Shiprocket DRHP: A Look At Shareholding Pattern & Key Executives

Ecommerce-enablement company Shiprocket is gearing up for its INR 2,342.3 Cr IPO, which will pave the way for partial exits for several of its investors.

The company filed its updated draft red herring prospectus (UDRHP) with SEBI last week. The IPO will comprise a fresh issue of up to INR 1,100 Cr and an OFS of up to INR 1,242.3 Cr.

shiprocket cofounders Gautam Kapoor, Saahil Goel and Vishesh Khurana, along with institutional investors LR India Fund I, Arvind Ltd, Tribe Capital III, MCP3 SPV LLC, and Bertelsmann Nederland B.V., will offload shares via the OFS component of the public offering. 

Notably, Bertelsmann is the largest shareholder in the company with a 21.32% stake. 

California-based Tribe Capital Management holds a 14.14% stake in Shiprocket via Tribe Capital III, LLC – Series 5 and Tribe Capital III, LLC – Series 1. 

Zomato-parent Eternal owns a 6.85% stake in the company. Early stage-focussed KDT Ventures owns 5.49% stake and Temasek’s MacRitchie Investments holds 5.29% in Shiprocket. 

Cofounders Goel and Kapoor own 4.84% stake each, while Khurana has a 1.01% stake in the company. 

Shiprocket filed its confidential DRHP with SEBI in May and received the market regulator’s nod to float the IPO in November. 

The company plans to use INR 505 Cr from the IPO proceeds for investments in its platforms, primarily for the emerging business and its core business. Of this, INR 294 Cr will be deployed for marketing initiatives and INR 211 Cr will be set aside for strengthening technology infrastructure.

It plans to use INR 210 Cr for debt repayment, while the remaining proceeds will go towards funding inorganic growth through unidentified acquisitions and general corporate purposes.

Founded in 2017 by Kapoor, Goel, Khurana and Akshay Ghulati, Shiprocket is a third-party logistics service provider that works with 17 courier partners such as Delhivery, FedEx, Aramex, Xpressbees, DTDC, Shadowfax, among others.

Over the years, Shiprocket expanded beyond logistics into areas like cross-border shipping, payments, marketing tools, omnichannel commerce and credit for sellers.

On the financial front, the company managed to narrow its net loss by 88% to INR 74.5 Cr in FY25 from INR 595.2 Cr in the previous year. Its operating revenue grew 24% to INR 1,632 Cr from INR 1,316 Cr in FY24. 

In the first six months of FY26, Shiprocket’s net loss reduced 9.5% to INR 38.3 Cr from INR 42.3 Cr in the year-ago period. Operating revenue rose 15.4% to INR 942.7 Cr from INR 817 Cr in H1 FY25.

Now, let’s take a look at Shiprocket’s board of directors and the key executives running the show. top deck of the company: 

Board Of Directors

Saahil Goel

Cofounder Goel is the MD and CEO of Shiprocket. Previously, he was associated with Max New York Life Insurance and SDLC Partners. 

Gautam Kapoor

Cofounder Kapoor is the executive director and COO of the logistics company. He is responsible for managing the company’s day-to-day operations, streamlining processes, driving operational efficiency and ensuring effective execution of strategic initiatives. 

Arjun Sethi

Sethi is a non-executive director of Shiprocket. Previously, he was associated with Foundation Robotics, Kapital, Termina Systems Incorporation, Payward Operations LLC, Social+Capital Partnership LLC, Lolapps Incorporation, Yahoo Incorporation and Tribe Capital Management, LLC. Sethi has over 15 years of professional experience. 

Chetan Kumar Mathur

Mathur, a member of the Institute of Chartered Accountants of India (ICAI), is an independent director on the board. He was previously associated with Nagarjuna Fertilisers and Chemicals Limited, SCV & Co. LLP, Valueonshore Advisors, PepsiCo India Holdings, and Mahindra HZPC. 

Kaushik Dutta

Dutta is an independent director and also a member of the ICAI. He is the cofounder of Thought Arbitrage Research Institute, and was previously associated with Price Waterhouse & Co., Chartered Accountants LLP and Lovelock & Lewes. 

Vani Gupta Dandia

Dandia is an independent director on the board of the logistics company. She is currently associated with Cherry Peach Plum Growth Partners and was previously associated with international and consumer brands like PepsiCo, Unilever, Reckitt, Henkel Spic India Limited, and RK Swamy. 

