Shiprocket Makes Strong Dalal Street Entry
Gurugram-based e-commerce enablement company, Shiprocket, made a robust entry onto Dalal Street on Wednesday, with its shares listing at Rs 131 on the NSE. This marked a significant 35.01 percent premium over its issue price of Rs 97 per share. The stock concluded its first day of trading on BSE Ltd. at Rs 129.50, maintaining a premium of 33.51 percent over the issue price.
Significant Gains for Early Investors
The successful listing brought immediate returns for investors. Retail investors who were allotted a single lot of 154 equity shares saw a profit exceeding Rs 5,200 on their initial investment of Rs 14,938. High Net-worth Individual (HNI) investors, holding 14 lots totaling 2,156 equity shares, reaped a profit of approximately Rs 73,300 from their Rs 2.07 lakh investment.
IPO Details and Strong Subscription
Shiprocket's Initial Public Offering (IPO) was open for subscription between August 12 and August 14, offering shares within a price band of Rs 92-97 apiece, with a lot size of 154 shares. The company aimed to raise a total of Rs 1,617 crore through the IPO, which included a fresh issue of shares worth Rs 885 crore and an Offer-for-Sale (OFS) of 7.54 million equity shares valued at Rs 732 crore.
The IPO witnessed overwhelming demand, being subscribed a remarkable 99.38 times overall, attracting over 4.79 million applications and bids totaling more than Rs 91,000 crore. Qualified Institutional Bidders (QIBs) showed immense interest, with their portion subscribed a staggering 122.80 times. Non-Institutional Investors (NIIs) subscribed 88.99 times, while retail bidders' quota was booked 46.42 times. The employee portion also saw healthy interest, subscribed 55.51 times.
Grey Market Premium Indicated Strong Performance
Prior to its listing, Shiprocket's Grey Market Premium (GMP) had shown a strong recovery, signaling positive market sentiment. It commanded a premium of Rs 32-34 per share, anticipating a listing pop of 33-35 percent for investors, aligning closely with the actual debut performance.
About Shiprocket
Established in 2011, Shiprocket is a Gurugram-based Indian e-commerce enablement company. It specializes in providing technology-driven solutions designed to assist Micro, Small, and Medium Enterprises (MSMEs), Direct-to-Consumer (D2C) brands, and large retailers in managing and expanding their online and offline business operations. In FY25, Shiprocket was recognized as India's leading new-age end-to-end e-commerce enablement platform by revenue.
Axis Capital, Kotak Mahindra Capital, JM Financial Ltd, and BofA Securities India served as the book-running lead managers for the Shiprocket IPO, with Kfin Technologies acting as the registrar for the issue.