Shardul Amarchand Mangaldas & Co. (SAM) acted as legal counsel to the Book Running Lead Managers—Axis Capital Limited, BoFA Securities India Limited, JM Financial Limited and Kotak Mahindra Capital Company Limited as to Indian law, in connection with the ₹1,617.48 crore (USD 169.04 million) initial public offering (IPO) of Shiprocket Limited, an end-to-end horizontal e-commerce enablement platform in India.
The IPO was subscribed 99.38 times overall, with the qualified institutional buyers’ portion subscribed 122.80 times, the non-institutional investors’ portion 88.99 times and the retail individual investors’ portion 46.42 times.
Post 2020, and IPOs above ₹1,500 crores, the Shiprocket IPO received:
- Highest overall QIB subscription – 99.38x
- Highest retail subscription – 46.42x
- Highest employee subscription – 55.65x
The equity shares were listed on the BSE Limited and the National Stock Exchange of India Limited on 19 August 2026.
The SAM team was led by Prashant Gupta, National Practice Head – Capital Markets, and Sayantan Dutta, Partner, and comprised Shivang Agrawal, Senior Associate; Aryan Singh, Associate; Deeksha Dhingra, Associate; and Satakshi N Dixit, Associate.