Shiprocket IPO Size Cut to Rs 1,617 Cr

Shiprocket is set to launch its initial public offering (IPO) after reducing its issue size to Rs 1,617.48 crore. The company has set a price band of Rs 92-97 per share for the IPO, which will open for subscription on August 12 and close on August 14.

The IPO comprises a fresh issue of Rs 885.50 crore and an offer for sale (OFS) of Rs 731.98 crore. Shiprocket has already raised Rs 727.41 crore from anchor investors, allotting 7.5 crore equity shares at Rs 97 apiece.

The company plans to use the IPO proceeds for marketing initiatives, technology infrastructure, and repayment of borrowings. The IPO will list on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) on August 19.

Shiprocket operates across two segments - Core Business and Emerging Business. The company's valuation is around Rs 7,056 crore post-money.

## Why it matters The IPO market remains crowded, with several companies launching their issues in the coming weeks. Shiprocket's IPO is one of the largest in the pack, and its success will be closely watched by investors. The company's shift towards businesses such as checkout, advertising, data, and omnichannel logistics is central to its strategy to build a broader technology platform for India's small and medium businesses.

The company's decision to lower its issue size may be a sign of caution in the current market conditions. However, the strong response from anchor investors, with a total allocation of Rs 727.41 crore, suggests that there is still appetite for the company's stock.

## What happens next The IPO will open for subscription on August 12 and close on August 14. Investors will be watching the company's performance closely, as it navigates the competitive logistics and e-commerce enablement market. With a valuation of around Rs 7,056 crore post-money, Shiprocket is one of the most highly valued companies in the sector.

The company's listing on the NSE and BSE on August 19 will be a key milestone, as it becomes a publicly traded company. Investors will be looking for signs of growth and expansion, as Shiprocket looks to build on its strong foundation in the Indian market.