Shiprocket bets on data-driven marketing, plans Rs 294 crore spend over three years

As it prepares for a public listing, India’s logistics and shipping platform Shiprocket has laid out an aggressive investment plan that prioritises marketing and technology, with a growing share of capital earmarked for its newer lines of business.

The company's IPO of Rs 2,342.35 crore, incude a fresh issue of equity shares worth Rs 1,100 crore, while existing shareholders and co-founders will sell shares worth Rs 1,242.35 crore through an offer for sale, according to its draft red herring prospectus,

In the IPO documents, Shiprocket disclosed that it plans to deploy about Rs 294 crore toward marketing initiatives and roughly Rs 211 crore toward strengthening its technology infrastructure and capabilities. Another Rs 210 crore will be used to repay or prepay certain borrowings.

The marketing spend will be phased over three years, with Rs 87.3 crore planned for fiscal 2027, Rs 109 crore in fiscal 2028 and Rs 97.6 crore in fiscal 2029, underscoring Shiprocket’s focus on sustained customer acquisition rather than a one-time blitz.

While Shiprocket’s core domestic shipping business remains its foundation, the sharper growth is coming from what the company calls its “emerging businesses”—including checkout solutions, cross-border shipping and hyperlocal deliveries. Revenue from these businesses rose from Rs 121.2 crore in 2023 to Rs 326 crore in 2025. In the first half of fiscal 2026, emerging businesses contributed Rs 237.7 crore, or just over 25% of total operating revenue of Rs 942.6 crore.

That shift is reflected in how the IPO proceeds will be allocated. Of the Rs 505 crore proposed to be invested in platform growth across businesses, nearly two-thirds will go toward emerging segments. Shiprocket has earmarked Rs 194 crore for marketing its emerging businesses and another Rs 139 crore for technology infrastructure—together accounting for more than 65% of the growth capital allocated to these units. By comparison, the core business will receive Rs 172 crore, including Rs 100 crore for marketing and Rs 719 million for technology upgrades.

Despite the planned step-up, Shiprocket’s historical marketing spend has been relatively modest. Marketing expenses stood at Rs 23.5 crore in 2023, fell to Rs 18.8 crore in 2024 and rose to Rs 21.1 cror in 2025, consistently hovering around 1–1.7% of total expenses. Brand marketing alone accounted for Rs 3.5 crore in 2025, according to the prospectus.

The company says its approach is rooted in performance marketing and analytics rather than broad-based advertising. “Our marketing strategy is predicated on data-driven decision-making and performance optimisation,” Shiprocket said, citing real-time analytics, customer behaviour and macroeconomic conditions as key inputs shaping campaign design.

Shiprocket has also indicated that part of the proceeds will be used to expand its marketing and sales workforce. As of September 30, 2025, the company employed 41 people in marketing, alongside 1,919 personnel in merchant acquisition and 344 in key account management, across both core and emerging businesses.

The company’s earlier acquisition of a majority stake in Swiftlyc (formerly Wigzo)—a marketing automation platform, appears to align with this strategy. Shiprocket acquired 76.65% of Swiftly in December 2021 and raised its stake to 79.26% in early 2023, adding in-house marketing technology to support its growing merchant base.

Together, the planned spending highlights a company betting that technology-led marketing and expanding product offerings, rather than price competition alone, will define the next phase of growth in India’s crowded logistics market.