Temasek and Zomato-backed Shiprocket has received approval from the Securities and Exchange Board of India (SEBI) to launch its ₹2,400 crore initial public offering (IPO).

The company plans to raise the amount through a mix of fresh issue and offer for sale, split evenly between the two.

Notably, marquee investors Temasek, Zomato, and Info Edge will not dilute their holdings in this issue. The offer for sale will be made solely by early investors and the company's founders.

Shiprocket had filed confidential draft papers with SEBI in May this year. Proceeds from the IPO will be used for product development, technology upgrades, acquisitions, and to expand logistics and warehousing capabilities.

The e-commerce enablement platform said its emerging businesses are growing rapidly as it loo

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