Shiprocket’s IPO experiences a surge in investor interest on the final bidding day, with subscriptions reaching 25.8 times the offered shares, amid strong participation from non-institutional and retail investors ahead of its listing scheduled for August 19.
Shiprocket’s initial public offering drew a strong late surge on the final day of bidding, with the issue subscribed 25.8 times by 13:06 IST, according to Inc42. The ecommerce enablement platform received bids for 243.83 crore shares against 9.44 crore on offer, suggesting broad-based investor appetite after a slower start to the sale.
Non-institutional investors led the rush, bidding 130.73 crore shares for the 2.6 crore reserved for them, which took that category to 50.27 times subscription. Inc42 said the larger-ticket NII bucket, covering applications above ₹10 lakh, was subscribed 55.65 times, while the ₹2 lakh to ₹10 lakh segment was covered 39.49 times. Retail investors bid 28.99 times their quota and the employee portion was subscribed 34.46 times.
Demand from qualified institutional buyers also gathered pace on the final day. The QIB segment was subscribed 12.25 times, up sharply from just 3% at the end of the second day, according to the BSE data cited by Inc42. The IPO comprises a fresh issue of up to ₹885.5 crore and an offer for sale worth about ₹732 crore, while Moneycontrol reported that proceeds are expected to be used for corporate purposes including debt repayment and working capital needs. The allotment is expected on August 17, with listing on the NSE and BSE scheduled for August 19.
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