Shadowfax Technologies IPO Enters Final Day: Key Details and Market Response
The initial public offering (IPO) of Shadowfax Technologies Ltd, a prominent logistics solutions provider, is currently in its crucial final phase. The public issue opened for subscription on 20 January 2026 and will conclude on 22 January 2026. This gives investors a limited window of just one day to participate in this significant market event.
IPO Price Band and Fundraising Objectives
The company has set the Shadowfax Technologies IPO price band at ₹118 to ₹124 per equity share. This public offering is structured as a combination of fresh capital issuance and an Offer for Sale (OFS). In total, Shadowfax Technologies aims to raise an impressive ₹1,907 crore through this IPO. Out of this amount, ₹1,000 crore will be generated via the issuance of fresh shares, while the remaining ₹907 crore is allocated for the OFS route.
Grey Market Premium (GMP) Trends
According to recent market observations, the company's shares are currently trading at a premium of ₹4 in the grey market. This indicates that the Shadowfax Technologies IPO GMP today stands at ₹4, which represents a decline of ₹2 from Wednesday's figure of ₹6. Market analysts have attributed this dip in the GMP to several factors, including the recent stock market crash on Tuesday and Wednesday, as well as a somewhat tepid initial response from investors towards the public issue.
IPO Subscription Status Update
As of 4:18 PM on the third day of bidding, the public issue has been subscribed 2.71 times. This follows the end of bidding on day two. Breaking down the subscription figures by investor categories:
- The retail portion of the book build issue has been subscribed 2.25 times.
- The Non-Institutional Investor (NII) segment has been filled 0.83 times.
- The Qualified Institutional Buyer (QIB) segment has been subscribed 3.81 times.
Analyst Recommendations: To Apply or Not?
Several financial experts and brokerage firms have weighed in on the IPO, with many recommending a subscription. Anshul Jain, Head of Research at Lakshmishree, has assigned a 'subscribe' tag to the public issue. He elaborated, "Despite facing intense competition from established incumbents and dealing with high client concentration, Shadowfax’s proprietary AI-led routing technology and its commanding 23% market share in express parcels position it well to capitalize on India's rapidly expanding digital economy. We recommend a ‘SUBSCRIBE’ rating for long-term investors."
In addition to Lakshmishree, other notable brokerage firms such as Kantilal Chhaganlal Securities, BP Equities, Cholamandalam Securities, SMIFS, Sushil Finance, and Ventura Securities have also assigned a ‘subscribe’ rating to the Shadowfax Technologies IPO.
Important IPO Dates and Management Details
The most likely Shadowfax Technologies IPO allotment date is projected to be 23 January 2026. For the bookbuild issue, the company has appointed ICICI Securities, Morgan Stanley India, and JM Financial as the Lead Managers. Furthermore, the most probable date for the Shadowfax Technologies IPO listing on the stock exchanges is anticipated to be 28 January 2026.
