Shiprocket IPO sees massive subscription as Svatantra Microfin files for Rs 3,000 crore offering

Several Indian companies are advancing significant public market moves. Shiprocket Ltd, an e-commerce enablement platform, saw its Rs 1,617.5 crore IPO heavily subscribed, reaching 99.38 times on its final day of bidding. The issue, which includes a fresh issuance and an offer-for-sale, attracted strong interest from non-institutional and retail investors, with Qualified Institutional Buyers (QIBs) bidding 122.80 times their quota. The company plans to use the funds for marketing, technology infrastructure, and debt repayment.

Svatantra Microfin Ltd, led by Chairperson Ananya Birla, has filed preliminary papers with Sebi to launch a Rs 3,000 crore IPO. The offering consists of a Rs 1,500 crore fresh issue and an equal amount via an offer-for-sale. The proceeds are intended to strengthen the company's Tier-I capital base to support future lending growth.

Additionally, Purple Style Labs, the parent company of luxury fashion platform Pernia’s Pop-Up Shop, is expected to launch a Rs 660 crore IPO by the end of August. The company has filed an updated draft red herring prospectus with Sebi and intends to use the proceeds for retail experience centres, back-end offices, and sales and marketing.