Shiprocket Slashes IPO Size by 31% to ₹1,617 Cr for August Launch
By ThePip Desk
E-commerce platform Shiprocket reduces its IPO size by 31% to ₹1,617.6 crore. The public issue opens August 12-14 with shares priced at ₹92-97.
E-commerce enablement platform Shiprocket has reduced its Initial Public Offering (IPO) size by 31%, trimming it from Rs 2,342 crore to Rs 1,617.6 crore.
The public issue is set to open for subscription from August 12 to August 14, with a price band of Rs 92-97 per share. At the upper end, the company seeks a valuation of approximately Rs 7,057 crore ($743 million).
The fresh issue component has been cut to Rs 885 crore from Rs 1,100 crore, while the offer for sale is now Rs 732 crore, down from Rs 1,242 crore.
Funds from the fresh issue are earmarked for platform expansion, technology infrastructure, sales and marketing initiatives, debt repayment, strategic investments, and general corporate purposes.
Cresa’s Biodegradable Innovation
Cresa has launched hot-water-soluble sanitary pads, designed to be 100% biodegradable and plastic-free.
These plant-based pads dissolve in just 80 seconds, addressing critical issues in waste disposal and menstruation stigma, and supporting sanitation worker dignity.
Unlike conventional sanitary pads, which are almost 90% plastic, every layer of Cresa’s product, including the absorbent material, is plant-based and starch-derived.
Deeptech Funding & Infrastructure
India’s deeptech sector is experiencing a funding surge, with climate-tech company Mitti Labs securing $9.5 million in Series A funding led by Aramco Ventures.
Solinas Integrity also raised $5.5 million in Series A1 funding, contributing to the sector’s growth.
Mumbai-based Piper Serica has successfully raised Rs 300 crore for its Rs 800-crore Bharat Tech Fund, targeting startups in semiconductors, defense, spacetech, robotics, biosciences, and advanced electronics.
In global data center capacity, Mumbai ranks 15th, with Hyderabad following at 27th, according to Knight Frank’s Global Data Centre Atlas 2026.
Food delivery and quick commerce platform Swiggy aims for an adjusted EBITDA of approximately Rs 10,000 crore by FY31.
Other developments include environmental concerns over Google’s Visakhapatnam data center, cybersecurity issues with AI models from Meta, OpenAI, and Anthropic, and a leadership change at Alphabet moving AI chief Demis Hassabis to chief scientist.