Goldman Sachs Bets Big on Shiprocket with Over Rs 52 Crore Investment
Goldman Sachs has invested in Shiprocket, a D-street debutante that made its stock market debut on August 19. The investment firm purchased over 40 lakh shares of Shiprocket at Rs 131 apiece, translating into a transaction value of approximately Rs 52.71 crore.
This is not Goldman Sachs' first interaction with Shiprocket. It was also among the company's anchor investors ahead of its initial public offering (IPO). During this allocation, Goldman Sachs Funds, Goldman Sachs India Equity Portfolio bought 36.07 lakh shares at Rs 97 apiece for a total investment of approximately Rs 35 crore.
Ravi Singh, Chief Research Officer at Master Capital Services, sees long-term upside in Shiprocket due to its end-to-end technology platform and diversified merchant offerings. He advises investors who received allotted shares to book partial profits at listing and hold the rest for the long term.