Shiprocket IPO Sees Overwhelming Investor Demand
Gurugram-based e-commerce shipping and logistics platform Shiprocket witnessed an exceptional response to its Initial Public Offering (IPO), which closed on Friday, August 14. The issue was subscribed a remarkable 99.38 times, attracting bids worth an estimated ₹9,103.6 crore against its target of ₹1,617 crore.
The IPO, which was open for subscription from August 12 to August 14, garnered bids for 9,38,51,66,560 equity shares, significantly surpassing the 9,44,36,030 shares initially on offer.
Strong Interest Across All Investor Categories
Demand was robust across all investor segments:
- Qualified Institutional Buyers (QIBs): Led the charge with their portion subscribed 122.80 times.
- Non-Institutional Investors (NIIs): Showed strong interest, subscribing 88.99 times their allocated portion.
- Retail Investors: Participated actively, with their segment subscribed 46.42 times.
- Employee Reserved Portion: Also saw significant uptake, subscribed 55.51 times.
IPO Details and Future Listing
The IPO was priced in a band of ₹92-97 per share. It comprised a fresh issue of shares valued at ₹885.5 crore and an Offer For Sale (OFS) of ₹732 crore by existing shareholders. Prior to the public subscription, Shiprocket successfully raised ₹727.41 crore from 50 anchor investors, including prominent names like Nomura, Ashoka WhiteOak, Goldman Sachs, and Societe Generale, who were allotted equity shares at ₹97 apiece.
Shiprocket shares are anticipated to be listed on both the BSE and NSE on August 19. Axis Capital, Kotak Mahindra Capital Company, JM Financial, and BofA Securities India served as the book-running lead managers for the issue, with Kfin Technologies acting as the registrar.
About Shiprocket
Shiprocket provides technology-driven solutions designed to empower Micro, Small, and Medium Enterprises (MSMEs), direct-to-consumer (D2C) brands, and large retailers in managing and expanding their online and offline businesses. The company was recognized as India's largest new-age end-to-end e-commerce enablement platform by revenue in FY25, highlighting its significant role in the burgeoning e-commerce ecosystem.