Shiprocket, an e-commerce shipping and logistics automation platform backed by Tribe Capital, Eternal (Zomato), and PayPal, raised Rs 1,617 crore through its initial public offering (IPO) that opened on August 12 and closed on August 14. The IPO was priced in the band of Rs 92-97 per share and received nearly 100 times subscription, with bids for 938.51 crore shares against 9.44 crore shares on offer, according to NSE data.
The IPO comprised a fresh issue of shares worth Rs 885.5 crore and an offer for sale (OFS) of Rs 731.98 crore by existing investors. Early backers including Lightrock India, Tribe Capital, March Capital Partners, McKinsey & Company, Moore Strategic Ventures, Agility Ventures, and 500 Global participated in the OFS to exit their holdings. Notably, 500 Global, one of Shiprocket’s earliest investors, is set for a significant payout, with its exit value substantially higher than other investors such as Moore Strategic Ventures and Lightrock India, per medianama.com.
Shiprocket’s IPO comes amid growing investor interest in logistics and e-commerce infrastructure firms in India. The company’s ability to attract marquee investors and achieve a nearly 100x subscription highlights strong market demand. The Rs 1,617 crore capital raise will support Shiprocket’s expansion plans and technology development, positioning it alongside other recently listed logistics firms that have tapped public markets to scale operations.
The company’s IPO subscription data and financial details were disclosed in its red herring prospectus and NSE filings. Shiprocket’s shares are expected to begin trading on Dalal Street shortly after the IPO closure, marking a key milestone for the firm and its investors.