Shiprocket IPO allotment today: How to check status online
What's the story
Shiprocket, a leading e-commerce enablement platform, is set to finalize its IPO allotment today. The company's ₹1,617.48 crore initial public offering (IPO) witnessed an overwhelming 99.38 times subscription on the last day of bidding on Friday. The retail category saw a 46.42 times subscription while the non-institutional investor (NII) and Qualified Institutional Buyer (QIB) categories were subscribed by 88.99 times and 122.8 times, respectively, on Day 3 of the bidding process.
Allotment details
Shares to be listed on August 19
The basis of allotment for Shiprocket's IPO is expected to be finalized today, with refunds and credit of shares to successful bidders likely on August 18.
Investors can check their allotment status online by visiting the registrar Kfin Technologies Ltd's portal or through the official BSE website.
The company's shares will be listed on both BSE and NSE on August 19, further expanding its reach in the market.
Market performance
Unlisted shares were trading at a GMP of ₹129
According to market observers, Shiprocket's unlisted shares were trading at a gray market premium (GMP) of around ₹129 per share on Tuesday.
At the upper price band of ₹97, this GMP suggests a listing price of around ₹32 per share, translating to a 33% gain.
The company intends to use funds from its fresh issue for marketing initiatives and strengthening tech infrastructure across core/emerging businesses, repaying/prepaying certain borrowings, potential acquisitions, and general corporate purposes.