[Update] Shiprocket IPO Closes With 99.38X Oversubscription

Update | August 14, 19:45 IST

Shiprocket’s public issue closed with an oversubscription of 99.38X, with investors bidding for 938.53 Cr shares against 9.44 Cr shares on offer.

The interest was led by qualified institutional buyers (QIBs), who oversubscribed their quota by 122.8X. These investors placed bids for 62.59 Cr shares against 5.10 Cr shares reserved for the category. 

The quota reserved for institutional investors (NIIs) was oversubscribed 88.99X, with these investors bidding for 23.14 Cr shares against 2.60 Cr shares reserved. 

Within the NII category, the portion for applications above ₹10 Lakh was subscribed 99.18X, receiving bids for 17.38 Cr shares against 1.75 Cr shares reserved, while the portion for applications between ₹2 Lakh and ₹10 Lakh was subscribed 68.61X, receiving bids for 5.76 Cr shares against 84.94 Lakh shares reserved. 

The retail category was oversubscribed 46.42X. These investors placed bids for 8.05 Cr shares against 1.73 Cr shares reserved. Meanwhile, the portion reserved for employees was also oversubscribed 55.51X, receiving bids for 66.87 Lakh shares against 1.20 Lakh shares reserved.

Original| August 14, 13:25 IST

Ecommerce enablement platform Shiprocket’s ₹1,617.5 Cr IPO was subscribed 25.8X as of 13:06 IST on the final day of bidding, as demand accelerated across investor categories. 

The issue received bids for 243.83 Cr shares against 9.44 Cr shares on offer, according to BSE data. The IPO comprises a fresh issue of shares worth up to ₹885.5 Cr and an OFS component of about ₹732 Cr. 

NIIs led the demand, placing bids for 130.73 Cr shares against the 2.6 Cr shares reserved for them, translating into a subscription of 50.27X. 

Within the NII category, the portion reserved for applications above ₹10 Lakh was subscribed 55.65X, while the segment for bids between ₹2 Lakh and ₹10 Lakh was subscribed 39.49X. 

Retail investors bid for 50.26 Cr shares against the 1.73 Cr shares reserved for them, subscribing to their quota 28.99X.

Meanwhile, the employee quota was subscribed 34.46X.

Demand from QIBs also picked up sharply on the final day. The category received bids for 62.43 Cr shares against 5.1 Cr shares on offer, translating into a subscription of 12.25X. The QIB portion was subscribed just 3% at the end of the second day. 

Shiprocket’s IPO allotment is expected to be finalised on August 17 (Monday), while its shares are scheduled to list on the NSE and BSE on August 19 (Wednesday).

The IPO was subscribed 3.16X by the end of the second day of bidding, receiving bids for 29.8 Cr shares. Retail investors led the demand with a subscription of 9.7X, followed by NIIs at 4.8X. The employee quota was subscribed 13.3X.

Earlier this week, Shiprocket raised ₹727.4 Cr from anchor investors ahead of the IPO. The anchor book included domestic mutual funds such as HDFC Mutual Fund and global investors including Goldman Sachs, the New York State Teachers’ Retirement System, PGIM and Societe

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