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JM Financial initiates Shiprocket at Buy with ₹165 target for September 2027, 30% above current price

Shiprocket, which closed at ₹127, is forecast by JM Financial to lift revenue from ₹20.2 billion in FY26 to ₹43.4 billion by FY29E. The September 27E target of ₹165 values the stock at 32x Sep '28E adjusted EBITDA.

Share price at IPO, at the recent close and at JM Financial's target
  • IPO issue price₹97
  • Recent close₹127
  • JM Financial target (Sep 27E)₹165
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Reported figures

From the report. Source details below

Core business CAGR FY26-FY29: 18%
Emerging businesses revenue by FY29: ₹18.8 billion
IPO issue price: ₹97

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