Shiprocket IPO Oversubscribed 25.8X: Strong Investor Demand

Ecommerce enablement platform Shiprocket’s ₹1,617.5 Cr Initial Public Offering (IPO) concluded its bidding process with an oversubscription of 25.8 times, indicating robust investor interest. As of 13:06 IST on the final day, the issue received bids for 243.83 Cr shares against the 9.44 Cr shares on offer.

The IPO comprises a fresh issue of shares valued at up to ₹885.5 Cr and an Offer for Sale (OFS) component amounting to approximately ₹732 Cr. Non-Institutional Investors (NIIs) emerged as the leading category, subscribing their portion 50.27 times. Within the NII segment, bids for applications above ₹10 Lakh were subscribed 55.65 times, while the segment for bids between ₹2 Lakh and ₹10 Lakh saw a subscription of 39.49 times.

Retail investors also showed strong participation, with their reserved quota being subscribed 28.99 times, receiving bids for 50.26 Cr shares against 1.73 Cr shares. The employee quota was subscribed 34.46 times.

Demand from Qualified Institutional Buyers (QIBs) accelerated significantly on the final day. The QIB portion, which had only seen 3% subscription by the end of the second day, garnered bids for 62.43 Cr shares against 5.1 Cr shares on offer, resulting in a subscription of 12.25 times.

By the end of the second day of bidding, the IPO was subscribed 3.16 times, with retail investors leading the demand at 9.7 times, followed by NIIs at 4.8 times. The employee quota was subscribed 13.3 times.

Shiprocket had previously raised ₹727.4 Cr from anchor investors, including domestic mutual funds like HDFC Mutual Fund and global investors such as Goldman Sachs, the New York State Teachers’ Retirement System, PGIM, and Societe. The IPO allotment is anticipated to be finalized on August 17, with shares scheduled to list on the NSE and BSE on August 19.