Shiprocket is all set to open its IPO on August 12. The company aims to raise Rs 1,617.48 crore via a combination of fresh issue and offer for sale. The fresh issue consists of 9.13 crore shares amounting to Rs 885.50 crores, and the offer for sale is of 7.55 crore shares worth Rs 731.98 crores.
The company has the IPO price band between Rs 92 to Rs 97 per equity share. The IPO subscription will close on August 14.
The shares of Shiprocket were trading at a premium of 27.8% to the issue price. The shares were changing hands at Rs 124, implying a profit of Rs 4,158 on a single lot.
However, investors should be aware that GMP is not an official metric to track listing trends. Sometimes the actual listing price could be vastly different from the GMP. It just offers investors a glimpse of investor sentiment.
The allotment for IPO shares is expected to be finalised on August 17, while the listing on the bourses, NSE and BSE, is likely to be on August 19, as per the tentative schedule.
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.
A retail applicant needs to apply for a minimum of one lot that contains 154 shares. This amounts to a total of Rs 14,938.
Axis Capital is the book-running lead manager of the issue, and Kfin Technologies is working as the registrar of the IPO.
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, Shiprocket was India’s largest new-age end-to-end e-commerce enablement platform by revenue in FY25, as per the Redseer report.
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.