IPO-Bound Shiprocket Nets ₹727.4 Cr From Anchor Investors

Ahead of the commencement of the bidding for its public issue tomorrow (August 12), IPO-bound logistics major Shiprocket has raised ₹727.4 Cr from anchor investors.

The startup allotted 7.5 Cr equity shares to anchor investors at a price of ₹97 per share, the upper band of its price spectrum.

Of the total, over 5 Cr shares, or 66.8% of the total anchor round, were picked up by thirteen domestic mutual funds via a total of 31 schemes. The domestic mutual funds that anchored the round included HDFC Mutual Fund, Nippon Life, Kotak Mahindra, Mirae Asset, SBI Mutual Funds, among others. 

Besides, 53.4 Lakh equity shares, or 7.12% of the round, were picked up by insurance companies and pension funds including ICICI Prudential Life Insurance Company, Tata AIG Life Insurance, Axis Max Life Insurance, and Edelweiss Life Insurance. 

Other investors who participated in the round included Goldman Sachs, New York State Teachers Retirement System, PGIM, Societe Generale, Susquehanna Pacific, among others.

With this, the Delhi NCR-based startup’s ₹1,617 Cr IPO will open for subscription tomorrow and subsequently close on August 14 (Friday). At the upper end of ₹92 to ₹97 price band, the public issue values Shiprocket at about ₹7,000 Cr.

The IPO comprises a fresh issue of equity shares worth up to ₹885.5 Cr and an offer for sale (OFS) of up to ₹732 Cr. To note, the startup cut the issue size by 30% compared to the ₹1,100 Cr fresh issue and the ₹1,242 Cr OFS proposed in its updated DRHP.

Cofounders Saahil Goel, Gautam Kapoor and Vishesh Khurana will participate in the OFS. Goel and Kapoor will sell shares worth ₹61 Cr each, while Khurana will offload shares worth ₹20 Cr. Existing institutional investors Lightrock and Tribe Capital will also sell part of their holdings through the IPO.

If the listing materialises, Shiprocket will become the third Indian logistics startup to list on the bourses, after Delhivery and Shadowfax.

The startup became India’s 106th unicorn in 2022, after raising $33.5 Mn at a valuation of $1.2 Bn.

Overall, it has raised $420 Mn in capital from investors like Razorpay, PayPal Ventures, Info Edge Ventures, Temasek, among others.

On the financial front, Shiprocket’s net loss widened over 6% to ₹79.2 Cr in FY26 from ₹74.5 Cr in the year ago fiscal. Meanwhile, its top line increased by 24% to ₹2,024 Cr in the fiscal under review from ₹1,632 Cr in FY25.

The post IPO-Bound Shiprocket Nets ₹727.4 Cr From Anchor Investors appeared first on Inc42 Media.