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 |
Dates20 Jan - 22 Jan |
GMP₹-4.1 (-3.31%) |
Subscriptions2.72 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
- Funding of capital expenditure requirements of the Company in relation to the network infrastructure
- Funding of lease payments for new first mile centers, last mile centers & sort centers
- Funding of branding, marketing & communication costs
- Unidentified inorganic acquisitions & general corporate purposes
Shadowfax Technologies IPO Details
Price Band₹118 - ₹124 |
Listing AtNSE & BSE |
IPO Issue Type100% 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
| 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
| 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
| 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
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Visit WebsiteFrequently 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.
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