Shiprocket Shares Rise Over 9% After Goldman Sachs Block Deal
Shiprocket's stock price surged by more than 9% on Monday following a significant share acquisition by Goldman Sachs. The investment firm purchased shares worth approximately ₹52.7 crore.
Shares of Indian e-commerce enablement platform Shiprocket experienced a notable surge, climbing over 9% in intraday trading on Monday. The increase followed a substantial block deal executed by Goldman Sachs.
Goldman Sachs India Equity Portfolio acquired 4.02 million shares of Shiprocket at a weighted average price of ₹131 per share. The transaction value amounted to approximately ₹52.7 crore (around $630,000).
The stock's ascent occurred on its first day of trading. At its intraday peak, Shiprocket's share price reached ₹156.81, marking a gain of over 61% compared to its initial public offering (IPO) price of ₹97.
Goldman Sachs had also participated in Shiprocket's anchor book allocation prior to the IPO. The company, founded in 2011, provides shipping and fulfillment solutions for small businesses and D2C brands.