IPO
E-commerce logistics platform Shiprocket’s Rs.1,617.5 Cr IPO subscribed 26x
New Delhi-based e-commerce logistics platform Shiprocket ’s INR 1,617.5 crore IPO was subscribed 25.8X on the final day of bidding, receiving bids for 243.83 crore shares against 9.44 crore shares on offer.The non-institutional investor(NII), retail, and qualified institutional buyers (QIBs) portions were subscribed 50.27X, 34.46X, 28.99X, and 12.25X, respectively.The public issue, priced in the range of INR 92 to INR 97 per equity share, includes a fresh issue of shares worth INR 885.60 crore and an offer for sale (OFS) of shares valued at INR 731.98 crore. The company has already raised INR 727.41 crore from anchor investors, with 13 domestic mutual funds participating through 31 schemes. Axis Capital Ltd. serves as the book-running lead manager.Founded in 2012 by Gautam Kapoor and Saahil Goel, Shiprocket is an e-commerce enablement platform that provides merchants with an integrated suite of solutions, including shipping, checkout, payments, fulfilment, cross-border trade and customer experience tools.The company plans to use the net proceeds to strengthen its technology platform, expand operations, and accelerate growth.
Between Jul 2013 and Aug 2024, Shiprocket had attracted about USD 338-M from 5Ideas, Beenos Partners, Nirvana Ventures, Beenext, Bertelsmann India Investments, Recruit Strategic Partners, MUFG Innovation Partners, Susquehanna Asia VC, Tribe Capital and others.For FY25, Shiprocket had reported about INR 1,611 Cr in Operating Income and about INR 50 Cr in Net Loss.
Want to receive such news items in your inbox? Click Here to sign up for a trial.
