Now Reading: Shiprocket IPO fully subscribed on day 2, GMP at Rs 34
-
01
Shiprocket IPO fully subscribed on day 2, GMP at Rs 34
Shiprocket's Rs 1,617.5-crore IPO was subscribed nearly twice on the second day of bidding on August 13, driven by retail and employee demand, according to exchange data. Retail investors subscribed 4.20-6.52 times…
The Story in Brief
Shiprocket's Rs 1,617.5-crore IPO was subscribed nearly twice on the second day of bidding on August 13, driven by retail and employee demand, according to exchange data. Retail investors subscribed 4.20-6.52 times their portion, and employees 9.53 times. Qualified institutional buyers stayed away, subscribing only 2% of their quota.
The grey market premium hovered around Rs 34, implying a 35% listing premium over the upper price band of Rs 97. Shiprocket's net loss widened to Rs 79.2 crore in FY26 from Rs 74.5 crore in FY25, though revenue rose 24% to Rs 2,024 crore. The company plans to use fresh proceeds of Rs 885 crore for debt repayment, technology, and marketing.
The Indian Opinion
The sharp gap between retail euphoria and institutional caution in the Shiprocket IPO should give pause. Retail investors see a 35% listing pop; QIBs see a company whose net loss widened even as revenue grew. The narrative of a 'profitable unicorn' doesn't square with the numbers. The real test: can Shiprocket turn its Rs 76-crore adjusted loss into a profit after debt repayment of Rs 210 crore? That answer, not the GMP, is what matters.
Sources (2): news.abplive.com, inc42.com
This story was synthesised by AI from the 2 sources linked above.
Updated: this story now draws on 2 sources.
