Shiprocket IPO Alert: Price Band Fixed At Rs 92-97, IPO To Open On THIS Date | Key Details To Know

Shiprocket IPO: The initial public offering (IPO) of Shiprocket is all set to open for subscription next week. The logistics technology platform its IPO size to Rs 1,617.5 crore from earlier Rs 2,342.3 crore. The move was followed by the decision of existing shareholders to reduce the number of shares they had planned to sell.

If you are among those who are closely tracking the Shiprocket IPO, here are all the details about it, from price band, valuation to key details.

Shiprocket IPO Price Band

The IPO price band is fixed between Rs 92 and Rs 97 per share for retail investors. The lot size for an application is 154 shares. The minimum amount of investment required by retail investors is Rs 14,938 (based on the upper price band).

Shiprocket IPO Key Dates, Registrar Details, Valuation

The issue will open for subscription on Wednesday, August 12. It will close on August 14. The allotment for the Shiprocket IPO is likely to be finalised on August 17, and its tentative listing (on NSE and BSE) is likely to be on August 19, as per Chittorgarh.com. Axis Capital is the book-running lead manager. Lightrock, which is one of the biggest shareholders of the company, is also participating in the offer for sale (OFS). Tribe Capital, Bertelsmann, Saahil Goel, Gautam Kapoor, and Vishesh Khurana will also offload shares in the OFS.

Investor LR India Fund is the largest seller in the OFS, which is offloading shares worth Rs 272 crore. Next on the list is venture capital firm Tribe Capital, which is set to sell around Rs 120 crore worth of shares.

About Shiprocket IPO

It is an Indian e-commerce company founded in 2011, and it provides technology-driven solutions that help micro, small and medium enterprises (MSMEs), direct-to-consumer (D2C) brands, and large retailers in establishing their businesses.

Starting as a shipping platform, Shiprocket's core services now include domestic shipping and shipping software that offer features like instant pickups, order tracking, secure delivery, weight verification, etc.

A part of the IPO proceeds will be used to repay borrowings. The remaining proceeds will go towards technology and growth initiatives, business expansion, acquisitions, and general corporate purposes. The firm has planned spending in technology, artificial intelligence and platform expansion.

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