Logistics solutions provider Shiprocket made a stellar debut on the domestic stock market, delivering significant gains to investors on its first day of trading. Following robust demand during its initial public offering, the company's shares listed at a strong premium and closed nearly 48 percent higher than the original issue price of ₹97 per share.
Listing Performance on BSE and NSE
On Wednesday, Shiprocket began its journey on the Bombay Stock Exchange (BSE) at ₹129.50 per share, marking a 33.50 percent premium over its issue price. Buying momentum continued throughout the trading session, pushing the stock to close at ₹143.50, representing a total gain of 47.93 percent on its debut day.
The performance on the National Stock Exchange (NSE) was equally strong. The stock opened at ₹131 per share, reflecting a 35 percent jump over the issue price. By the end of trading, it settled at ₹143.45 per share, up 47.88 percent from the issue price. With these listing gains, Shiprocket achieved a total market capitalization of ₹10,440.74 crore at the close of its first session.
IPO Subscription Details and Schedule
The public offering received an overwhelming response from market participants. On the final day of bidding last Friday, the IPO was subscribed 99.38 times across all investor categories. The subscription window had officially opened on Wednesday, August 12, and concluded on Friday, August 14.
Following the closure of the offer, share allotment was finalized on August 17. The allotted shares were subsequently credited to the demat accounts of successful bidders on August 18, paving the way for the official stock exchange listing on Wednesday.
Issue Size, Price Band, and Share Breakdown
Shiprocket raised a total of ₹1,617 crore through the initial public offering, allocating 16,67,61,566 shares in the process. The company had set a price band of ₹92 to ₹97 per share, with a face value of ₹10 per equity share, eventually issuing shares at the upper price limit of ₹97.
The issue comprised both a fresh equity component and an offer for sale. The fresh issue portion accounted for ₹885 crore, involving 9,12,99,203 new equity shares. Meanwhile, existing promoters sold 7,54,62,363 shares valued at ₹732 crore through the Offer for Sale (OFS) route.
Planned Utilization of IPO Proceeds
According to documents submitted to the market regulator SEBI, Shiprocket intends to deploy the net proceeds from the fresh issue toward strategic growth initiatives. A major portion of the funds will be directed toward marketing investments and strengthening the IT infrastructure across its core and emerging business segments.
Additionally, the company outlined plans to allocate part of the capital toward debt reduction, potential strategic acquisitions, and funding general corporate requirements.
