Shiprocket IPO Opens: Issue Subscribed 62% on Day 1, GMP Suggests 31% Listing Gain
Source: Mint Markets
Arth Insight · What this means for your wallet
- Quick Profit Chance: If allotted shares, the Grey Market Premium suggests a potential ~₹30 profit per share shortly after listing, boosting your initial investment.
- Funds Blocked Temporarily: Applying for the IPO means a portion of your money (e.g., minimum application around ₹14,550 for 150 shares) will be temporarily blocked.
- Risk to Capital: While gains are anticipated, actual listing performance can vary. Your investment could list lower than expected or even at a loss, impacting your wallet.
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%.
- ▸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.
- ✓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.
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.
Some listings may be sponsored and Arth Vani may earn a referral fee. All information is for educational purposes only — verify terms and suitability with the provider before acting. Not financial 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.
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