Shiprocket IPO
Grey Market Premium (GMP)
GMP applies before listing only. This IPO has listed — see Listing Performance below for the actual debut.
Subscription Status
| Category | Subscription |
|---|---|
| QIB | 125.2x |
| NII | 92.58x |
| sNII (₹2L–₹10L) | 71.39x |
| bNII (above ₹10L) | 103.18x |
| Retail (RII) | 48.38x |
| Employee | 58.85x |
| Total | 102.28x |
Bidding day 3 · final figures at close of bidding: 19 Aug 2026, 6:30 pm IST
IPO Details
- Open Date
- 12 Aug 2026
- Close Date
- 14 Aug 2026
- Listing Date
- 19 Aug 2026
- Face Value
- ₹10
- Fresh Issue
- ₹885.55 Cr
- OFS
- ₹731.94 Cr
- Listing On
- NSE, BSE
- Registrar
- KFin Technologies (KFintech)
Lot Size & Application Amounts
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 154 | ₹14,938 |
| Retail (Max) | 14 | 2,156 | ₹2,09,132 |
| B-HNI (Min) | 67 | 10,318 | ₹10,00,846 |
Issue Reservation
| Investor category | Shares offered | % of issue |
|---|---|---|
| Anchor | 7,49,91,568 | 44.97% |
| QIB (ex-anchor) | 4,99,94,380 | 29.98% |
| NII | 2,49,97,189 | 14.99% |
| — sNII (< ₹10L) | 83,32,396 | 5% |
| — bNII (> ₹10L) | 1,66,64,793 | 9.99% |
| Retail | 1,66,64,793 | 9.99% |
| Employee | 1,13,636 | 0.07% |
| Total | 16,67,61,566 | 100% |
The anchor portion is carved out of the QIB quota. Percentages are of the total shares offered.
Financials (₹ Cr)
| Period Ended | Revenue | PAT | EBITDA | Net Worth | Total Assets | Borrowings | EPS (₹) |
|---|---|---|---|---|---|---|---|
| FY 2024 | 1,357.83 | -595.18 | -495.89 | 1,284.16 | 2,051.22 | 213.28 | — |
| FY 2025 | 1,674.82 | -74.45 | -17.16 | 1,491.23 | 2,308.62 | 244.67 | — |
| FY 2026 | 2,077.42 | -79.25 | -16.56 | 1,524.29 | 2,504.77 | 242.01 | -1.25 |
Restated figures from the offer document. Amounts in ₹ crore; EPS in ₹ per share. FY = the 12 months ended 31 March.
KPIs & Valuation
- P/E (pre-issue)
- -77.6x
- P/E (post-issue)
- -88.99x
- RoNW
- -5.2%
- RoCE
- -2.65%
- EPS (pre-issue)
- ₹-1.25
- EPS (post-issue)
- ₹-1.09
- P/BV
- 4.05x
- NAV / share
- ₹23.96
- Market Cap
- ₹7,057.5 Cr
As of 31 Mar 2026 (latest reported period in the offer document). Market cap is computed on a post-issue basis at the upper price band.
Objects of the Issue
| Purpose | Est. Amount |
|---|---|
| Investment in the growth of Shiprockets platforms-Investment in marketing initiatives primarily for Emerging Business and for Core Business | ₹365.6 Cr |
| Investment in marketing initiatives primarily for the Emerging Business and for the Core Business | ₹205.8 Cr |
| Investment in technology infrastructure and capabilities primarily for the Emerging Business and for the Core Business | ₹159.8 Cr |
| Repayment / prepayment, in full or in part, of certain borrowings availed of by the Company including payment of the interest accrued thereon | ₹210 Cr |
| Funding inorganic growth through unidentified acquisitions and general corporate purposes | ₹249.4 Cr |
| Issue Expenses | ₹112.13 Cr |
Net-proceeds utilisation as disclosed in the offer document.
