Shares of Shiprocket Ltd made a strong entry into the stock market on Wednesday, August 19, giving investors who secured an allotment sizeable gains on the listing day. The e-commerce technology company’s stock opened at Rs 131 per share on the NSE, representing a 35.05% premium over its IPO price of Rs 97. On the BSE, Shiprocket shares began trading at Rs 129.50, marking a 33.51% premium.
How Much Did Shiprocket IPO Investors Gain?
The IPO lot contained 154 shares, requiring an investment of Rs 14,938 at the issue price. Based on the NSE listing price of Rs 131, the same lot was worth Rs 20,174 at the start of trading. This translates into a listing-day gain of Rs 5,236 per lot for investors who received shares in the IPO.
How Much Was The Shiprocket IPO Worth?
Shiprocket raised Rs 1,617.48 crore through its initial public offering. The issue included a fresh issue worth Rs 885.50 crore, while shares worth Rs 731.98 crore were offered through an offer for sale. The company plans to deploy the capital towards areas including marketing and technology infrastructure. Part of the proceeds will also go towards debt repayment, potential acquisitions and general corporate requirements.
How Many Times Was The Shiprocket IPO Subscribed?
The public issue attracted exceptionally strong demand before its listing. According to NSE data, the IPO received bids for 9,38,52,82,214 shares, compared with 9,44,36,030 shares available, resulting in an overall subscription of 99.38 times. The qualified institutional buyer category was subscribed 122.80 times, while non-institutional investors bid for 88.99 times the shares reserved for them. The retail portion recorded 46.42 times subscription.
Who Invested In Shiprocket Before Its IPO?
Ahead of the public issue, Shiprocket raised Rs 727.41 crore from anchor investors. The anchor book included several major institutional names, including Nomura, Goldman Sachs, SBI Mutual Fund, HDFC AMC, Kotak Mahindra AMC, Nippon Life India, UTI AMC, Mirae Asset and PGIM India, among others.
What Does Shiprocket Do?
Shiprocket operates an e-commerce technology platform designed to help merchants manage and facilitate online sales. Its technology supports MSMEs and larger retailers selling directly to consumers through websites, mobile applications and social media channels. The platform focuses on simplifying various aspects of e-commerce operations through its merchant-focused, API-led technology.
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