Brijesh Kumar Agrawal

Agrawal is an independent director. He was previously associated with H N Miebach Logistics India and has over 29 years of experience. He is currently associated with B2B ecommerce platform IndiaMart InterMESH. 

Key Managerial Personnel

Kumar Tanmay

CFO Tanmay has been associated with Shiprocket since 2021. Prior to his stint with Shiprocket, he was associated with Spencer’s Retail, Burger King India, Yum! Restaurants, and PepsiCo. Tanmay brings over 24 years of experience to Shiprocket’s C-Suite. 

At Shiprocket, he is responsible for overseeing its financial strategy and planning, managing legal and compliance matters, driving corporate development initiatives, leading fundraising activities and optimising working capital management and investment returns. 

During FY25, he received a remuneration of INR 2.28 Cr which includes INR 13.6 Lakh accrued and payable from fiscal 2024.

Deepa Kapoor

Company secretary and compliance officer Kapport has been associated with Shiprocket since August 2023. She was previously associated with Bharti Enterprises and Girnarsoft Software with a total experience of more than a decade. 

She joined Shiprocket in 2022, as the ‘Director of Finance’. In her current role, she is responsible for handling all corporate law compliances and ensuring implementation of corporate governance practices of our Company. During FY25, she received a remuneration of INR 49 Lakh which includes 44 Lakh accrued and payable from FY24. 

Akshay Ghulati

Ghulati, who is the CEO — international shipping of Shiprocket, has been with the company since 2016. He joined Shiprocket as a CBO and was elevated to the position of cofounder and COO in 2020. He took up his current role in April 2024. 

He is currently responsible for overseeing the international shipping operations, including strategy, business growth, market expansion and stakeholder engagement. During FY25, he received a remuneration of INR 3.03 Cr, which includes INR 1.5 Cr accrued and payable from FY24. 

Prior to his stint with Shiprocket, the Harvard Business School alumnus was associated with Amazon UK Services, Smile Online Sales Services, and The Parthenon Group, London. 

Atul Mehta

Mehta currently helms domestic shipping for Shiprocket as the vertical’s CEO. An IIT and IIM alum, Mehta joined Shiprocket in 2021 as a COO. He was elevated to his role in April 2024.

In his current role, he is responsible for managing the company’s shipping business for its growth, market expansion and operations. During FY25, he received a remuneration of INR 1.8 Cr which includes INR 30 Lakh accrued and payable from FY24.

Praful Poddar

CPO Poddar has been with Shiprocket since 2023. An IIM alumnus, he joined Shiprocket in 2021 as a senior vice president. Prior to joining Shiprocket, he was associated with Jasper Infotech, Olx Indian and MakeMyTrip. 

At Shiprocket, he is responsible for executing its product vision and driving innovation for enhancing customer-centric solutions and aligning product strategies to support the company’s overall business growth. During FY25, he received a remuneration of INR 1.6 Cr, which includes INR 25 Lakh accrued and payable from FY24. 

Gaurav Mangla

Mangla is the CEO of checkout and advertisements of Shiprocket’s subsidiary Pickrr. Previously, he was associated with iRunway India and Zobtree Ventures. 

Currently, he manages Pickrr’s checkout business and is responsible for its growth, market expansion, and operation. During FY25, he received a remuneration of INR 1.68 Cr, which includes INR 25 Lakh accrued and payable from fiscal 2024 from Pickrr. 

Sunil Kumar

CTO Kumar has been with the company since 2019. The IIT alumnus is responsible for executing Shiprocket’s tech strategy and oversees the company’s platform and tech architecture to ensure alignment with the business objective. 

Prior to joining the company, he was associated with EazyDiner, Times Business Solutions, Reliance Entertainment Digital, Apnapaisa, BIGFlics, Rediff.com, Mastiff Technology, Qualtech Consultants, Oracle Software India and Talisma Corporation. 

For FY25, he received a remuneration of INR 1.7 Cr, which includes INR 30 Lakh accrued and payable from fiscal 2024. 

Saumya Khati

Group CHRO Khati helms the people function of the IPO-bound company. She joined the company in 2021 as a SVP, HR, and was later promoted to the position of group CHRO in 2023. 

Prior to joining Shiprocket, she held various people function roles with companies like CocaCola, GAP, Yum! Restaurants (India), among others.

During FY25, she received a remuneration of INR 1.15 Cr which includes INR 13 Lakh accrued and payable from FY24.