Issue Expenses
| Purpose | Est. Amount |
|---|---|
| BRLMs fees and commissions (including underwriting commission, brokerage and selling commission) | ₹49.22 Cr |
| Commission/ processing fee for SCSBs and Bankers to the Offer and fees payable to the Sponsor Bank(s) for Bids made by UPI Bidders. Brokerage, selling commission and bidding charges for Members of the Syndicate, Registered Brokers, RTAs and CDPs | ₹1.8 Cr |
| Fees payable to the Registrar to the Offer | ₹0.48 Cr |
| Independent Chartered Accountant | ₹0.84 Cr |
| Statutory Auditors | ₹8.39 Cr |
| Industry expert | ₹1.89 Cr |
| Fee payable to legal counsel | ₹17.36 Cr |
| Others | ₹0.61 Cr |
| Listing fees, SEBI filing fees, upload fees, BSE and NSE processing fees, book building software fees and other regulatory expenses | ₹9.62 Cr |
| Printing and stationery | ₹0.39 Cr |
| Advertising and marketing expenses | ₹16.25 Cr |
| Miscellaneous | ₹5.28 Cr |
Promoters & Shareholding
Promoters: No Identifiable Promoter
Documents
Anchor Investors
| Investor | Category | Shares | Price | Amount ₹Cr | Allocation |
|---|---|---|---|---|---|
| NIPPON INDIA SMALL CAP FUND | Other | 51,54,534 | ₹97 | 50 | 6.87% |
| INDIA ACORN ICAV-ASHOKA WHITEOAK EMERGING MARKETS EQUITY FUND | Other | 46,39,096 | ₹97 | 45 | 6.19% |
| 360 ONE ALTERNATIVES VCC-360 ONE INDIA EQUITY FUND | Other | 46,39,096 | ₹97 | 45 | 6.19% |
| PUBLIC SECTOR PENSION INVESTMENT BOARD-IIFL ASSET MANAGEMENT LTD. | Other | 46,39,096 | ₹97 | 45 | 6.19% |
| MAGNUM HYBRID LONG SHORT FUND | Other | 41,23,658 | ₹97 | 40 | 5.5% |
| MIRAE ASSET AGGRESSIVE HYBRID FUND | Other | 40,20,478 | ₹97 | 39 | 5.36% |
| SBI INNOVATIVE OPPORTUNITIES FUND | Other | 36,08,220 | ₹97 | 35 | 4.81% |
| GOLDMAN SACHS FUNDS-GOLDMAN SACHS INDIA EQUITY PORTFOLIO | Other | 36,07,912 | ₹97 | 35 | 4.81% |
| KOTAK PIONEER FUND | Other | 28,35,140 | ₹97 | 27.5 | 3.78% |
| UTI SMALL CAP FUND | Other | 26,05,988 | ₹97 | 25.28 | 3.48% |
| NIPPON INDIA INNOVATION FUND | Other | 25,77,344 | ₹97 | 25 | 3.44% |
| BANDHAN FOCUSED FUND | Other | 25,63,792 | ₹97 | 24.87 | 3.42% |
| HDFC TRANSPORTATION & LOGISTICS FUND | Other | 25,63,484 | ₹97 | 24.87 | 3.42% |
| MOTILAL OSWAL LARGE CAP FUND | Other | 20,61,906 | ₹97 | 20 | 2.75% |
| HDFC MULTI CAP FUND | Other | 18,60,628 | ₹97 | 18.05 | 2.48% |
| ICICI PRUDENTIAL LIFE INSURANCE CO.LTD. | Insurance | 16,08,684 | ₹97 | 15.6 | 2.15% |
| TATA AIA LIFE INSURANCE CO.LTD.-SMALL CAP DISCOVERY FUND (ULIF 071 22/05/23 SCF 110) | Insurance | 16,08,684 | ₹97 | 15.6 | 2.15% |
| MOTILAL OSWAL CONSUMPTION FUND | Other | 15,46,314 | ₹97 | 15 | 2.06% |
