E-commerce and logistics major Shiprocket’s IPO has been oversubscribed significantly on the second day of bidding. The IPO has been oversubscribed 3.16 times, with the employees’ portion seeing robust participation.
The New Delhi-based firm has fixed the share price band at Rs 92 to Rs 97 for its book build issue worth Rs 1,617 crore. In the unlisted markets, Shiprocket’s shares are trading at a premium of 35%.
Shiprocket IPO: Healthy retail and NII participation
As of Day 2, the IPO has been oversubscribed 3.16 times, receiving more than 29 crore bids, against its ask of 9.4 crore shares. The employees quota has been subscribed 13.26 times, and the retail individual investor segment too saw healthy participation with an oversubscription of 9.76 times.
The non-institutional investor category has been oversubscribed by 4.84 times, while the qualified institutional buyers segment remains heavily undersubscribed at 0.03x.
Shiprocket IPO: Subscription snapshot Day 2
Overall, the Shiprocket IPO is seeing active investor interest, having been subscribed 3.16 times on its second day of bidding.
| Investor Category | Subscription (Day 2) |
| Qualified Institutional Buyers (QIBs) | 0.03x |
| Non-Institutional Investors (NIIs) | 4.84x |
| Retail Individual Investors (RIIs) | 9.76x |
| Employees | 13.26x |
| Overall | 3.16x |
Shiprocket IPO: GMP up 35%
As per the latest update, Shiprocket IPO’s shares were trading in the grey markets at a premium of 35%, translating into an estimated listing price of Rs 131, based on the upper end of the share price band. This equates to a gain of Rs 34 per share and a profit of Rs 5,236 per lot.
However, investors must keep in mind that GMP is an unofficial metric used to determine the listing price and does not guarantee profit.
Shiprocket IPO: Subscription timeline
The Shiprocket IPO opened for public bidding on August 12 and will close its window on August 14. The share allotment process is expected to be completed by August 17, and beneficiaries are likely to receive their shares and the requisite refunds by August 18.
Shiprocket is expected to list on the bourses by August 19. The IPO is being handled by Axis Capital, and KFin Technologies is the registrar to the issue.
Shiprocket IPO: Brokerage gives Subscribe rating
Giving IPO a ‘Subscribe’ rating for medium- to long-term investors, Geojit Investments in a report, said, “At the upper price band of ₹97, Shiprocket is valued at ~3.6x FY26 EV/Sales on a post-issue basis, which is at a discount to the listed peer. The company has shown strong growth through expanding merchant adoption and a diversified platform across logistics, fulfilment, cross-border commerce, marketing, and financial services. Its asset-light, technology-driven model supports scalability and efficiency, while debt reduction from IPO proceeds is expected to improve profitability.”