Shiprocket IPO Opened Today: Price Band, Dates, GMP and Full Details

Gurugram-based e-commerce enablement platform Shiprocket opened its initial public offering for subscription on 12 August, seeking to raise ₹1,617.48 crore. That is roughly 31% smaller than the ₹2,342.35 crore the company had originally proposed in its updated draft filing, a trim that came through when the Red Herring Prospectus (RHP) was filed with SEBI on 5 August.

The issue is split between a fresh issue of ₹885.5 crore and an offer for sale (OFS) of ₹731.98 crore by existing shareholders. The price band is fixed at ₹92 to ₹97 per share, face value ₹10 each.

IPO Snapshot

Key IPO Dates

How the Lot Sizes Break Down

The net offer is reserved across investor categories in the standard mainboard proportions: not less than 75% for Qualified Institutional Buyers (QIBs), not more than 15% for Non-Institutional Investors (NIIs), and not more than 10% for Retail Individual Investors. A separate employee reservation portion, capped at 5% of post-offer paid-up capital, is also carved out, with eligible employees allowed a discount of up to ₹9 per share to the offer price.

Anchor Round: ₹727.4 Crore Raised

Ahead of the public offer, Shiprocket raised ₹727.4 crore from anchor investors on 11 August, allotting 7.5 crore equity shares at the upper price band of ₹97 apiece. Domestic mutual funds took the largest share of the anchor book, around 67%, across 31 schemes from 13 mutual fund houses, including HDFC Mutual Fund, Nippon India, Kotak, SBI, Motilal Oswal and UTI. Insurance companies and pension funds took roughly 7% of the allocation, with the remainder going to foreign portfolio investors and other institutions, including Goldman Sachs and PGIM.

Where the Fresh Issue Money Is Going

The company has been explicit that these fund-deployment figures are based on internal management estimates rather than an independent appraisal by any bank or agency, and it retains broad discretion over how the money is eventually spent within these buckets.

Valuation and Ownership Structure

At the upper end of the price band, Shiprocket is valued at approximately ₹7,057.5 crore (around $733 million), up from an implied ₹6,172 crore at the lower end. Notably, the company has no identifiable promoter under SEBI's classification. Its entire pre- and post-offer shareholding sits with the public category (institutional investors, founders and an employee trust), a structure increasingly common among VC-backed startups going public in India, where control rests with a diversified shareholder base rather than a single promoter entity.

The issue is managed by Axis Capital, BofA Securities, JM Financial and Kotak Mahindra Capital, with KFin Technologies as registrar.

Saahil Goel: The Co-Founder and CEO of Shiprocket | Education | Career | Investments | Awards | Biography

Explore how Saahil Goel transformed India’s e-commerce logistics with Shiprocket, enabling seamless shipping solutions for businesses of all sizes. Learn about his education, career, investments, awards, and more.

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