2 weeks ago
Shiprocket IPO oversubscribed 102 times, listing on August 19
Shiprocket is a company in India that helps small businesses and brands sell their products online.
It decided to sell part of itself to investors, which is called an IPO.
Each share cost between 92 and 97 rupees.
The sale was open for three days, from August 12 to August 14.
Lots of investors wanted to buy, so the offer was subscribed more than 100 times over.
That means people asked for many more shares than the company was offering.
Big investment firms like Goldman Sachs and Nomura bought shares even before the public sale.
The company raised Rs 727.41 crore from 50 of these special investors.
Money from the sale will help Shiprocket grow its business.
Shiprocket's shares will start trading on two big Indian stock exchanges, the BSE and the NSE, on August 19.
The Shiprocket IPO closed on August 14 with overall subscription reported at 102.28 times; one article cited nearly 100 times.
Qualified Institutional Buyers led demand at 125.20 times, followed by NIIs at 92.58 times, retail at 48.38 times and employees at 58.85 times (one report: 122.80x, 88.99x, 46.42x, 55.51x).
The issue, priced at Rs 92-97 per share, comprised a fresh issue of Rs 885.5 crore and an offer for sale of about Rs 732 crore by existing shareholders.
Shiprocket raised Rs 727.41 crore from 50 anchor investors, including Nomura, Goldman Sachs and Societe Generale, at Rs 97 per share.
Investors bid for 938 crore shares against 9.44 crore offered, and shares are expected to list on the BSE and NSE on August 19.
- Who
- Shiprocket, an e-commerce enablement platform for MSMEs, D2C brands and retailers, and the investors who bid in its IPO.
- What
- The company's IPO was oversubscribed more than 100 times, drawing bids worth up to Rs 91,000 crore.
- Where
- India, with shares set to list on the BSE and NSE.
- When
- Subscription ran from August 12 to August 14; listing is expected on August 19.
- Why
- To raise capital through a fresh issue of Rs 885.5 crore and an offer for sale by existing shareholders, amid strong investor demand.
Key facts
- Price band
- Rs 92-97 per share
- Overall subscription
- 102.28x in final tally; one article cited nearly 100x
- Category-wise subscription
- QIB 125.20x, NII 92.58x, Retail 48.38x, Employee 58.85x (Article 1: 122.80x, 88.99x, 46.42x, 55.51x)
- Issue size
- Fresh issue Rs 885.5 crore + OFS Rs 731.98-732 crore
- Total bids
- Rs 91,000 crore from 47.92 lakh applications; one article cited Rs 9,104 crore
- Anchor investment
- Rs 727.41 crore from 50 anchor investors at Rs 97 per share
- Expected listing
- August 19 on BSE and NSE; allotment expected by August 17
- Investment bankers & registrar
- Axis Capital, Kotak Mahindra Capital Company, JM Financial, BofA Securities India; registrar KFin Technologies
Sources
Related news
Shiprocket Shares Debut 35% Above IPO Price Amid Strong Demand
Shiprocket IPO Opens August 12; GMP Hints 27% Listing Gains
Shiprocket Shares List With GMP Signalling Up To 38% Gains
Shiprocket Sets ₹92-₹97 IPO Price Band, Opens August 12
Shiprocket raises ₹727 crore from anchor investors ahead of IPO
Shiprocket IPO Opens with Mixed Brokerage Views on Subscription
Bank of America Vice President Killed in Times Square Stabbing
Times Square Stabbing Leaves One Dead; Suspect Had Ominous Posts
Social Media Posts Preceded Fatal Times Square Stabbing Rampage
Times Square Stabbing Kills Bank Executive as Police Shoot Suspect
Beyond Nvidia, power and cooling firms benefit from data-centre boom
