Shadowfax Technologies Limited IPO

Shadowfax Technologies Limited IPO

Mainboard NSE & BSE 100% Book Built Offer
Closed

Price Band

₹118 - ₹124

Total Issue

₹1,907.27 Cr

Bid Dates

20 Jan - 22 Jan

Subscription

2.72x

Est. GMP

₹-4.1 (-3.31%)

Website RHP Check Allotment

Tentative Timetable

Open
Close
Allotment
Refunds
Credit
Listing

Business Overview

Shadowfax is a new-age, technology-led third-party logistics (“3PL”) service provider that leverages digital platforms to enable seamless commerce-led logistics solutions. As of September 30, 2025, its service network covered 14,758 pin codes across India, enabling extensive nationwide reach. The Company serves a broad spectrum of enterprise clients, including horizontal and non-horizontal e-commerce platforms, quick commerce players, food marketplaces, and on-demand mobility companies. Its service portfolio includes express forward parcel deliveries, reverse pickups, hand-in-hand exchange deliveries, prime and expedited services, quick commerce and hyperlocal deliveries, as well as logistics solutions supporting mobility-based operations.

Lot Info

Lot Information for Shadowfax Technologies IPO
Category Lots Shares Amount
Retail (Min) 1 120 ₹14,880
Retail (Max) 13 1,560 ₹1,93,440
S-HNI (Min) 14 1,680 ₹2,08,320
S-HNI (Max) 67 8,040 ₹9,96,960
B-HNI (Min) 68 8,160 ₹10,11,840

Category Reservation

QIB 75%
NII 15%
Ret 10%
Employee
Rs. 5 Cr
Shareholder
₹0.00

Issue Size

Total ₹1,907.27 Cr
Fresh Issue
₹1,000.00 Cr (8.06 Cr Shares)
Offer For Sale
₹907.27 Cr (7.32 Cr Shares)

Objects of the Issue

A1

₹B1 Cr

A2

₹B2 Cr

A3

₹B3 Cr

Grey Market Premium

GMP ₹-4.1
Est. Price ₹119.90
Est. Gain -3.31%

Shadowfax Technologies IPO Peer Comparison

(Rs. in crores)

Shadowfax Technologies IPO Peer Comparison Table
Particulars Shadowfax Blue Dart Delhivery
Revenue 2,485.13 5,720.18 8,931.90
PAT 6.43 252.42 162.11
EPS (₹) 0.13 106.38 2.19
NAV (₹) 13.83 657.05 124.77
RONW 0.97% 17.25% 1.75%
EBITDA 1.96% NA 1.65%
PE Ratio 953.85 50.70 195.07

All information pertains to FY 2024-25. The PE ratio is calculated using the Upper Price Band for the Issuer and the closing price as of January 8, 2026, for Peers

Financial Performance

(Rs. in crores)

Financial Performance Metrics for Shadowfax Technologies IPO
Particulars Sep-25 Mar-25 Mar-24 Mar-23
Revenue 1,805.64 2,485.13 1,884.82 1,415.12
PAT 21.04 6.43 -11.88 -142.64
Net Worth 693.53 660.43 421.78 176.32
Borrowings 147.44 132.23 40.33 66.69
Assets 1,453.16 1,259.26 786.14 442.73
NAV (₹) 13.46 13.83 9.90 4.17
EPS (₹) 0.41 0.13 -0.28 -3.38

KPIs

Adj EBITDA

1.96%

RONW

0.97%

PE Ratio

953.85

PB Ratio

8.97

Mkt Cap (in Crs.)

7,168.85

  • All the data pertains to FY 2024-25.
  • PE, PB, and market capitalization are calculated based on the Upper Price Band.

Shareholding

Promoter

19.13%

Public

80.87%

Abhishek Bansal 10.76%
Vaibhav Khandelwal 8.37%

Management

Abhishek Bansal MD & CEO
Praveen Kumar CFO

Registrar & Lead Managers

Subscription Status

Updated as on 22-Jan-2026 19:00:00

Mainboard Subscription Status for Shadowfax Technologies IPO
Category Sub (x) Offered Bids
QIB 4.00 4,60,22,638 18,40,33,800
NII 0.88 2,30,11,319 2,03,13,840
bHNI 0.66 1,53,40,879 1,01,19,600
sHNI 1.33 76,70,440 1,01,94,240
Retail 2.42 1,53,40,879 3,71,64,720
Employee 2.17 4,03,226 8,76,000
Total 2.86 8,47,78,062 24,23,88,360

Data is sourced from NSE & BSE and may change. Information is provided on an “AS IS” and “AS AVAILABLE” basis without warranties.

Frequently Asked Questions

What is Shadowfax Technologies IPO?
Shadowfax Technologies IPO is a Mainboard IPO having an issue size of ₹1,907.27 Crs. Shadowfax Technologies IPO is priced at ₹118 - ₹124 per share. The issue opens on 20 Jan 26 and closes on 22 Jan 26.
When will Shadowfax Technologies IPO open?
Shadowfax Technologies IPO opens on 20 Jan 26 and closes on 22 Jan 26.
What is the GMP of Shadowfax Technologies IPO?
The estimated Grey Market Premium of Shadowfax Technologies IPO is ₹-4.1 per share (-3.31%).
What is the lot size of Shadowfax Technologies IPO?
The minimum lot size of Shadowfax Technologies IPO is 120 shares & the minimum application amount is Rs. 14880.
When is the allotment of Shadowfax Technologies IPO?
The allotment date of Shadowfax Technologies IPO is 23 Jan 26.
What is the listing date of Shadowfax Technologies IPO?
The listing date of Shadowfax Technologies IPO is 28 Jan 26.
What is the subscription of Shadowfax Technologies IPO?
Shadowfax Technologies IPO is subscribed 2.72 times.
What is the price band of Shadowfax Technologies IPO?
Shadowfax Technologies IPO is priced at ₹118 - ₹124 per share.
How to check allotment status of Shadowfax Technologies IPO?
Click the allotment link on Shadowfax Technologies IPO page of IPO360.
How to apply Shadowfax Technologies IPO in Zerodha?
  1. Go to Kite App → Tap on Bids → Tap on IPO
  2. Select the IPO → Tap on apply → Enter UPI ID
  3. Enter Qty and Price
  4. Submit the application
  5. Approve the UPI Mandate on your UPI app
How to apply Shadowfax Technologies IPO in Groww?
  1. Go to Groww App → Stocks Section → Select IPO option
  2. Select the IPO you want to apply
  3. Enter your bid details and price
  4. Enter UPI ID & submit
  5. Approve the UPI Mandate on your UPI app
How to apply Shadowfax Technologies IPO using ASBA?
  1. Log in to your bank's net banking portal.
  2. Navigate to the 'IPO' or 'ASBA' section.
  3. Select Shadowfax Technologies IPO from the list of available IPOs.
  4. Enter the required details: Bid quantity, Price, DP ID & Client ID, etc
  5. Submit the application.
  6. Money will remain blocked till the refund date