Shiprocket extends listing gains as Goldman Sachs raises stake

Shiprocket shares extended their listing gains on Thursday, 20 August 2026, a day after Shiprocket made its market debut. At 9:52 am, the stock was quoting at Rs 152.66 on the BSE, up 6.38% from the previous close of Rs 143.50, after a high of Rs 156.81.

This follows Goldman Sachs picking up over 40 lakh shares of the Gurugram-based ecommerce enablement company in a bulk deal on debut day.

As of 11.12 am, the stock was quoting at Rs 151.63 on the BSE. 

Shiprocket was incorporated in 2011 as Bigfoot Retail Solutions and launched the shipping platform in 2017 as a single window for online sellers across courier partners. It has since widened into a full-stack commerce business spanning fulfilment, checkout, payments, cross-border shipping and omnichannel selling. Bertelsmann India Investments, its largest shareholder at 21.32%, did not sell in the offer, nor did Eternal and PayPal.

How the Shiprocket IPO landed on the bourses

The Rs 1,617.48 crore issue, a fresh issue of Rs 885.50 crore plus an offer for sale of Rs 731.98 crore, ran from 12 August to 14 August 2026 in a band of Rs 92 to Rs 97. It closed subscribed 99.38 times, with qualified institutional buyers bidding 122.80 times, non-institutional investors 88.99 times and retail 46.42 times. Shares listed on August 19, 2026 at Rs 131 on the NSE, a 35.05% premium, and at Rs 129.50 on the BSE.

Commenting on the journey leading to the market debut, Gautam Kapoor, Co-founder and COO, Shiprocket, said the founders started out by trying to build software for small businesses. Over the course of time, both the product and the model changed, before they eventually found the problem they wanted to spend the next decade solving. "A lot has changed since then. The company has grown, the problems have gotten bigger, and there’s still always another one to solve. That’s the part I love."

Institutional money follows the debut

Exchange data showed Goldman Sachs India Equity Portfolio bought 40,24,040 shares at a weighted average of Rs 131, the exact level at which the stock listed on the NSE. Bulk deal data captures one leg of trading and does not indicate a final holding. By 9:52 am, 64.11 lakh shares had changed hands on the BSE, taking turnover to Rs 98.17 crore and market capitalisation to Rs 11,107.20 crore.

The numbers behind that demand show a business still scaling. Revenue from operations rose 24% to Rs 2,024.14 crore in FY26 from Rs 1,632 crore, the net loss widened marginally to Rs 79.25 crore from Rs 74.45 crore, and the EBITDA loss narrowed to Rs 16.56 crore. It served 2,14,769 active merchants in FY26. Shiprocket has no identifiable promoter and is led by co-founder Saahil Goel as Managing Director and CEO.

What a bulk deal on listing day tells investors

A bulk deal is any trade where one buyer or seller moves more than 0.5% of a listed company's equity in a single session. Exchanges require these to be reported after market hours, so they surface the next morning.

For a newly listed stock, the disclosure matters because the shareholder register is still settling. Anchor allottees are locked in, so the market watches who is buying at the traded price rather than the issue price.

A purchase at Rs 131 points to a willingness to pay the listing price rather than wait for a pullback, though one session is not a statement on the longer term.

Attention now turns to how the fresh proceeds will be deployed. Shiprocket has earmarked Rs 294 crore for marketing, Rs 211 crore for technology and up to Rs 210 crore for repaying borrowings. The emerging business, where the losses sit, is the line investors will track first, along with the September quarter numbers, its first as a listed company.

Shiprocket's share closed at Rs 142.19 on the BSE on Thursday.

Feature image: Nihar Apte