Shiprocket cuts IPO size to Rs 1,617.5 crore; sets Rs 92-97 price band
Shiprocket has reduced its IPO from Rs 2,342.3 crore to Rs 1,617.5 crore as shareholders trimmed their offer for sale. The Rs 885.5-crore fresh issue remains unchanged and is earmarked for technology, AI, platform expansion, debt repayment and acquisitions. Subscription opens Aug. 12.
Shiprocket cut its IPO size to Rs 1,617.5 crore after shareholders reduced stake sales, while retaining an Rs 885.5-crore fresh issue for technology, AI, platform expansion, debt repayment and acquisitions. The price band is Rs 92-97.
Why this matters
The revision follows recent signals that Shiprocket will open its Rs 1,617 crore IPO on Aug. 12 and target a Rs 7,057 crore valuation after trimming the issue by about 30%.
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