Shiprocket's ₹1,617.48 crore IPO opened for bidding on 12 August. Here is the price band, key dates, and where the money is going. Gurugram-based e-commerce enablement platformShiprocketopened its initial public offering for subscription on 12 August, seeking to raise₹1,617.48 crore. That isroughly 31% smallerthan the ₹2,342.35 crore the company had originally proposed in its updated draft filing, a trim that came through when the Red Herring Prospectus (RHP) was filed with SEBI on 5 August. The issue is split between a fresh issue of ₹885.5 crore and an offer for sale (OFS) of ₹731.98 crore by existing shareholders. The price band is fixed at ₹92 to ₹97 per share, face value ₹10 each. The net offer is reserved across investor categories in the standard mainboard proportions: not less than 75% for Qualified Institutional Buyers (QIBs), not more than 15% for Non-Institutional Investors (NIIs), and not more than 10% for Retail Individual Investors. A separate employee reservation portion, capped at 5% of post-offer paid-up capital, is also carved out, with eligible employees allowed a discount of up to ₹9 per share to the offer price. Ahead of the public offer, Shiprocket raised₹727.4 crore from anchor investorson 11 August, allotting 7.5 crore equity shares at the upper price band of ₹97 apiece. Domestic mutual funds took the largest share of the anchor book, around 67%, across 31 schemes from 13 mutual fund houses, including HDFC Mutual Fund, Nippon India, Kotak, SBI, Motilal Oswal and UTI. Insurance companies and pension funds took roughly 7% of the allocation, with the remainder going to foreign portfolio investors and other institutions, including Goldman Sachs and PGIM. The company has been explicit that these fund-deployment figures are based on internal management estimates rather than an independent appraisal by any bank or agency, and it retains broad discretion over how the money is eventually spent within these buckets. At the upper end of the price band, Shiprocket is valued at approximately ₹7,057.5 crore (around $733 million), up from an implied ₹6,172 crore at the lower end. Notably,the company has no identifiable promoterunder SEBI's classification. Its entire pre- and post-offer shareholding sits with the public category (institutional investors, founders and an employee trust), a structure increasingly common among VC-backed startups going public in India, where control rests with a diversified shareholder base rather than a single promoter entity. The issue is managed by Axis Capital, BofA Securities, JM Financial and Kotak Mahindra Capital, with KFin Technologies as registrar.
