The initial public offering (IPO) of Gurugram-based e-commerce shipping and logistics platform Shiprocket continued to get strong investor interest on the final day of bidding, with the issue subscribed 99.38 times as of 5:15 pm on August 14, according to NSE data.

The Rs 1,617.5-crore issue received bids for 9,38,51,68,562 equity shares against 9,44,36,030 shares on offer. Qualified Institutional Buyers (QIBs) led the demand with 122.80 times subscription, followed by Non-Institutional Investors (NIIs) at 88.99 times and retail investors at 46.42 times subscription.

The Shiprocket IPO opened for subscription on August 12 and will close on August 14. The company has fixed the price band at Rs 92-97 per share and is looking to raise Rs 1,617.5 crore at the upper end of the price band.

The issue comprises a fresh issue of shares worth Rs 885.5 crore and an offer for sale (OFS) of Rs 732 crore by existing shareholders.

Before the IPO opened, Shiprocket raised Rs 727.41 crore from 50 anchor investors on August 11. The company allotted 7.5 crore equity shares to the anchor investors at Rs 97 apiece. The anchor book included investors such as Nomura, Ashoka WhiteOak, Goldman Sachs and Societe Generale.

Domestic mutual funds accounted for a sizeable part of the anchor allocation. The company allotted 5 crore shares to 13 domestic mutual funds through 31 schemes, including those managed by SBI Mutual Fund, HDFC AMC, Nippon Life India, Kotak Mahindra AMC, UTI AMC, Mirae Asset, Edelweiss, PGIM India and Bandhan Mutual Fund.

Insurance companies, including Tata AIA Life, Axis Max Life and Edelweiss Life, were allotted 53.41 lakh shares worth Rs 51.8 crore.

Shiprocket plans to use Rs 365.6 crore from the net proceeds of the fresh issue for marketing initiatives and investment in technology infrastructure and capabilities.

Another Rs 210 crore has been earmarked for repayment or prepayment of borrowings. The company had total borrowings of Rs 244.5 crore as of July 10, 2026.

The remaining proceeds are proposed to be used for unidentified acquisitions and general corporate purposes.

The company reported a net loss of Rs 79.2 crore in FY26, compared with a loss of Rs 74.4 crore in FY25. Revenue from operations rose 24 percent year-on-year to Rs 2,024.1 crore in FY26 from Rs 1,632 crore in FY25.

Axis Capital, BofA Securities India, JM Financial and Kotak Mahindra Capital Company are the book-running lead managers to the issue.

Axis Capital, BofA Securities India, JM Financial and Kotak Mahindra Capital Company are the book-running lead managers to the issue.

About Shiprocket

The company operates an end-to-end e-commerce enablement platform covering logistics, checkout, payments, fulfilment and cross-border commerce. It serves MSMEs and large retailers and describes its platform as a merchant-first, API-led technology platform.