Temasek-backed ecommerce enablement platform Shiprocket has reduced the size of its initial public offering (IPO) by nearly 31% to Rs 1,617.6 crore, from Rs 2,342 crore, according to its red herring prospectus.
The public issue is set to open for subscription on August 12 and close on August 14.
The company has set the price band at Rs 92-97 per share.
At the upper end of the price band, the company is seeking a valuation of around Rs 7,057 crore, or $743 million.
The Gurugram-based company will now raise Rs 885 crore through a fresh issue of equity shares, down from the Rs 1,100 crore proposed in its updated draft red herring prospectus.
