Shiprocket, an ecommerce enablement platform, made a strong debut on the NSE and BSE, listing at ₹131 on the NSE, a 35.05% premium to its ₹97 issue price. On the BSE, shares opened at ₹129.50, a 33.51% premium. The listing valued the Gurugram-based company at ₹9,531 crore (about $995 million), surpassing its IPO valuation target of ₹7,000 crore, according to inc42.com.
The company had set a price band of ₹92 to ₹97 per share for its ₹1,617.5 crore IPO, which included a fresh issue of ₹885.5 crore and an offer for sale (OFS) of ₹732 crore. The final issue size was smaller than initially proposed. The IPO was subscribed 99.38 times, with investors bidding for 938.53 crore shares against 9.44 crore shares on offer. Qualified institutional buyers led the demand, subscribing 122.8 times to their reserved portion, inc42.com reported.
Shiprocket’s IPO valuation was about 30% lower than the nearly ₹10,000 crore valuation it commanded during its last equity funding round in December 2024. The listing delivered mixed returns for investors: early backer 500 Global gained a gross return of 77.6 times on shares sold through the OFS, while Lightrock and Moore Strategic Ventures exited at a loss. Founded in 2011 by Saahil Goel, Gautam Kapoor, and Vishesh Khurana, Shiprocket operates in the competitive ecommerce enablement sector, inc42.com detailed.
The company’s market capitalization at listing stood at ₹9,531 crore, close to $1 billion, marking a significant milestone for the Gurugram-based startup. The IPO’s strong subscription and listing premium underscore investor interest in ecommerce infrastructure firms in India, inc42.com noted.