Through its maiden public issue, the company seeks to raise Rs 1,617.48 crore from the markets.
According to a stock exchange filing, Shiprocket allotted 7.50 crore (74,991,568) equity shares to multiple domestic and global anchor investors at Rs 97 apiece, the upper end of its IPO price band. The allocation raised Rs 727.41 crore.
Of the total 74,991,568 equity shares allocated to anchor investors, 50,062,456 shares, or 66.76% of the total allocation, were allotted to 13 domestic mutual funds through 31 schemes.
Another 5,341,534 equity shares, or 7.12% of the total anchor allocation, were allotted to life insurance companies and pension funds.
About Shiprocket IPO
The Shiprocket IPO comprises a 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 Rs 731.98 crore.The IPO will remain open for subscription until August 14, 2026. The allotment is expected to be finalised on August 17, while the shares are expected to list on the NSE and BSE on August 19.
KFin Technologies is the registrar to the issue, while Axis Capital, BofA Securities India, JM Financial and Kotak Mahindra Capital Company are the book-running lead managers.
The company will not receive any proceeds from offer for sale and it will be given to selling shareholders. However, the company intends to use the IPO proceeds for investments in the growth of Shiprocket's platforms, marketing initiatives primarily for its Emerging Business and Core Business, technology infrastructure and capabilities for these businesses, and repayment or prepayment, in full or in part, of certain borrowings, including accrued interest.
The proceeds will also be used to fund inorganic growth through unidentified acquisitions and for general corporate purposes.
About Shiprocket
Incorporated in 2011, Shiprocket is an Indian e-commerce enablement company that provides technology-driven solutions to help micro, small and medium enterprises (MSMEs), direct-to-consumer (D2C) brands and large retailers manage and grow their online and offline businesses. According to the Redseer Report, Shiprocket was India's largest new-age end-to-end e-commerce enablement platform by revenue in FY25.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
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