Shiprocket IPO listing: Shares list at 35% premium over the IPO price. Details here | Stock Market News
Shiprocket IPO listing: Shares of Shiprocket Limited witnessed a bumper listing in the Indian stock market on Wednesday, 19 August. Shiprocket share price listed at 35% premium over the IPO price of ₹97 per share.
Shiprocket share price opened at ₹131 apiece on NSE and ₹129.50 per share on BSE (33.51% premium). This means that the Shiprocket IPO listing delivered 35% gains to its IPO allottees.
The listing of Shiprocket IPO came in line with the market expectations. The GMP of Shiprocket IPO was ₹35, indicating an estimated listing price of ₹132, ahead of listing.
The Shiprocket IPO was offered at a price band of ₹92- ₹97 per equity share. The issue comprised a fresh issue of 9.13 crore shares amounting to ₹885.60 crore, along with an offer for sale (OFS) of 7.55 crore shares worth ₹731.98 crore.
The company plans to utilise the net proceeds from the fresh issue to enhance its technology platform, scale operations and support various growth initiatives. Around ₹294 crore of the proceeds has been allocated towards marketing and brand-building activities, while ₹211 crore will be deployed to strengthen technology infrastructure and capabilities across its existing and new business verticals.
Under the IPO's reservation structure, 75% of the issue has been allocated to Qualified Institutional Buyers (QIBs), 15% to Non-Institutional Investors (NIIs), and the remaining 10% to retail investors.
Axis Capital is the book-running lead manager for the issue, while KFin Technologies is acting as the registrar.
Shiprocket is a technology-led e-commerce enablement platform that offers businesses an integrated suite of solutions for managing their online and offline commerce activities. Its services cover shipping, checkout, payments, fulfilment, cross-border commerce and customer experience, helping merchants simplify and manage multiple aspects of their operations.
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.
Vaamanaa covers business and stock market news. Started in 2020, she has been producing news on digital platforms for over 4.5 years now. She writes on markets, commodities, IPOs, and industry. She has worked for news channels like Jagran New Media and Business Insider India. You can reach out to her at vaamanaa.sethi@htdigital.in.
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