NEW DELHI, Aug 19: Shiprocket made an impressive debut on the Indian stock exchanges on Wednesday, with its shares listing at a significant premium over the initial public offering price.
The company’s stock opened at ₹131 per share on the National Stock Exchange (NSE), representing a 35.05 per cent premium over the issue price of ₹97. On the Bombay Stock Exchange (BSE), the shares opened at ₹129.50.
The strong market debut came after investors showed exceptional interest in the company’s public issue. Shiprocket’s ₹1,617.49 crore IPO was subscribed 99.38 times by the close of bidding on August 14, according to IPO data.
The issue comprised a fresh share sale as well as an offer for sale by existing shareholders. The company had fixed the price band at ₹92-₹97 per equity share.
The overwhelming subscription reflected strong investor interest in India’s expanding e-commerce and logistics ecosystem. Shiprocket provides technology enabled logistics solutions for online sellers and businesses, positioning it to benefit from the continued expansion of digital commerce.
The company’s market debut also comes amid heightened activity in India’s primary market, with several businesses accessing public capital to fund expansion and provide exits to existing investors.
The strong opening has placed Shiprocket among the closely watched new-age companies in the Indian equity market and could encourage further investor participation in technology led businesses.
