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Shadowfax Technologies Limited IPO
Shadowfax Technologies Limited IPO

Shadowfax Technologies Limited IPO

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.

Price Band

₹118 - ₹124

Dates

20 Jan - 22 Jan

GMP

₹-4.1 (-3.31%)

Subscriptions

2.72 times

Issue Size

₹1,907.27 Crs

Shadowfax Technologies IPO Key Dates

Opening Date

20 Jan 26

Closing Date

22 Jan 26

Basis Of Allotment

23 Jan 26

Initiations Of Refund

23 Jan 26

Credit Of Shares

27 Jan 26

Listing Date

28 Jan 26

Shadowfax Technologies IPO Objects

  1. Funding of capital expenditure requirements of the Company in relation to the network infrastructure
  2. Funding of lease payments for new first mile centers, last mile centers & sort centers
  3. Funding of branding, marketing & communication costs
  4. Unidentified inorganic acquisitions & general corporate purposes

Shadowfax Technologies IPO Details

Price Band

₹118 - ₹124

Listing At

NSE & BSE

IPO Issue Type

100% Book Built Offer

Fresh Issue

₹1,000.00 Cr (8.06 Cr Shares)

Offer For Sale

₹907.27 Cr (7.32 Cr Shares)

Total Issue

₹1,907.27 Cr (15.38 Cr Shares)

Face Value

₹10 per equity share

Shadowfax Technologies IPO Lot Information

Investor Category Lot Shares Amount
Retail
Minimum 1 120 14,880
Maximum 13 1,560 1,93,440
Small HNI
Minimum 14 1,680 2,08,320
Maximum 67 8,040 9,96,960
Big HNI
Minimum 68 8,160 10,11,840

Shadowfax Technologies IPO Subscription

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

Investor Category Subscription (times) Shares Offered Shared Bid
QIB 4.00 4,60,22,638 18,40,33,800
NII 0.88 2,30,11,319 2,03,13,840
bNII (bids above ₹10L) 0.66 1,53,40,879 1,01,19,600
sNII (bids between ₹2L to ₹10L) 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.

Shadowfax Technologies IPO GMP

The estimated Grey Market Premium of Shadowfax Technologies IPO is ₹-4.1 per share (-3.31%)

The GMP prices displayed here reflect news related to grey market trends. We do not trade or deal in the grey market, including subject-to-rates, nor do we recommend participating in grey market trading.

Category Allocation

Particulars Allocation
QIB Not less than 75% of Net Offer
Big HNIs (NII) Not more than 10% of Net Offer
Small HNIs (NII) Not more than 5% of Net Offer
Retail Not more than 10% of Net Offer
Employee Rs. 5 Cr

Shadowfax Technologies IPO Financials

(Rs. in crores)

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

The financial information presented is on a consolidated basis.

Key Performance Indicators

KPI VALUES
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.

Shadowfax Technologies IPO Peer Comparision

(Rs. in crores)

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

Shadowfax Technologies IPO Peer Comparision

(Rs. in crores)

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

Promoter Details

Name Shareholding
Abhishek Bansal 10.76%
Vaibhav Khandelwal 8.37%
Total 19.13%

Management Details

Name Designation
Abhishek Bansal MD & CEO
Praveen Kumar CFO

Company Details

Name: Shadowfax Technologies Limited

Address: 3rd Floor, Shilpitha Tech Park Sy No. 55/3 & 55/4 Outer Ring Road, Devarabisanahalli Village, Bellandur, Varthur Hobli, Bengaluru - 560103 Karnataka, India

Number: 080 6452 5653

Email: investors@shadowfax.in

Website: www.shadowfax.In

Frequently Asked questions?

Find answers to common questions that come in your mind related to IPO.

Shadowfax Technologies IPO is a Mainboard IPO having an issue size of Rs. ₹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.

Shadowfax Technologies IPO opens on 20 Jan 26 and closes on 22 Jan 26.

The estimated Grey Market Premium of Shadowfax Technologies IPO is ₹-4.1 per share (-3.31%).

The minimum lot size of Shadowfax Technologies IPO is 120 shares & the minimum application amount is Rs. 14880.

The allotment date of Shadowfax Technologies IPO is 23 Jan 26.

The listing date of Shadowfax Technologies IPO is 28 Jan 26.

Shadowfax Technologies IPO is subscribed 2.72 times.

Shadowfax Technologies IPO is priced at ₹118 - ₹124 per share.

Click the allotment link on Shadowfax Technologies IPO page of IPO360.

  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

  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

  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