Shiprocket’s stellar D-Street debut; KKR buys BookMyShow stake
Shiprocket shares zoomed in a bumper public market debut on Wednesday. This and more in today’s ETtech Top 5.
Shiprocket's shares soared in their initial public offering on Wednesday, opening 35% above the IPO price. The e-commerce logistics firm saw its stock trade at Rs 129.5 and Rs 131 on the BSE and NSE, respectively, against an issue price of Rs 97. It peaked at Rs 155.4 before closing at Rs 143.5, nearly 48% higher than the initial valuation.
The Rs 1,617.48 crore IPO saw overwhelming investor response, with subscription at 99.38 times the issue size. Among notable investors, Bertelsmann and Temasek saw their stakes increase to Rs 1,946 crore and Rs 483 crore, respectively. Global investment firm KKR announced it would invest about Rs 400 crore in BookMyShow at a valuation of Rs 6,000 crore.
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