Shiprocket

** BofA initiates coverage of India's Shiprocket SIPO.NS with "neutral" rating and PT of 145 rupees, implying ~21% upside from Friday's close for the e-commerce enablement platform

** Brokerage sees strong growth potential from India's direct-to-consumer and small-business markets, but says SIPO's current valuation already reflects much of the upside

** Flags continued losses in co's emerging businesses as key downside risk; expects segment to reach adjusted EBITDA breakeven only in FY29

** Sees co turning profitable in FY28 with adjusted net income of 1.72 billion rupees ($17.93 million), rising to 3.68 bln rupees in FY29

** Shares of SIPO down 1.36% at 118.62 rupees; stock has fallen ~9.5% since August 19 listing

($1 = 95.9100 Indian rupees)

(Reporting by Surbhi Misra in Bengaluru)

(([email protected] | X: https://twitter.com/SurbhiMisra_ |;))

** Shares of India's Shiprocket SIPO.NS rises 2.8% to 138.40 rupees

** Temasek-backed logistics firm posted Q1 consolidated loss of 137.1 million rupees ($1.45 million), narrowing from a loss of 180.3 million rupees a year earlier

** Co's first quarter consolidated revenue rose about 34% year-on-year to 5.92 billion rupees

** This marks firm's first earnings since listing on Aug 19

** Shiprocket was among India's largest tech listings this year and came at a time of revival in primary market activity

** Stock is up 7.06% since debut

($1 = 94.6000 Indian rupees)

(Reporting by Surbhi Misra in Bengaluru)

(([email protected] | X: https://twitter.com/SurbhiMisra_ |;))

Sept 7 (Reuters) - Shiprocket Ltd SIPO.NS:

• JUNE-QUARTER CONSOL LOSS 137.1 MILLION RUPEES

• JUNE-QUARTER CONSOL REVENUE FROM OPERATIONS 5.92 BILLION RUPEES

Further company coverage: SIPO.NS

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Aug 19 (Reuters) - Temasek-backed e-commerce logistics services firm Shiprocket SIPO.NS jumped 35.1% in debut trade on Wednesday, after robust investor response to its $170 million initial public offering last week.

Its shares listed at 131 rupees on the National Stock Exchange of India, compared with an issue price of 97 rupees per share.

(Reporting by Urvi Dugar and Vivek Kumar M in Bengaluru; Editing by Janane Venkatraman)

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