Shiprocket cuts IPO size 31% as early investors eye gains of up to 78x
E-commerce shipping platform Shiprocket has reduced its IPO to Rs 1,617.48 crore from Rs 2,342.35 crore. While 500 Global could realise an estimated 77.6x return through the offer for sale, late-stage investor Lightrock is set to sell at an estimated 0.72x of cost.
Shiprocket cut its IPO size 31% to Rs 1,617.48 crore. Early investor 500 Global could make 77.6X, while late-stage investors including Lightrock may sell below cost. Bertelsmann India Investments, Eternal and Temasek will not participate in the OFS.
Why this matters
The cut follows recent signals that Shiprocket set a Rs 92-97 price band, planned an August 12 IPO opening, and targeted a Rs 7,057 crore valuation after trimming the issue.
Retail-company signals are accelerating, up 166500% QoQ.