Shiprocket IPO today: ₹1,617.5-crore issue opens at ₹92-97; check key details
The e-commerce platform is seeking to strengthen its technology and marketing capabilities while reducing debt and pursuing potential acquisitions.
Shiprocket, the e-commerce enablement platform, has launched its ₹1,617.5-crore IPO today with a price band of ₹92-97 per share. The issue comprises a fresh issue of Rs 885.5 crore and an offer-for-sale (OFS) of shares worth up to Rs 732 crore. Institutional investors, including Qualified Institutional Buyers, Non-Institutional Bidders, and retail investors, have been allocated a significant portion of the issue.
Existing shareholders will sell shares through the OFS, while new investors can bid for a minimum of 154 Equity Shares. The funds raised will be used for marketing initiatives, strengthening technology infrastructure, repaying borrowings, pursuing acquisitions, and meeting general corporate purposes. Shiprocket, backed by investors like Temasek and Zomato, aims to leverage the IPO to improve profitability and reduce debt. The company's shares are set to be listed on the BSE and NSE on August 19.
Written by urgent.news from Hindu BusinessLine's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
- Blackstone’s Horizon Parks opens ₹2,600 crore IPO to cut debt, fund logistics push thehindubusinessline.com
