Shiprocket IPO Subscribed Nearly 2X On Day 2 So Far

Shiprocket's ₹1,617.5 Cr IPO saw a remarkable subscription of 1.97X by the second day of bidding, with demand primarily from retail investors, employees, and non-institutional investors (NII). Retail investors alone subscribed 6.52X, while NII, including investors bidding over ₹10 Lakh, subscribed 2.70X. Employees demonstrated the highest demand, with their portion of the IPO subscribed 9.53X.

However, QIB participation was low, receiving only 0.02X. The IPO ended the first day with a subscription of 0.97X, with investors placing bids for 9.14 Cr shares against the 9.44 Cr shares available. Shiprocket raised ₹727.4 Cr from anchor investors earlier this week and has set a price band of ₹92 to ₹97 per share, closing the issue tomorrow. The company values at about ₹7,000 Cr at the higher end of the price band.