Shiprocket makes a strong debut on the bourses, listing at a premium of 35% to the issue price at Rs 131 on the NSE. The stock has listed at a 34% premium on the BSE at Rs 129.50. The company had fixed the issue price at Rs 97 per equity share.
The IPO was a book-built issue worth Rs 1,617 crore. It comprised two components: a fresh issuance of Rs 885.50 crore and an offer-for-sale of Rs 731.98 crore.
The issue achieved an overall subscription of 102.28 times. The non-institutional investor (NII) segment also saw a sturdy response, being oversubscribed 92.58 times, while the retail applicant portion was oversubscribed 48.38 times. The employee quota, which was offered at a discount of Rs 9 to the issue price, was oversubscribed 58.85 times.
Axis Capital was the book-running lead manager for the IPO, and Kfin Technologies was the registrar of the issue.
Speaking on the prospects of the company going forward, experts have been betting on the diversified logistics platform.
“At the upper price band of Rs 97, Shiprocket is valued at 3.6x FY26 EV/Sales on a post-issue basis, which is at a discount to the listed peer. The company has shown strong growth through expanding merchant adoption and a diversified platform across logistics, fulfilment, cross-border commerce, marketing, and financial services,” said Geojit Investments in a report during IPO bidding.
Its asset-light, technology-driven model supports scalability and efficiency, while debt reduction from IPO proceeds is expected to improve profitability, Geojit added.
The company will be using the money raised via fresh issue for investment in the growth of Shiprocket’s platforms (Rs 365.60 crore), investment in marketing initiatives (Rs 205.80 crore), investment in technology infrastructure and capabilities (Rs 159.80 crore), and payment of debt (Rs 210 crore).
Also, the company will use some funds for acquisitions and general corporate purposes.
Shiprocket is an Indian e-commerce enablement company. It provides technology-driven solutions that help micro, small and medium enterprises (MSMEs), direct-to-consumer (D2C) brands, and large retailers manage and grow their online and offline businesses.
Incorporated in 2011, the company initially started as a shipping platform. Its core services include domestic shipping and shipping software that offer features such as instant pickups, order tracking, secure delivery, weight verification, and faster cash-on-delivery (COD) payment settlements.