Shiprocket IPO Lists Today: 38% Gain Expected

Shiprocket’s IPO goes live today, August 19, 2026, on the BSE and NSE, with an estimated listing price of ₹134 per share. This suggests a potential listing gain of 38.14% over its IPO price of ₹97.

The listing follows the IPO allotment finalization on Monday, August 17. Shares will trade in the ‘B’ Group of Securities on BSE.

Key Listing Figures

• Estimated Listing Price: ₹134 per share
• Potential Listing Gain: 38.14%
• Grey Market Premium (GMP): +37
• IPO Price Band (upper end): ₹97
• Post-Issue Market Capitalization: Approximately ₹7,058 crore

The Grey Market Premium (GMP) for Shiprocket shares has maintained an upward trend, fluctuating between ₹14 and ₹37 over the last 13 sessions, signaling strong investor interest.

Analyst Views on Shiprocket’s Trajectory

Mahesh M. Ojha, Vice President – Research & Business Development at Kantilal Chhaganlal Securities Pvt Ltd, noted Shiprocket’s position as a high-growth commerce-enablement platform. Despite currently being loss-making, the company shows financial improvements, supported by its large merchant base and robust revenue growth.

• Revenue CAGR (FY24-FY26): 40%
• Valuation (FY26 financials): ~2.7x price-to-sales and 3.3x EV-to-sales
• Discount to Last Private-Market Valuation: 30% (from ₹10,000 crore to ₹7,058 crore)

Ojha highlighted that traditional P/E metrics are not suitable for the company due to its current losses at both EBITDA and PAT levels. He considers the IPO valuation reasonable compared to listed logistics-tech peers.

Expanding Business & Profitability Outlook

Kundan Prajapati, Founder of The Trading Scholar, emphasized Shiprocket’s evolution beyond a shipping platform into a comprehensive e-commerce enablement business. Its active merchant base now exceeds 2.14 lakh.

• Revenue (FY24): ₹1,316 crore
• Revenue (FY26): ₹2,024 crore
• Newer Segments Growth (FY26): 65% (including fulfillment, international shipping, advertising)
• Net Loss: Approximately ₹79 crore

Prajapati also observed a strong grey market interest, with a GMP of ₹33–34 against the ₹97 issue price, indicating a potential listing price of ₹130–131, or a 34–35% upside. However, he cautioned that grey market figures are unofficial.

For allottees, Mahesh M. Ojha suggests booking partial listing gains, while new investors might consider a wait-and-watch strategy to monitor revenue growth and the path to sustainable profitability.