Shiprocket IPO: The initial public offering (IPO) of the e-commerce shipping and logistics automation platform, Shiprocket Ltd, is set to open for public subscription on Wednesday. The company aims to raise over Rs 1,600 crore from the three-day public issue.
Shiprocket Ltd. is a new age technology platform built to facilitate e-commerce for merchants who sell directly to end consumers through their own websites, apps or social media channels.
The Gurugram-based company is backed by Temasek, Tribe Capital, Eternal and Bertelsmann.
Here's a look at 10 key things to know ahead of the Shiprocket IPO opening tomorrow.
1] Shiprocket IPO Dates
The public issue opens for subscription on August 12, Wednesday, and closes on August 14, Friday. The anchor book for the IPO will open on August 11, Tuesday.
2] Shiprocket IPO Price Band
Shiprocket IPO price band is set at Rs 92 to Rs 97 per share.
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3] Shiprocket IPO Allotment, Listing
Shiprocket IPO allotment date is likely August 17, Monday, while the IPO listing date is August 19, Wednesday. Shiprocket shares will be listed on both the stock exchanges, BSE and NSE.
4] Shiprocket IPO Lot Size
The IPO lot size for an application is 154 shares, and the minimum investment amount required by a retail individual investor is Rs 14,938.
5] Shiprocket IPO Details
Shiprocket IPO size is Rs 1,617.48 crore, comprising a combination of fresh issue of 9.13 crore equity shares worth Rs 885.50 crore, and an offer-for-sale (OFS) of 7.55 crore shares aggregating to Rs 731.98 crore. The company's existing shareholders, including Lightrock, Tribe Capital and others, will offload shares in the OFS.
6] Shiprocket IPO Reservations
The company has reserved not less than 75% of the net offer for Qualified Institutional Buyers, not more than 15% for Non-Institutional Investors, and not more than 10% for Retail Individual Investors.
It has also reserved shares worth Rs 1 crore for its eligible employees, who are offered shares at a discount of Rs 9 per share to the final issue price.
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7] Shiprocket IPO Objectives
The company proposes to utilise the net issue proceeds for investment in the growth of platforms primarily for Emerging Business and for Core Business and repayment or prepayment, in full or part, of certain borrowings, including payment of the interest accrued thereon.
8] Shiprocket IPO Lead Manager, Registrar
Axis Capital Ltd. is the book running lead manager and Kfin Technologies Ltd. is the Shiprocket IPO registrar.
9] Shiprocket IPO GMP Today
The trends for Shiprocket IPO in the unlisted market remain strong, with a decent grey market premium (GMP). According to websites tracking the grey market, Shiprocket IPO GMP today is Rs 27 per share. This indicates that in the grey market, Shiprocket shares are trading higher by Rs 27 apiece than their IPO price.
Shiprocket IPO GMP today signals that the stock would list at Rs 124 apiece, which is at a premium of 27.84% to the issue price of Rs 97.00 per share.
10] Shiprocket IPO Review
Shiprocket operates as an e-commerce enablement platform and stands to benefit from the B2C market opportunity in India, analysts said. Over the FY24-FY26 period, the company recorded a revenue CAGR of 24.0%, and narrowed its net loss (Adj) from Rs 351 crore in FY24 to Rs 76 crore in FY26.
SBI Securities noted that the company plans to utilize part of its fresh issue proceeds towards debt repayment of ~Rs 210 crore, which shall aid in significant deleveraging of its balance sheet, 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,” said the brokerage firm.
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