Shiprocket IPO Opens: Issue Subscribed 62% on Day 1, GMP Suggests 31% Listing Gain
Logistics aggregator Shiprocket's Initial Public Offering (IPO) opened for subscription on August 12, with the issue already subscribed 62% on its first day. The grey market premium (GMP) indicates a potential listing gain of around 31%.
Key takeaways
- Shiprocket IPO is open from August 12 to August 14.
- The IPO price band is ₹92-₹97 per share.
- The issue was 62% subscribed on the first day.
- Grey market premium suggests a potential 31% listing gain.
Logistics aggregator Shiprocket's Initial Public Offering (IPO) opened for subscription on August 12, with the issue already subscribed 62% on its first day. The grey market premium (GMP) indicates a potential listing gain of around 31%.
The Initial Public Offering (IPO) of logistics aggregator Shiprocket commenced on August 12 and will remain open until August 14. The company aims to raise funds through this public issue with a price band set between ₹92 and ₹97 per share.
On the opening day, the IPO saw a robust response, with the issue being subscribed 62% of the total offering. This indicates significant investor interest in the company's public debut.
Further bolstering investor sentiment, the grey market premium (GMP) for Shiprocket shares is reportedly around ₹30. This suggests that the shares might list on the stock exchanges at approximately ₹127, reflecting a potential listing gain of about 31% over the upper price band of ₹97.
The IPO structure includes a reservation of 75% of the issue size for Qualified Institutional Buyers (QIBs), while the remaining portion is allocated to other investor categories. The final allotment of shares is expected to take place on August 17.
This report is for informational purposes only and does not constitute investment advice.
Frequently asked questions
What is the price band for the Shiprocket IPO?
The price band for the Shiprocket IPO is ₹92 to ₹97 per share.
When does the Shiprocket IPO subscription close?
The Shiprocket IPO subscription will close on August 14.
What does the grey market premium (GMP) suggest about the listing?
The grey market premium suggests that Shiprocket shares may list at a premium of approximately 31% over the upper price band.