Investors who participated in the Shiprocket Initial Public Offering (IPO) are awaiting the finalization of share allotments, expected today, Monday, August 17. The Gurugram-based e-commerce enablement company, which concluded its bidding period on August 14, saw an overwhelming response from various investor categories.
The IPO, which offered shares in the price band of Rs 92-97 apiece, aimed to raise Rs 1,617 crore. This included a fresh issue of Rs 885 crore and an offer-for-sale (OFS) of shares worth Rs 732 crore. The issue was significantly oversubscribed, registering a total subscription of 99.38 times across more than 47.91 lakh applications.
Key Dates and Allotment Probabilities
Following the expected allotment on August 17, successful bidders should anticipate debit messages or emails for their funds by Tuesday, August 18. Refunds for non-allotted applications are also scheduled for August 18. Shiprocket shares are slated for listing on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on Wednesday, August 19.
The subscription breakdown revealed strong demand:
- Qualified Institutional Bidders (QIBs): Subscribed 122.80 times
- Non-Institutional Investors (NIIs): Subscribed 88.99 times
- Retail Bidders: Subscribed 46.42 times
- Employee Portion: Subscribed 55.51 times
Based on the bidding, the approximate allotment probabilities were: 1 in 21 for big HNI investors (238 shares), 1 in 65 for small HNI investors (238 shares), and 1 in 36 for retail investors (154 shares).
Grey Market Premium (GMP) Update
The Grey Market Premium (GMP) for Shiprocket has shown a recovery, currently trading at Rs 32-34 per share. This suggests a potential listing gain of 33-35 percent for investors. On the final day of bidding, the GMP stood at approximately Rs 37 per share.
How to Check Shiprocket IPO Allotment Status
Investors can verify their allotment status through the official websites of BSE, NSE, or the IPO's registrar, KFin Technologies Ltd.
Checking on BSE Website:
- Visit the official BSE website: bseindia.com
- Under 'Issue Type,' select 'Equity.'
- From the 'Issue Name' dropdown, choose 'Shiprocket Limited.'
- Enter your application number.
- Input your PAN card ID.
- Complete the 'I am not a Robot' captcha and click 'Search.'
Checking on NSE Website:
- Go to the NSE website: nseindia.com
- Select 'Equity & SME IPO Bid details.'
- Under 'Select Symbol,' choose 'SHIPROCKET.'
- Enter your PAN Number and Application Number.
- Click 'Submit' to view your status.
Checking via KFin Technologies (Registrar) Website:
- Navigate to the KFin Technologies portal: kosmic.kfintech.com/ipostatus
- Select the Shiprocket IPO from the dropdown menu (this option will appear once allotment is finalized).
- Choose one of the following modes: Application Number, Demat Account Number, or PAN ID.
- Select your application type (ASBA or non-ASBA).
- Enter the details corresponding to your chosen mode.
- Fill in the security captcha accurately.
- Click 'Submit.'
Shiprocket, established in 2011, is a prominent Indian e-commerce enablement company, providing technology-driven logistics solutions to MSMEs, D2C brands, and large retailers. The book running lead managers for the IPO were Axis Capital, Kotak Mahindra Capital, JM Financial Ltd, and BofA Securities India, with KFin Technologies Ltd serving as the official registrar for the issue.