Shiprocket IPO ends day 3 with 99.3x subscription on strong QIB push. Check GMP & other details
Shiprocket’s IPO was subscribed 99.31 times, led by strong institutional demand, with QIBs subscribing 122.8 times. The Rs 1,617.59 crore issue also commands a 38% grey market premium over the upper price band of Rs 97. Analysts have recommended subscribing, citing the company’s growth prospects, scalable model and e-commerce opportunity.
Shiprocket's IPO concluded its three-day subscription period with an impressive response, nearly 100 times the shares offered. Institutional investors played a significant role, subscribing 122.8 times their allocated shares, while non-institutional investors subscribed at 88.9 times. Retail investors also participated actively, showing a subscription rate of 46.04 times.
The grey market premium (GMP) for the IPO stands at Rs 37, indicating a 38% premium over the issue price band of Rs 97. Shiprocket aims to raise Rs 1,617.59 crore through the IPO, priced between Rs 92 and Rs 97 per share. The company plans to utilize the proceeds for technology enhancements, expansion, and potential acquisitions.
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