Delivering Gains! Shiprocket shares list at 35% premium over IPO price
The Rs 1,617.48-crore IPO, which was open for subscription from August 12 to August 14, received an overwhelming response from investors. The issue was subscribed 99.38 times overall, reflecting exceptionally strong demand across investor categories.
Shiprocket's shares soared on their debut, trading at a 35% premium to the IPO price of Rs 97 per share. Opening at Rs 129.50 on the BSE and Rs 131 on the NSE, the stock exceeded investor expectations. The Rs 1,617.48-crore IPO, open for subscription from August 12 to 14, saw an overwhelming response, with overall subscription at 99.38 times.
Qualified institutional buyers led the demand, subscribing 122.80 times, while non-institutional investors and retail investors followed with 88.99 times and 46.42 times subscription, respectively. The IPO featured marquee investors like Temasek and Eternal, bolstering investor interest. Shiprocket raised Rs 727.41 crore from anchor investors, issuing 7.50 crore shares at the IPO price.
The company plans to use the proceeds for platform enhancement, expansion, and growth initiatives, including marketing, technology infrastructure, and potential acquisitions. With more than 145,000 active merchants processing over 97 million transactions, Shiprocket aims to accelerate its growth trajectory post-listing.
Written by urgent.news from Economic Times Tech's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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