| KOTAK CONSUMPTION FUND | Other | 15,46,314 | ₹97 | 15 | 2.06% |
| KOTAK SERVICES FUND | Other | 12,88,672 | ₹97 | 12.5 | 1.72% |
| PGIM INDIA SMALL CAP FUND | Other | 12,86,824 | ₹97 | 12.48 | 1.72% |
| HDFC BUSINESS CYCLE FUND | Other | 10,33,648 | ₹97 | 10.03 | 1.38% |
| HDFC BALANCED ADVANTAGE FUND | Other | 10,33,648 | ₹97 | 10.03 | 1.38% |
| KOTAK TECHNOLOGY FUND | Other | 10,30,876 | ₹97 | 10 | 1.37% |
| KOTAK TRANSPORTATION & LOGISTICS FUND | Other | 10,30,876 | ₹97 | 10 | 1.37% |
| UTI INNOVATION FUND | Other | 10,02,232 | ₹97 | 9.72 | 1.34% |
| AXIS MAX LIFE INSURANCE CO.LTD.-ULIF00225/06/04 LIFEBALANC 104-BALANCED FUND | Insurance | 6,95,926 | ₹97 | 6.75 | 0.93% |
| CATHAY LIFE INSURANCE CO.,LTD.-CATHAY LIFE INSURANCE CO.,LTD.-CATHAY LIFE HIGH GROWTH FUND 3 | Insurance | 6,95,926 | ₹97 | 6.75 | 0.93% |
| BANDHAN INNOVATION FUND | Other | 6,64,664 | ₹97 | 6.45 | 0.89% |
| HDFC INNOVATION FUND | Other | 6,20,158 | ₹97 | 6.02 | 0.83% |
| HDFC TECHNOLOGY FUND | Other | 6,20,312 | ₹97 | 6.02 | 0.83% |
| MIRAE ASSET INFRASTRUCTURE FUND | Other | 6,18,618 | ₹97 | 6 | 0.82% |
| SOCIETE GENERALE-ODI | Other | 5,15,597 | ₹97 | 5 | 0.69% |
| NEW YORK STATE TEACHERS RETIREMENT SYSTEM-MANAGED BY GOLDMAN SACHS ASSET MANAGEMENT,LP | Other | 5,15,592 | ₹97 | 5 | 0.69% |
| GOLDMAN SACHS ETF TRUST-GOLDMAN SACHS INDIA EQUITY ETF | Other | 5,15,592 | ₹97 | 5 | 0.69% |
| BARODA BNP PARIBAS SMALL CAP FUND | Other | 5,15,655 | ₹97 | 5 | 0.69% |
| ITI FLEXI CAP FUND | Other | 5,15,597 | ₹97 | 5 | 0.69% |
| SUSQUEHANNA PACIFIC PTY.LTD. | Other | 5,15,597 | ₹97 | 5 | 0.69% |
| EDELWEISS TOKIO LIFE INSURANCE CO.LTD.-EQUITY MIDCAP FUND-SFIN ULIF001107/10/16ETLIMITEDCAP 147 | Insurance | 5,15,482 | ₹97 | 5 | 0.69% |
| UNION CONSUMPTION FUND | Other | 5,15,597 | ₹97 | 5 | 0.69% |
| BANDHAN BUSINESS CYCLE FUND | Other | 3,79,764 | ₹97 | 3.68 | 0.51% |
| PGIM INDIA MULTI CAP FUND | Other | 3,21,860 | ₹97 | 3.12 | 0.43% |
| EDELWEISS LARGE CAP FUND | Other | 2,57,789 | ₹97 | 2.5 | 0.34% |
| EDELWEISS RECENTLY LISTED IPO FUND | Other | 2,57,866 | ₹97 | 2.5 | 0.34% |
| AXIS MAX LIFE INSURANCE LTD.-ULIF 01715/02/13 PENSMAXIMI 104-PENSION MAXIMISER FUND | Insurance | 1,03,180 | ₹97 | 1 | 0.14% |
| AXIS MAX LIFE INSURANCE LTD.-UMFPH-HIGH GROWTH PENSION FUND | Insurance | 41,272 | ₹97 | 0.4 | 0.06% |
| AXIS MAX LIFE INSURANCE LTD.-UHG2S-INDIA CONSUMPTION OPPORTUNITIES FUND | Insurance | 30,954 | ₹97 | 0.3 | 0.04% |
| AXIS MAX LIFE INSURANCE LTD.-ULGF 00217/04/06 GRATBALANC 104-GROUP GRATUITY BALANCED FUND | Insurance | 20,790 | ₹97 | 0.2 | 0.03% |
| MAX LIFE INSURANCE CO.LTD.-ULIF 00625/11/05 PENSBALANC 104-PENSION BALANCED FUND | Insurance | 10,318 | ₹97 | 0.1 | 0.01% |
