Shiprocket IPO Subscribed 25.8 Times On Final Day
E-commerce enablement platform Shiprocket's IPO was subscribed 25.8 times on the final day of bidding. Demand accelerated across investor categories, with non-institutional and retail investors showing significant interest.
The Initial Public Offering (IPO) for e-commerce enablement platform Shiprocket reached a subscription level of 25.8 times on the final day of bidding, as demand surged across various investor categories. The total offering, valued at ₹1,617.5 crore, saw bids for 243.83 crore shares against the 9.44 crore shares available.
The IPO comprises a fresh issue of shares worth up to ₹885.5 crore and an Offer for Sale (OFS) component of approximately ₹732 crore. This structure allows the company to raise new capital while enabling existing shareholders to divest some of their holdings.
Non-Institutional Investors (NIIs) were the leading contributors to the demand, bidding for 130.73 crore shares against their reserved quota of 2.6 crore, resulting in a subscription of 50.27 times. Retail investors subscribed their portion 28.99 times, and the employee quota saw a subscription of 34.46 times.
Demand from Qualified Institutional Buyers (QIBs) also saw a sharp increase on the final day, with their category being subscribed 12.25 times. This marks a significant rise from the 3% subscription level recorded by the end of the second day. Shiprocket had previously raised ₹727.4 crore from anchor investors. The shares are scheduled to list on the NSE and BSE on August 19.