Shadowfax Technologies IPO Opens for Subscription Tomorrow
The much-anticipated initial public offering (IPO) of Shadowfax Technologies Ltd opens for subscription tomorrow, Tuesday, January 20. This Indian logistics service provider specializes in express parcel delivery for e-commerce and offers a range of supplementary services.
Company Overview and Services
Shadowfax Technologies operates as a key player in India's logistics sector. The company focuses primarily on express parcel delivery services tailored for e-commerce businesses. Their comprehensive service portfolio includes several important offerings.
- E-commerce and direct-to-consumer shipping solutions
- Quick commerce and hyperlocal deliveries completed within hours or on the same day
- SMS and personal courier options available through their dedicated Shadowfax Flash app
This diverse service range positions Shadowfax as a versatile logistics partner for various business needs.
Impressive Financial Performance
Shadowfax Technologies has demonstrated remarkable financial growth in recent periods. The company's latest figures reveal substantial improvements across key metrics.
For the six-month period ending September 2025, profits surged by nearly 114% to reach ₹21 crore. This represents a significant increase from ₹9.8 crore recorded during the same period last year. Revenue during this timeframe jumped to ₹1,805.6 crore, marking a 68.4% rise from ₹1,072 crore.
Looking at the full fiscal year 2025, the company reported a profit of ₹6.4 crore. This performance marks a dramatic turnaround from a loss of ₹11.8 crore in the previous fiscal year. Revenue for fiscal 2025 grew by 31.8% to ₹2,485.1 crore, up from ₹1,884.8 crore.
IPO Details and Market Position
The Shadowfax Technologies IPO carries a price band of ₹118 to ₹124 per equity share. Each share has a face value of ₹10. The company aims to raise ₹1,907.3 crore through this public offering.
This fundraising comprises two components. A new share issuance will generate ₹1,000 crore, while existing investors will sell shares worth ₹907.3 crore.
According to the Red Herring Prospectus, Shadowfax's comparable listed peers include Blue Dart Express Ltd with a P/E ratio of 50.70 and Delhivery Ltd with a P/E of 195.07.
Grey Market Premium and Investor Sentiment
The grey market premium (GMP) for Shadowfax Technologies IPO currently stands at ₹16. This indicator reflects investor willingness to pay above the official issue price.
Considering the upper end of the IPO price band at ₹124 and the current GMP, the estimated listing price reaches approximately ₹140 per share. This represents a 12.90% premium over the IPO price.
Grey market activities over recent sessions show an upward trend. Experts note the lowest recorded GMP at ₹0.00, while the highest reaches ₹16. This movement suggests anticipation of a strong market debut.
IPO Structure and Timeline
The Shadowfax Technologies IPO subscription window opens on Tuesday, January 20 and closes on Thursday, January 22. Investors can apply in lots of 120 equity shares, with subsequent applications in multiples of 120 shares.
The company has allocated shares according to specific reservations. Qualified institutional buyers (QIB) receive 75% of the public issue, non-institutional investors get 15%, and retail investors obtain the remaining 10%.
Anchor investor allocation occurred today, Monday, January 19. The basis of allotment will tentatively be determined on Friday, January 23.
Fund Utilization and Corporate Plans
Shadowfax Technologies plans to utilize the fresh issue proceeds for several strategic purposes. The company will invest ₹423.4 crore to enhance its network infrastructure.
Additional allocations include ₹138.6 crore for lease payments related to new first mile centers, last mile centers, and sorting facilities. Another ₹88.5 crore will support branding, marketing, and communication expenses.
Remaining funds will facilitate potential acquisitions and serve general corporate purposes, supporting the company's growth trajectory.
Listing and Post-IPO Process
The company expects to process refunds on Tuesday, January 27. Successful allottees will see shares credited to their demat accounts on the same day following refund completion.
Shadowfax Technologies shares will likely debut on both the BSE and NSE on Wednesday, January 28. This listing marks a significant milestone for the logistics provider.
IPO Management Team
ICICI Securities, Morgan Stanley India Company, and JM Financial serve as the leading book running managers for this IPO. Kfin Technologies Ltd. will act as registrar for the issue, handling administrative aspects of the public offering.
Investors should note that market views and recommendations come from individual analysts, experts, and broking companies. Potential investors should consult certified experts before making investment decisions regarding this IPO.
