Shiprocket IPO Day 3: Issue subscribed nearly 100 times, fetches bids worth Rs 9,104 crore

The initial public offering (IPO) of Gurugram-based e-commerce shipping and logistics platform Shiprocket was subscribed 99.38 times on the final day of bidding on Friday, according to BSE data. The issue fetched bids worth around Rs 9,103.6 crore.

The Rs 1,617-crore IPO received bids for 9,38,51,66,560 equity shares against 9,44,36,030 shares on offer.

Qualified Institutional Buyers (QIBs) led the demand, with their portion subscribed 122.80 times. The Non-Institutional Investors (NIIs) category was subscribed 88.99 times, while the retail portion saw 46.42 times subscription. The employee reserved portion was subscribed 55.51 times.

Shiprocket IPO latest GMP

In the unofficial grey market, Shiprocket shares were commanding a premium of around 38.14 per cent over the upper end of the IPO price band, based on the latest available GMP indication.

The IPO was open for subscription from August 12 to August 14, with the company fixing the price band at Rs 92-97 per share.

The initial share sale comprised a fresh issue of shares worth Rs 885.5 crore and an offer for sale (OFS) of Rs 732 crore by existing shareholders.

Before the issue opened for public subscription, Shiprocket had raised Rs 727.41 crore from 50 anchor investors. The company allotted 7.5 crore equity shares to anchor investors at Rs 97 apiece. The anchor book included Nomura, Ashoka WhiteOak, Goldman Sachs and Societe Generale, among others.

Shares of Shiprocket are expected to be listed on both the BSE and NSE on August 19.

Axis Capital, Kotak Mahindra Capital Company, JM Financial and BofA Securities India are the book-running lead managers to the issue, while Kfin Technologies is the registrar.

Shiprocket provides technology-driven solutions that help MSMEs, direct-to-consumer (D2C) brands, and large retailers manage and grow their online and offline businesses. It was India's largest new-age end-to-end e-commerce enablement platform by revenue in FY25.