| MAX LIFE INSURANCE CO.LTD.-ULIF 01815/02/13 PENSPRESER 104-PENSION PRESERVER FUND | Insurance | 10,318 | ₹97 | 0.1 | 0.01% |
Anchor bidding took place on 11 Aug 2026. Anchor lock-in: 50% of shares unlock on 15 Sept 2026, the remainder on 14 Nov 2026.
Peer Comparison
| Company | EPS (₹) | NAV (₹) | P/E | RoNW | P/BV | Statements |
|---|---|---|---|---|---|---|
| Shiprocket | -1.24 | 23.96 | — | -5.2% | — | — |
| Unicommerce Esolutions Ltd | 1.79 | 17.17 | 47.75x | 10.6% | 5x | Consolidated |
Peer group as disclosed in the offer document, figures as of 31 Mar 2026. The issuer’s P/E is computed at the upper price band.
Lead Managers (BRLMs)
Tap a lead manager to see every IPO it has run and how those listings fared.
Broker Recommendations
| Reviewer | Verdict |
|---|---|
| Capital Market | Neutral |
Third-party analyst views on the Shiprocket IPO, aggregated for reference. ipostation does not rate IPOs — nothing here is investment advice.
Listing Performance
About the Shiprocket IPO
The Shiprocket mainboard IPO runs from 12 Aug 2026 to 14 Aug 2026, offered at a price band of ₹92–97 per share, and is set to list on NSE and BSE. The company is looking to raise ₹1,617.48 crore through the offer. Retail investors bid in lots of 154 shares, a minimum application of ₹14,938.
Issue structure
The offer combines a fresh issue of ₹885.55 crore with an offer for sale (OFS) of ₹731.94 crore by existing shareholders. Money raised through the fresh issue goes to the company for its stated objects, while OFS proceeds go to the selling shareholders rather than the business.
Objects of the issue
Per the offer document, the company intends to deploy the net proceeds primarily toward investment in the growth of shiprockets platforms-investment in marketing initiatives primarily for emerging business and for core business (₹365.6 crore), alongside funding inorganic growth through unidentified acquisitions and general corporate purposes (₹249.4 crore). In all, 6 objects are disclosed — the full break-up is in the table above.
Financials
In FY2026, Shiprocket reported revenue of ₹2,077.42 crore and a net loss of ₹79.25 crore. Revenue grew from ₹1,357.83 crore in FY2024 to ₹2,077.42 crore in FY2026 (+53.0%). Net worth stood at ₹1,524.29 crore at the end of FY2026.
Valuation
At the upper band, the issue is priced at -88.99× post-issue earnings and 4.05× book value, against a return on net worth of -5.2%. These ratios come from the offer document and are for comparison, not a recommendation.
Promoters
The promoters of the company are No Identifiable Promoter.
