (“Offer for Sale”) by certain selling shareholders, including LR India Fund I S.a.r.l. SICAV-RAIF, Tribe Capital III, LLC – Series 1, MCP3 SPV LLC, Moore Strategic Ventures, LLC, Agility International Investment L.L.C., 500 Startups III, L.P., Saahil Goel, Gautam Kapoor and Vishesh Khurana (“Selling Shareholders”).
The book running lead managers to the Offer were Axis Capital Limited, BofA Securities India Limited, JM Financial Limited, and Kotak Mahindra Capital Company Limited (“BRLMs”).
The Equity Shares offered pursuant to the Offer were priced at INR 97 per Equity Share (with a discount of INR 9 per Equity Share to eligible employees bidding in the employee reservation portion) and comprised a reservation of 113,636 Equity Shares aggregating to INR 10.00 million for subscription by eligible employees of the Company.
The Offer was oversubscribed 102.28 times.
The Equity Shares have been listed on BSE and NSE (“Stock Exchanges”) on August 19, 2026.
CAM also advised Saahil Goel, Gautam Kapoor and Vishesh Khurana (“Individual Selling Shareholders”) on their participation in the Offer for Sale component of the Offer.
The transaction team which advised the Company included Yash J. Ashar, Senior Partner, and Aashima Johur, Partner; with assistance from Mihir Mathur, Principal Associate; Rishi Nandkeolyar, Senior Associate; and Kanika Bhakhna, Abhinav Singh Chauhan and Shvabh Chakarwarti, Associates.
The team advising Individual Selling Shareholders comprised Vishal Yaduvanshi, Partner (Regional Co-Head – Capital Markets – North), Amitpal Singh, Partner; and Ritvik Maheswari, Associate.
Bharath Reddy, Partner; with assistance from Aarav Prasad, Associate; assisted in drafting the ESOP scheme of the Company and related advisory.
