Shiprocket IPO is set to open for public subscription on Wednesday, 12 August, and will remain so until Friday, 14 August. The IPO is a book-build issue of ₹1,617 crore, with a price band fixed at ₹92 to ₹97 per share.
Meanwhile, the grey market premium (GMP) of Shiprocket shares on Monday afternoon was ₹26, suggesting the stock could list at a 27% premium to the issue price.
As the issue is scheduled to conclude on Friday, share allotment is expected to be finalised on the next business day on Monday, 17 August. Shiprocket shares will list on the NSE and the BSE on Wednesday, 19 August.
Here are the 10 key things that investors should know about Shiprocket IPO from the Red Herring Prospectus (RHP):
Shiprocket IPO is a fresh issue of 9.13 crore shares to raise ₹885.50 crore, and an offer for sale (OFS) of 7.55 crore shares, aggregating to ₹1,731.98 crore.
LR India Fund I S.a.r.l. SICAV-RAIF, Tribe Capital III, LLC–Series 1, MCP3 SPV LLC, Moore Strategic Ventures, LLC, Agility International Investment L.L.C., and 500 Startups III, L.P. are the investor selling shareholders in the OFS, while Gautam Kapoor, Saahil Goel, and Vishesh Khurana are individual selling shareholders in the OFS.
Axis Capital, BofA Securities India, JM Financial, and Kotak Mahindra Capital Company are the book-running lead managers, while KFin Technologies is the registrar of the issue.
The company intends to use the net proceeds from the fresh issue of shares for marketing initiatives, to invest in technology infrastructure, to pay certain borrowings, to fund inorganic growth through unidentified acquisitions, and for general corporate purposes.
Saahil Goel, 42, is the managing director and chief executive officer of the company. Gautam Kapoor, 42, is the executive director and chief operating officer. The company's board has seven directors.
Shiprocket is an end-to-end, new-age, merchant-first, and API-led technology platform designed to enable e-commerce transactions for India’s MSMEs and large retailers.
As per the RHP, the Shiprocket platform simplifies logistics, checkout, payments, fulfilment, and cross-border trade, enabling merchants to sell online and offline efficiently and at scale.
Disclaimer: This article is for educational purposes only and does not constitute investment advice. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
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