Shiprocket IPO fully subscribed on Day 2: 10 key things retail investors should know from RHP

The initial public offering of e-commerce enablement platform Shiprocket Ltd was fully subscribed on Thursday, August 13, the second day of bidding.

It got bids for 16,60,31,096 shares compared to 9,44,36,030 shares on offer, translating to 1.76 times subscription, according to the NSE data.

The retail investors' quota got subscribed 5.88 times and the non-institutional investors category received 2.37 times subscription. The quota meant for Qualified Institutional Buyers (QIBs) was subscribed 2%.

Shiprocket IPO: 10 key things retail investors should know from RHP

1. Shiprocket IPO subscription period: The initial share sale is open from Wednesday, August 12, to Friday, August 14.
2. Shiprocket IPO price band: The price range has been fixed at ₹92 to ₹97 per share.
3. IPO offer structure: The ₹1,617.48 crore issue consists of a mix of a fresh issue worth ₹885.50 crore and an offer for sale (OFS) component of ₹731.98 crore by existing shareholders.
4. Objectives: Under the OFS, those who will sell their stake include Lightrock, Moore Strategic Ventures, Tribe Capital, Agility International Investment, Saahil Goel, Vishesh Khurana and Gautam Kapoor. The company intends to use fresh issue proceeds to invest in marketing initiatives and strengthen technology infrastructure across its core and emerging businesses, debt clearance, pursue potential acquisitions and meet corporate general purposes.
5. Shiprocket IPO anchor investors: Before the IPO, the company mobilised ₹727.41 crore from anchor investors, including New York State Teachers Retirement System, Nomura Funds Ireland PLC, Societe Generale, Tata AIA Life Insurance Company, Axis Max Life Insurance, ICICI Prudential Life Insurance Company, SBI Mutual Fund, Nippon India Mutual Fund, HDFC Mutual Fund, Kotak Mahindra Mutual Fund, UTI Mutual Fund, Motilal Oswal Mutual Fund, Mirae Asset Mutual Fund and Bandhan Mutual Fund.
6. Shiprocket IPO lot size: An application size consists of 154 equity shares and multiples thereof.
7. Reservation: The company has reserved 75% of the issue for qualified institutional buyers (QIBs), 15% for non-institutional investors (NIIs) and 10% for retail individual investors (RIIs).
8. Book-running lead manager and registrar: Axis Capital, BofA Securities, Kotak Mahindra Capital Company and JM Financial are the book-running lead managers to the IPO, while KFin Technologies Ltd is the registrar.
9. Shiprocket IPO allotment date: The basis of allotment is likely to be finalised on Monday, August 17.
10. Listing date: The listing on the National Stock Exchange and the BSE will take place on August 19.