Shiprocket shares made a strong debut on the stock exchanges, listing at a 35 per cent premium over the issue price of Rs 97. The counter opened at Rs 131, up 35.05 per cent from the issue price, on the National Stock Exchange (NSE). On the BSE, Shiprocket’s shares debuted at Rs 129.50, up 33.51 per cent. The rally continued after listing as the stock jumped over 11 per cent to touch the high of Rs 143.90 on the BSE. Similarly, it gained to hit the high of Rs 144 on the NSE. Last seen, Shiprocket share price was Rs 141.18, up 9.02 from the open and 45.55 per cent from the IPO price. The market cap of the company stood at 1,010.45 crore.
Shiprocket IPO received strong response from investors
Earlier, the initial share sale of e-commerce enablement platform Shiprocket Ltd received strong response from investors and was subscribed 99.38 times during the three-day subscription window, which ended on Friday. According to data available on the National Stock Exchange (NSE), the Rs 1,617.5-crore public issue attracted bids for 9,38,51,66,560 shares against 9,44,36,030 shares on offer. The Qualified Institutional Buyers (QIBs) bid for 122.80 times the shares reserved for them. The non-institutional investors segment was subscribed 88.99 times, while the retail quota was booked 46.42 times.
Shiprocket raised 727.41 crore from anchor investors
Ahead of the public issue, Shiprocket Ltd raised Rs 727.41 crore from anchor investors. According to a circular uploaded on the BSE website, the company allotted 7.5 crore equity shares to anchor investors at Rs 97 apiece, the upper end of its IPO price band.
New York State Teachers Retirement System, managed by Goldman Sachs Asset Management, Nomura Funds Ireland Public Ltd Company, Societe Generale, ICICI Prudential Life Insurance Company, Tata AIA Life Insurance Company and Axis Max Life Insurance were among the investors that participated in the anchor book.
