India, Aug. 6 -- Logistics major Shiprocket has filed the RHP to raise Rs.1,617 Cr (about $170 Mn) via its IPO, a 30% reduction from the Rs.2,342.3 Cr proposed in its updated DRHP.

The issue will open for subscription on August 12 and close on August 14. The company has fixed a price band of Rs.92-97 per equity share for the public issue, valuing the company at around Rs.7,000 Cr (about $736 Mn).

The IPO comprises a fresh issue of equity shares worth up to Rs.885.5 Cr and an offer for sale (OFS) aggregating up to Rs.732 Cr. In comparison, the company's DRHP had proposed a fresh issue of Rs.1,100 Cr and an OFS of about Rs.1,242 Cr.

Cofounders Saahil Goel, Gautam Kapoor, and Vishesh Khurana will pare their stakes as part of the OFS. Goel...