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IPO ·
BSE, NSE
Shadowfax Technologies Ltd
Listed
Incorporated in June 2016, Shadowfax Technologies Ltd is a logistics solution provider company in India.
Issue details
Price band
₹118 – ₹124
Face value
₹10
Lot size
120 shares
Minimum investment
₹14,880
Issue size
₹1907.27 Cr
Fresh issue
₹1000.00 Cr
Offer for sale
₹907.27 Cr
Issue type
Book Built
Exchange
BSE, NSE
Key dates
Opens
20 Jan 2026
Closes
22 Jan 2026
UPI mandate cut-off
5:00 PM on 22 Jan 2026
Allotment
23 Jan 2026
Refunds
27 Jan 2026
Shares in demat
27 Jan 2026
Listing
28 Jan 2026
Subscription and listing
Subscription
2.02x
Listing price
₹112.60
Registrar
Kfin Technologies Ltd
Lead manager
ICICI Securities, Morgan Stanley India Co., JM Financial
Subscription by category
Total
2.02x
Total applications
2,25,816
Anchor investors
Amount raised
₹856.02 Cr
Bid date
19 Jan 2026
50% lock-in ends
21 Feb 2026
Rest lock-in ends
22 Apr 2026
Listing day
Issue price
₹124
Open
₹112.60
High
₹119.67
Low
₹109.00
Day close
₹109.98
Listing gain at open
-9.19%
Issue structure
Shares reserved per category and share of the total issue
QIB Shares Offered
11,50,56,593
74.80%
Anchor Investor Shares Offered
6,90,33,955
44.88%
QIB (Ex. Anchor) Shares Offered
4,60,22,638
29.92%
NII Shares Offered
2,30,11,318
14.96%
bNII > ₹10L
1,53,40,879
9.97%
sNII < ₹10L
76,70,439
4.99%
Retail Shares Offered
1,53,40,878
9.97%
Employee Shares Offered
4,03,225
0.26%
Total Shares Offered
15,38,12,014
100.00%
Finaccle’s quick read
Neutral
FY25 income up 33%, D/E 0.21, post-issue P/E 170.39x.
A rules-based screen of growth, margins, debt and valuation, built from the offer document and data on Chittorgarh.com. It is for information only and is not investment advice or a recommendation to buy or sell. Read the RHP and speak to a SEBI-registered adviser before you apply.
About the company
Incorporated in June 2016, Shadowfax Technologies Ltd is a logistics solution provider company in India. The company offers e-commerce express parcel delivery and a suite of value-added offerings. Its service offerings include e-commerce and D2C delivery, hyperlocal & quick commerce within hours or same day, and SMS & personal courier services through Shadowfax's Flash app. The company's nationwide logistics network includes 4,299 touchpoints across first- and last-mile centres and sort centres as of September 30, 2025, serving 14,758 pin codes.
Founded
Promoters
Promoter holding
Financial performance
Period
PAT
ROE
—
ROCE
—
Debt / equity
0.21
PAT margin
—
P/E post issue
170.39
Market cap
₹7,168.85 Cr
Use of IPO money
Funding of capital expenditure requirements of the Company in relation to the network infrastructure
₹423.43 Cr
Funding of lease payments for new first mile centers, last mile centers and sort centers
₹138.64 Cr
Funding of branding, marketing and communication costs
₹88.57 Cr
Unidentified inorganic acquisitions and general corporate purposes
₹291.94 Cr
Issue Expenses
₹109.51 Cr
Strengths
✓
Revenue up 33% in FY25 to ₹2,514.66 Cr
✓
Moderate leverage: debt to equity 0.21
Risks to watch
!
Rich valuation: post-issue P/E of 170.39x
!
48% of the issue is an offer for sale by existing shareholders
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Last updated:
Information is compiled from exchange notices and the company’s offer document. It is for general information only and is not investment advice or a recommendation to apply. Read the prospectus before investing.