Shadowfax Technologies Limited
NSE: SHADOWFAXBSE: SHADOWFAX
MAINBOARDCLOSED
Grey Market Premium*
UPDATED: 22-Jan-2026 18:27₹-3.5-2.82%
Est. Listing*₹120.5
Upper band ₹124
* GMP indicative only. Not investment advice.
GMP sourced from IPO Guru
Subscription Status
| Category | Offered | Bids | Times (x) |
|---|---|---|---|
| QIB | 4,60,22,638 | 18,40,33,800 | 4.00x |
| HNI | 2,30,11,319 | 2,03,13,840 | 0.88x |
| Retail | 1,53,40,879 | 3,71,64,720 | 2.42x |
| Employee | 4,03,226 | 8,76,000 | 2.17x |
| Total | 8,47,78,062 | 24,23,88,360 | 2.86x |
Financial Performance
Figures in ₹ Crores unless specified
| Metric | Sep-25 | Mar-25 | Mar-24 | Mar-23 |
|---|---|---|---|---|
| Assets | 1453.16 | 1259.26 | 786.14 | 442.73 |
| Total Income | 1819.8 | 2514.66 | 1896.48 | 1422.89 |
| PAT | 21.04 | 6.43 | -11.88 | -142.64 |
| EBITDA | 64.34 | 56.19 | 11.37 | -113.47 |
| Net Worth | 693.53 | 660.43 | 421.78 | 176.32 |
| Reserves | 281.26 | 248.16 | 172.47 | 171.2 |
| Total Borrowing | 147.44 | 132.23 | 40.33 | 66.69 |
Key Performance Indicators
| KPI | Sep-25 | Mar-25 | Mar-24 |
|---|---|---|---|
| RoNW (%) | 3.03 | 0.97 | -2.82 |
| EPS (₹) | 0.41 | 0.13 | -0.28 |
| P/E (Pre) | - | 1017.96 | - |
| P/E (Post) | 170.39 | - | - |
IPO Details
Price Band
₹118 - ₹124120 Shares
Lot Size
120 Shares
Total Issue Size
₹1,907.27 Cr15,38,12,017 Shares
Fresh Issue
₹1,000 Cr8,06,45,161 Shares
Offer for Sale
₹907.27 Cr7,31,66,935 Shares
Face Value
₹10
Listing At
NSE, BSE
Dates
IPO Open
20 Jan 2026
IPO Close
22 Jan 2026
Allotment
23 Jan 2026
Listing
28 Jan 2026
IPO Open20 Jan 2026
IPO Close22 Jan 2026
Allotment23 Jan 2026
Listing28 Jan 2026
Lot Size & Investment Limits
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail | 1 | 120 | 14880 |
| sHNI | 14 | 1680 | 208320 |
| bHNI | 68 | 8160 | 1011840 |
Peer Comparison
| Company | CMP (₹) | P/E Ratio | ROE (%) |
|---|---|---|---|
| Blue Dart Express Limited | - | 50.7 | 17.25% |
| Delhivery Limited | - | 195.07 | 1.75% |
About Shadowfax Technologies Limited
Shadowfax Technologies Limited is a technology-led logistics provider serving e-commerce, quick commerce and hyperlocal delivery across India.
Company Information
Registered Address
3rd Floor, Shilpitha Tech Park, Bellandur, Bengaluru 560103
Lead Managers
- ICICI Securities Limited
- JM Financial Limited
- Morgan Stanley India Company Pvt Ltd
Company Strengths (from RHP)
- ✓Agile logistics platform
- ✓Largest gig-based last-mile network
- ✓Robust nationwide backbone
Key Risks (from RHP)
- ⚠Operating losses
- ⚠Network concentration risk
- ⚠High client dependence
Objects of the Issue
• Network infrastructure capex
• Lease payments
• Branding & marketing
• Inorganic acquisitions
Subscription Status
| Category | Offered | Bids | Times (x) |
|---|---|---|---|
| QIB | 4,60,22,638 | 18,40,33,800 | 4.00x |
| HNI | 2,30,11,319 | 2,03,13,840 | 0.88x |
| Retail | 1,53,40,879 | 3,71,64,720 | 2.42x |
| Employee | 4,03,226 | 8,76,000 | 2.17x |
| Total | 8,47,78,062 | 24,23,88,360 | 2.86x |
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Disclaimer
Data on OpenIPO is for informational purposes only and is not investment advice. OpenIPO is not a SEBI-registered entity. GMP figures are unofficial estimates and may vary. Verify all details from the company RHP and official registrar websites before making decisions.