E-commerce logistics firm Shiprocket is in its second day of bidding, with retail investors showing strong interest by subscribing over 5 times their quota. While the offering has seen healthy demand, investors are weighing the company's 24% revenue growth against its ongoing losses and intense competition in the logistics sector.
The initial public offering (IPO) of e-commerce shipping firm Shiprocket is currently in its second day of bidding, with data showing an overall subscription rate of approximately 1.58 times by mid-day on August 13, 2026. The demand is being led by retail investors, who have bid for more than 5 times the shares allocated to them, showing significant confidence from individual market participants.
The company is looking to raise Rs 1,617.5 crore through this offering, which includes a fresh issue of shares and an offer for sale. The price band has been set at Rs 92 to Rs 97 per share. Before the public issue opened, the company managed to raise Rs 727.41 crore from anchor investors, including global names like Goldman Sachs and Nomura, which often helps in building initial stability for an IPO.
Investors looking at the financials will notice a tale of two sides. On the positive front, Shiprocket has seen a 24 percent increase in revenue from operations, which rose to Rs 2,024.1 crore in the fiscal year 2026. However, the business is not yet profitable. It reported a net loss of Rs 79.25 crore for the same period. Because the company is still reporting a loss, it does not have a traditional price-to-earnings (P/E) ratio, which is a key metric many investors use to judge if a stock is cheap or expensive.
A major part of the company's plan with the money raised is to reduce its debt burden. Out of the fresh funds, Rs 210 crore is set aside to pay off existing borrowings. Another Rs 365.6 crore will be used to improve technology and marketing, which is crucial in the highly competitive e-commerce logistics space. The company competes with many players, and its ability to keep costs low while expanding its network will be important for future growth.
There are also specific risks that investors should understand. Beyond the lack of current profit, the company’s history includes accounting flags raised by auditors regarding audit trails and internal controls. While these are common in high-growth startup phases, they represent a potential governance risk. Additionally, the grey market premium (GMP) of roughly Rs 34, while pointing to potential listing gains, is an unofficial and highly volatile indicator. It does not guarantee that the stock will actually list at a higher price when it finally hits the exchange.
Moving forward, the focus will be on the final subscription numbers as the IPO closes on August 14. Investors should track how the institutional buyer segment, which has been slower to react compared to retail investors, behaves on the final day, as their participation is usually a strong indicator of long-term belief in the company.