Shiprocket IPO: Price Band Set at Rs 92-97 for Rs 1,618 Crore Issue
Shiprocket IPO on Indian stock exchange trading floor
Key Highlights
E-commerce enabler Shiprocket announces its IPO price band at Rs 92-97 per share, aiming to raise Rs 1,618 crore. Subscription opens August 12.
Shiprocket has set its initial public offering () price band between Rs 92-97 per equity share for a Rs 1,618 crore public issue. The subscription window for this offering opens on August 12 and will close on August 14.
Issue Structure and Valuation
- The public issue totals Rs 1,618 crore.
- It comprises a fresh issue worth Rs 1,100 crore.
- An offer for sale () by existing shareholders accounts for Rs 518 crore.
- At the upper price band, Shiprocket’s valuation is estimated around Rs 10,000 crore.
Anchor investors are scheduled to bid on August 11, a day before the general public subscription commences. The company intends to list its shares on both the and the (NSE) post-IPO.
Planned Fund Utilization
Proceeds from the fresh issue are earmarked for several strategic initiatives, reinforcing the company’s operational and market position. These include:
- Enhancing its technology platform.
- Investing in marketing for both core and emerging businesses.
- Repaying certain borrowings.
- Pursuing strategic acquisitions.
- Fulfilling general corporate requirements.
Company Profile
Founded in 2012, Shiprocket has evolved beyond a logistics aggregation platform. It now functions as a comprehensive e-commerce enablement company.
The platform provides a range of services to a vast network of merchants, including MSMEs and direct-to-consumer (D2C) brands. Services encompass shipping, fulfillment, payments, cross-border logistics, and technology solutions in India.