The ₹1,617.5-crore Shiprocket IPO opens for subscription on Wednesday at a price band of ₹92-97 per share, with proceeds earmarked for technology, marketing, debt repayment and potential acquisitions.
The Rs 1,617.5-crore Shiprocket IPO opens for subscription on Wednesday and closes on Friday. The E-commerce enablement platform company has fixed a price band of Rs 92-97 per share for its IPO. The issue comprises a fresh issue of Rs 885.50 crore and an offer-for-sale (OFS) of shares aggregating up to Rs 732 crore. Bids can be made for a minimum of 154 Equity Shares.UP to 75% of the net offer has been allocated to Qualified Institutional Buyers, not more than 15% to Non-Institutional Bidders and 35 per cent is set aside for retail investors. The offer includes a reservation of equity shares aggregating up to ₹ 1 crore for subscription by eligible employees, who may receive a discount of up to ₹ 9 per shareExisting shareholders, including Lightrock, Tribe Capital, Moore Strategic Ventures, Agility International Investment, Gautam Kapoor, Saahil Goel and Vishesh Khurana, will sell shares through the OFS.On Tuesday, the company has raised Rs 727.41 crore from anchor investors by allotting 7.5 crore shares to anchor investors at Rs 97 apiece.Among the investors participating in the anchor book included New York State Teachers Retirement System, managed by Goldman Sachs Asset Management, Nomura Funds Ireland Public Ltd Company, Societe Generale, ICICI Prudential Life Insurance Company, Tata AIA Life Insurance Company and Axis Max Life Insurance.Other investors included SBI Mutual Fund, HDFC Mutual Fund, Nippon India Mutual Fund and Kotak Mahindra Mutual Fund, Mirae Asset Mutual Fund, UTI Mutual Fund, Motilal Oswal Mutual Fund and Bandhan Mutual Fund.Of the net proceeds, the company plans to invest in marketing initiatives and strengthen technology infrastructure across its core and emerging businesses. Funds will also be used to repay or prepay certain borrowings, pursue potential acquisitions and meet general corporate purposes.Axis Capital Limited, BofA Securities India Limited, JM Financial Limited and Kotak Mahindra Capital Company Limited are the book running lead managers to the issue.Shiprocket is backed by investors including Temasek and Zomato, Shiprocket has evolved from a shipping service provider into a full-stack e-commerce enablement platform serving direct-to-consumer brands and micro, small and medium enterprises.The company operates across two segments – Core Business and Emerging Business. Its core business includes domestic shipping and shipping applications, while its emerging businesses comprise cargo and fulfilment, cross-border shipping, advertising and marketing solutions, capital solutions and hyperlocal deliveries.Shiprocket’s shares are proposed to be listed on the BSE and NSE on August 19.SBI Securities: Valuation: Shiprocket operates as an e-commerce enablement platform and stands to benefit from the B2C market opportunity in India. Over the FY24-FY26 period, the company recorded Revenue CAGR of 24.0%, and narrowed its PAT loss (Adj) from Rs 351 cr in FY24 to Rs 76 cr in FY26. Going ahead, the company plans to utilize part of its fresh issue proceeds towards debt repayment of ~Rs 210 cr, which shall aid in significant deleveraging of its balance sheet (total debt to reduce from Rs 242 cr in FY26 to Rs 32 cr post-repayment), and improvement in profitability on the back of interest cost savings. At the upper price band of Rs 97, the issue is valued at FY26 EV/Sales multiple of 3.1x based on post-issue capital. We recommend investors to SUBSCRIBE to the issue at the cut-off price.Published on August 12, 2026
