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Shiprocket Ltd’s INR 1,617.5-crore initial public offering (IPO) received an overwhelming response from investors, with the issue subscribed 99.38 times by the close of bidding. The company received bids for more than 938.51 crore shares against 9.44 crore shares on offer, according to NSE data. Qualified institutional buyers led the demand with a 122.80-times subscription, while non-institutional investors and retail investors subscribed 88.99 times and 46.42 times, respectively. The company had raised INR 727.41 crore from anchor investors before the public issue opened.
The initial public offering of e-commerce enablement platform Shiprocket Ltd closed with the issue subscribed 99.38 times, reflecting strong demand across institutional, non-institutional and retail investor categories. The company received bids for 9,38,51,66,560 shares against 9,44,36,030 shares available in the issue, according to NSE data.
Qualified institutional buyers (QIBs) placed bids for 122.80 times the shares reserved for them. The non-institutional investor category was subscribed 88.99 times, while the retail portion was subscribed 46.42 times. The strong institutional response came largely towards the end of the bidding period, taking the overall subscription close to the 100-times mark.
The IPO was priced in the range of INR 92-97 per share. The issue consisted of a fresh issue of equity shares worth up to INR 885.50 crore and an offer-for-sale (OFS) component of up to INR 732 crore, taking the total issue size to INR 1,617.5 crore.
Before the public issue opened, Shiprocket had raised INR 727.41 crore from anchor investors. The anchor round saw participation from several institutional investors, including domestic mutual funds, ahead of the three-day public bidding process.
Shiprocket plans to use the proceeds from the fresh issue for marketing initiatives and to strengthen its technology infrastructure across its core and emerging businesses. A portion of the funds will also be used to repay or prepay certain borrowings. The company has additionally earmarked funds for potential acquisitions and general corporate purposes.
At the upper end of the price band, Shiprocket’s post-issue market valuation is estimated at around INR 7,058 crore. The company’s financial performance has also improved from earlier years, with revenue increasing from INR 1,357.8 crore in FY24 to INR 1,674.8 crore in FY25 and further to around INR 2,077.4 crore in FY26, according to IPO-related disclosures. The company, however, continued to report a loss in FY26.
Backed by Temasek and Zomato’s parent company Eternal, Shiprocket has expanded beyond its original role as a shipping service provider. It now operates as a broader e-commerce enablement platform serving direct-to-consumer brands as well as micro, small and medium enterprises.
The company operates through two broad segments Core Business and Emerging Business. Its core operations include domestic shipping and shipping applications. The emerging business portfolio covers cargo and fulfilment, cross-border shipping, advertising and marketing solutions, capital solutions and hyperlocal deliveries.
The company’s public-market debut is now scheduled for August 19 on both the BSE and NSE, following the completion of the IPO process. The listing will give investors a market-based valuation of a business that has expanded its offerings along with the growing requirements of online sellers and smaller businesses.
Source PTI
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