Shiprocket debuts with 35% premium, touches ₹144 intraday

Shiprocket Limited made a strong debut on the stock market on Wednesday, with shares listing at ₹131 on the NSE and ₹129.50 on the BSE, marking premiums of 35 per cent and 33.5 per cent over the IPO price of ₹97. By mid-morning, the stock reached an intraday high of ₹144, resulting in gains of nearly 42 per cent from the issue price.

Trading was robust, with total shares traded exceeding 817 lakh and a traded value of ₹1,100 crore. The company's market capitalisation reached approximately ₹9,998 crore post-debut. The listing matched grey market expectations of a 36 per cent premium. Shiprocket priced its IPO at the higher end of the ₹92–97 band, raising ₹1,617 crore through a fresh issue and an offer for sale by existing shareholders.

The company had initially planned a larger issue of around ₹2,342 crore before narrowing it down. Shiprocket's revenue grew by 24 per cent annually from FY24 to FY26, reaching ₹2,024 crore, while net losses widened to ₹79 crore. The company trades at a price-to-sales multiple of about 2.7x, with no P/E ratio available due to ongoing losses.

Shiprocket's IPO was heavily subscribed, with a total subscription of 99.38 times, led by qualified institutional buyers (122.80 times), followed by non-institutional investors (88.99 times) and retail investors (46.42 times). Shiprocket's success is backed by investors such as Temasek, Eternal, Tribe Capital, and Bertelsmann.