Grey market premium (GMP)
In the unofficial grey market, Shiprocket shares are quoted at a premium of ₹36 implying an expected listing around ₹133, about +37.1% over the upper band. Grey market premium is a sentiment indicator set by private dealers, not the company or the exchange — it moves quickly and is not a reliable predictor of the actual listing price.
Subscription
The Shiprocket IPO was subscribed 102.28 times overall. The strongest demand came from qualified institutional buyers (QIB) at 125.2 times, with non-institutional investors (NII) at 92.58× and retail investors at 48.38×.
Listing performance
Shiprocket listed on 19 Aug 2026 at ₹129.5, a premium of +33.5% over the issue price of ₹97.
What to weigh
When evaluating the Shiprocket IPO, the data points most investors look at are the fresh-issue-versus-OFS split, the revenue and profitability trend, subscription demand across investor categories and the grey market premium. Grey market premium and subscription figures reflect short-term sentiment rather than long-term fundamentals; the figures on this page are for information only and are not investment advice.
About Shiprocket
Shiprocket (Shiprocket Ltd.) is a shipping company. It filed its draft red herring prospectus (DRHP) with SEBI on 21-May-2025, and received SEBI observations (approval) on 31-Oct-2025. The proposed IPO (fresh capital cum ofs) is expected to list on BSE and NSE. Axis Capital is acting as a lead manager. IPO dates, price band and lot size have not been announced yet — this page updates automatically once they are.
Shiprocket — Contact Details
- Registered office
- 416, Phase III, Udyog Vihar,, Sector 20,, Gurugram, Haryana, 122008
- Phone
- 9711623070
- Website
- www.shiprocket.in/
- Registrar (IPO queries)
- shiprocket.ipo@kfintech.com
Frequently asked questions
- What is the Shiprocket IPO price band?
- The Shiprocket IPO price band is ₹92 to ₹97 per share, with a lot size of 154 shares.
- What was the Shiprocket IPO GMP before listing?
- The final grey market premium recorded before the Shiprocket IPO listed was ₹36. The IPO listed on 19 Aug 2026 at ₹129.5, +33.5% against the issue price. GMP is an unofficial figure and was never a guarantee of the listing price.
- When does the Shiprocket IPO open and close?
- The Shiprocket IPO opens on 12 Aug 2026 and closes on 14 Aug 2026.
- When is the Shiprocket IPO allotment and listing date?
- Allotment is expected on 17 Aug 2026. The shares are scheduled to list on 19 Aug 2026 on NSE and BSE.
- How many times was the Shiprocket IPO subscribed?
- The Shiprocket IPO was subscribed 102.28 times in total across all investor categories.
- What is the reservation split in the Shiprocket IPO?
- Of the total shares offered, retail investors get 9.99%, QIBs 29.98% (plus 44.97% anchor), non-institutional investors 14.99%. The full category-wise break-up is in the Issue Reservation table on this page.
- Who are the promoters of Shiprocket and what is their holding?
- The promoters are No Identifiable Promoter.
- What is the P/E ratio of the Shiprocket IPO?
- At the upper price band, the Shiprocket IPO is valued at -77.6× pre-issue earnings and -88.99× post-issue earnings, based on the financials disclosed in the offer document.
- What are the objects of the Shiprocket IPO?
- The net proceeds go primarily toward investment in the growth of shiprockets platforms-investment in marketing initiatives primarily for emerging business and for core business, among 6 disclosed objects. See the Objects of the Issue table for the full break-up.
- Who are the lead managers and registrar of the Shiprocket IPO?
- The book-running lead managers are Kotak Mahindra Capital Co.Ltd., JM Financial Ltd., BOFA Securities India Ltd. and 1 others. KFin Technologies (KFintech) is the registrar to the issue.
- Is Shiprocket a Mainboard or SME IPO?
- Shiprocket is a Mainboard IPO, listing on NSE and BSE.