Rupee Falls 12 Paise; Shiprocket IPO Oversubscribed 3.16x

The Indian Rupee closed 12 paise weaker against the US dollar on Thursday, settling at 95.45, while e-commerce platform Shiprocket Ltd’s initial public offering garnered strong investor interest.

Weak domestic markets and persistent foreign fund outflows were cited as primary drivers for the rupee’s depreciation. The currency opened the trading day at 95.40 in the interbank forex market, trading within a range of 95.35 to 95.48.

Rupee Performance Details

The rupee’s closing stood at 95.45 against the US dollar. This marked a depreciation of 12 paise from its previous close. Its opening value was 95.40, with a trading range observed between 95.35 and 95.48.

Shiprocket Ltd’s Rs 1,617.5-crore IPO reached a 3.16 times subscription rate by its second day of bidding. Data from NSE confirmed bids for 29,82,12,684 shares against 9,44,36,030 shares on offer.

Shiprocket IPO Subscription Breakdown

The overall subscription for the IPO was 3.16 times. Retail investors showed significant engagement, subscribing 9.76 times. The non-institutional investors segment was subscribed 4.84 times.

Lenovo India reported an 18% year-on-year revenue growth for the first quarter ending June 30, 2026. This expansion was primarily fueled by robust demand for its AI-integrated solutions. While India-specific revenue was not disclosed, Lenovo’s global revenue for the same quarter reached $26.9 billion.

Lenovo’s Quarterly Growth

Lenovo India recorded 18% year-on-year revenue growth in Q1. Globally, Lenovo’s revenue for the quarter was $26.9 billion. This global figure represented a 43% increase from the $18.8 billion reported in the corresponding quarter of the previous fiscal year.