New Delhi, August 14, 2026 (Yes Punjab News)
IPO-bound e-commerce logistics platform Shiprocket has disclosed several pending criminal and tax-related proceedings involving the company and its subsidiaries in its Draft Red Herring Prospectus (DRHP), highlighting legal matters that could draw investor scrutiny.
According to the offer document, Shiprocket is facing four criminal cases involving claims of Rs 5.39 crore, in addition to two other criminal proceedings and seven tax-related matters. Its subsidiaries face another criminal case and three tax proceedings involving claims totalling Rs 2.34 crore.
A separate criminal case filed in 2022 names Shiprocket co-founders Saahil Goel and Gautam Kapoor, director Arjun Sethi and Chief Financial Officer Kumar Tanmay. The case involves allegations including cheating, criminal breach of trust, forgery and criminal conspiracy, and remains pending before the courts.
The DRHP also details the company’s financial performance. Shiprocket reported a net loss of Rs 79.2 crore in FY26, compared with Rs 74.4 crore in FY25. While the loss widened marginally, it was substantially lower than the Rs 595.1 crore loss reported in FY24.
Revenue from operations increased 24 per cent year-on-year to Rs 2,024.1 crore in FY26, maintaining the same growth rate recorded in FY25.
Despite the revenue growth, profitability remains a challenge. Shiprocket said investments aimed at expanding its merchant base, developing new products, strengthening artificial intelligence capabilities and scaling emerging businesses could continue to affect earnings in the near term.
The company also relies significantly on third-party service providers. Merchant solution costs accounted for nearly 69.4 per cent of total expenses in FY26, while its top 10 vendors accounted for more than 55 per cent of those costs.
Shiprocket said its lack of exclusive arrangements with logistics partners exposes it to risks including increased operating costs, service disruptions and the possibility of partners giving preference to competing platforms.
The company also faces strong competition from e-commerce marketplaces, logistics companies and technology aggregators. At the same time, it is expanding its cross-border business, which offers growth opportunities but carries execution and scaling risks.
Shiprocket’s IPO is scheduled to open for subscription on August 12 and close on August 14, with the anchor investor portion opening on August 11.
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