IPO-Bound Shiprocket Nets ₹727.4 Cr From Anchor Investors
Ahead of the commencement of the bidding for its public issue tomorrow (August 12), IPO-bound logistics major Shiprocket has raised…
Shiprocket, a logistics startup, raised ₹727.4 Cr from anchor investors ahead of its IPO. They allotted 7.5 Cr equity shares at ₹97 per share, the upper limit of the price range. Over 5 Cr shares, or 66.8% of the round, were picked up by thirteen domestic mutual funds. Additionally, 53.4 Lakh shares, or 7.12% of the round, were purchased by insurance companies and pension funds.
The IPO, valued at ₹7,000 Cr, will open for subscription tomorrow and close on August 14. Co-founders Saahil Goel, Gautam Kapoor, and Vishesh Khurana will participate in the OFS, selling shares worth a total of ₹81 Cr. If the IPO is successful, Shiprocket will become India's third logistics startup to list on the bourses.
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