Shiprocket’s initial public offering is racing ahead on the second day of subscription, touching a cumulative multiple of 2.9x. The e-commerce enablement platform’s IPO is seeing strong interest from individual investors, with the retail category leading the charge at 9.16x. In contrast, Qualified Institutional Buyers (QIBs) have been cautious, subscribing only 0.03x so far.

Subscription Status

The subscription momentum is heavily skewed towards retail investors and small High-Net-Worth Individuals (sHNI). While the total subscription stands at 2.9x, the disparity between categories is stark. Retail investors have booked 9.16x, indicating robust grassroots demand. Non-Institutional Buyers (NII) in the sHNI segment have subscribed 6.93x, while bHNI stands at 3.01x. QIBs remain the weakest link with just 0.03x.

Note: Data reflects end-of-day snapshot for Day 1. Day 2 updates are pending final close.

Intra-day Timeline (13-08-2026)

About the Company

Shiprocket is an end-to-end, merchant-first, API-led technology platform enabling e-commerce transactions for India’s MSMEs and large retailers. Founded in 2011 and led by Managing Director Saahil Goel, the company simplifies logistics, checkout, payments, and fulfilment. According to a Redseer Report, Shiprocket is the largest new-age end-to-end horizontal e-commerce enablement platform in India by revenue in Fiscal 2026. It served 214,769 active merchants in FY26.

Financial Highlights

The company has shown consistent revenue growth but continues to report losses. Revenue from operations rose from ₹1,315.98 crore in FY24 to ₹2,024.14 crore in FY26. However, total profit remained negative at ₹-79.25 crore in FY26, compared to ₹-74.45 crore in FY25 and ₹-595.18 crore in FY24. Total equity increased to ₹1,524.31 crore in FY26.

Objects of the Issue

• Marketing Initiatives: ₹205.80 crore for performance marketing, affiliate programs, and merchant acquisition.
• Technology Infrastructure: ₹159.80 crore for cloud infrastructure, product personnel, and cross-border commerce solutions.
• Debt Repayment: ₹210.00 crore to repay or prepay borrowings from banks and financial institutions.
• Acquisitions & GCP: Funds for potential acquisitions and general corporate purposes.

Risk Factors

• Operating Losses: The company reported restated losses of ₹792.45 million in FY26 and may continue to incur losses as it expands.
• Impairment Risk: Significant impairment losses were recorded in FY24; goodwill represents 36.54% of total assets as of March 31, 2026.
• Merchant Dependence: Revenue is linked to merchant sales volumes; any decline in merchant business could materially impact financial performance.

Key Dates

• IPO Open Date: 2026-08-12
• IPO Close Date: 2026-08-14
• Price Band: ₹92.00000 - ₹97.00000
• Lot Size: 154 shares

Shiprocket IPO opened today, attracting initial interest from investors across various categories. On Day 1, the issue was subscribed 0.96x overall, with strong participation from the Retail category which saw a subscription of 3.29x.

Subscription Status

The IPO received varied levels of interest on its first day of bidding. While the Retail category showed significant demand, the QIB segment remained relatively subdued with a subscription of just 0.02x.

About the Company

Shiprocket is a prominent player in the logistics and e-commerce enablement space. The company facilitates shipping solutions for merchants, helping them manage orders, shipments, and returns efficiently. Its technology platform integrates with multiple courier partners, offering competitive rates and seamless tracking for businesses of all sizes.

Offer Details

Investors looking to participate in the Shiprocket IPO should note the following key details regarding pricing and lot sizes:

• Price Band: ₹92.00000 - ₹97.00000
• Minimum Bid Quantity: 154 shares
• Minimum IPO Size: ₹14168
• Maximum IPO Size: ₹500000