Shares of ecommerce enablement platform Shiprocket rose as much as 9.3% to an intraday high of ₹156.81 on the BSE after Goldman Sachs India Equity Portfolio acquired 40.24 lakh shares worth ₹52.7 crore through a bulk deal. The transaction occurred the day after Shiprocket’s stock market debut, which saw its shares list at a premium over the IPO price on both NSE and BSE, according to inc42.com.
Goldman Sachs had earlier participated in Shiprocket’s anchor allocation before the IPO, purchasing 36.07 lakh shares at the IPO price of ₹97 apiece. The bulk deal shares were bought at a weighted average price of ₹131 each. Shiprocket’s stock debuted at ₹131 on NSE, a 35.1% premium over the IPO issue price of ₹97, and closed its first trading session at ₹143.50 on BSE, nearly 48% above the issue price, inc42.com reported.
The IPO was subscribed 99.38 times overall, with qualified institutional buyers subscribing 122.8 times to their reserved portion. Shiprocket’s market capitalization reached ₹11,014.8 crore (about $1.1 billion) following the listing. The strong institutional interest and premium listing reflect investor confidence in Shiprocket’s position in the ecommerce enablement sector, which has seen increasing demand amid growing online retail activity, inc42.com noted.
At the time of the bulk deal, Shiprocket’s shares were trading 61.7% above the IPO issue price at their intraday high. The company was founded in 2011 by Saahil Goel, Gautam Kapoor, and Vishesh Khurana. The next significant market update will be Shiprocket’s quarterly earnings release, which investors will watch closely for performance insights, according to inc42.com.