Shadowfax Technologies Limited
NSE: SHADOWFAXBSE: SHADOWFAX
MAINBOARD
CLOSED
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.
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
- ✓Agile logistics platform
- ✓Largest gig-based last-mile network
- ✓Robust nationwide backbone
Key Risks
- ⚠Operating losses
- ⚠Network concentration risk
- ⚠High client dependence
Objects of the Issue
• Network infrastructure capex
• Lease payments
• Branding & marketing
• Inorganic acquisitions
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.
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 |
Disclaimer
Investment in Pre-IPO/Unlisted Shares/IPO is subject to market risks. OpenIPO.in is not a SEBI registered entity. The information provided here is for educational purposes only and should not be considered as financial advice. GMP prices are estimated based on market rumors and may vary. Please consult your financial advisor before making any investment decisions.