Shiprocket's ₹1,617-crore IPO closes with 99x oversubscription

Shiprocket's ₹1,617.5-crore IPO was subscribed 99.38 times on the final day, receiving bids for 938.53 crore shares against 9.44 crore shares on offer. Qualified institutional buyers led demand, with their portion subscribed 122.8 times, while non-institutional and retail portions were subscribed 88.99 times and 46.42 times, respectively. The IPO allotment is expected to be finalised on Monday.