Shiprocket Ltd's initial public offering (IPO) allotment date is scheduled for August 17, following the close of bidding on August 14. The public issue attracted strong investor interest over the three-day bidding period, with shares trading at a premium of ₹32 in the grey market on the allotment day, according to livemint.com.
The IPO process concluded on August 14, adhering to the 'T+3' listing rule which mandates that public issues must list on Indian stock exchanges within three trading days after bidding ends. Market participants have been able to check their application status online as the company prepares for the allotment announcement. The premium in the grey market reflects positive sentiment ahead of the official listing.
Shiprocket's IPO is part of a growing trend of tech logistics firms seeking public capital to expand operations amid increasing e-commerce demand in India. The premium pricing in the grey market suggests robust investor appetite, aligning with recent successful listings in the sector. This IPO adds to the momentum of Indian startups accessing public markets to fund growth and scale.
The official allotment announcement on August 17 will confirm investor allocations ahead of Shiprocket's listing on Indian bourses, expected within three trading days post-allotment as per regulatory requirements, according to livemint.com.