
Technology / Consumer Discretionary · NSE / BSE
Incorporated in June 2016, Shadowfax Technologies Ltd is a technology-led logistics solutions provider in India focused on e-commerce, D2C, hyperlocal, quick commerce, and personal courier services, offering solutions such as express parcel delivery, same-day and quick commerce, hyperlocal delivery, and personal courier services through the Shadowfax Flash app. The company operates a nationwide logistics network with 4,299 touchpoints across first-mile, last-mile, and sort centres, covering 14,758 pin codes as of September 30, 2025, supported by over 3.50 million sq. ft. of operational space including 53 sort centres. Following an asset-light model, it leases facilities and linehaul while owning automation and machinery, operating over 3,000 trucks daily and supported by an average of 205,864 quarterly unique delivery partners, along with 4,472 permanent employees and 17,182 contractual workers. Shadowfax serves leading clients such as Meesho, Flipkart, Myntra, Swiggy, BigBasket, Zepto, Nykaa, Blinkit, Zomato, Uber, ONDC, and others, and plans to utilize IPO proceeds for network expansion capex, lease payments, branding and marketing, inorganic acquisitions, and general corporate purposes.
Price Band
₹118 – ₹124
Issue Size
₹1907 Cr
Lot Size
120 shares
GMP
-3.2%
Est. Listing
₹120
at current GMP
Subscribed
2.86x
overall
Open
20 Jan 2026
Close
22 Jan 2026
Allotment
23 Jan 2026
Refund
24 Jan 2026
Demat Credit
25 Jan 2026
Listing
28 Jan 2026
Overall Subscription
2.86x
Total Demand
QIB Multiplier
4.00x
Institutions & Funds
NII / HNI
0.88x
High Net-Worth
Retail (RII)
2.42x
Individual Bidders
Live bidding breakdown by institutional, non-institutional, and retail investors
| Category | Shares Offered | Shares Applied / Bid | Times Subscribed |
|---|---|---|---|
| QIB | 46,022,638 | 184,033,800 | 4.00x |
| NIB | 23,011,319 | 20,313,840 | 0.88x |
| HNIs(10L +) | 15,340,879 | 10,119,600 | 0.66x |
| HNIs (2-10L) | 7,670,440 | 10,194,240 | 1.33x |
| RETAIL | 15,340,879 | 37,164,720 | 2.42x |
| EMPLOYEES | 403,226 | 876,000 | 2.17x |
| Total | 107,789,381 | 262,702,200 | 2.86x |
Total unique applications received across retail and HNI tranches
| Category | Applications Reserved | Applications Received | Times Subscribed |
|---|---|---|---|
| RETAIL | 127,841 | 229,070 | 1.79x |
| EMPLOYEES | — | 5,123 | 0.00x |
| HNIs(10L +) | 9,131 | 1,122 | 0.12x |
| HNIs (2-10L) | 4,566 | 5,417 | 1.19x |
| Total Applications | 141,538 | 240,732 | 1.70x |
Track continuous institutional and retail bidding order books for all active issues on the ipo live subscription feed.
Shadowfax Technologies Limited is bringing an initial public offering (IPO) in the Technology / Consumer Discretionary sector with an aggregate issue size of ₹1,907.27 Crores. The shares are offered at a price band of ₹118 to ₹124 per equity share on NSE and BSE. Currently, traders and retail applicants are calculating expected listing gains and break-even points based on unofficial grey market quotations.
Prospective investors can apply in the retail quota with a minimum of 1 lot comprising 120 shares (approx. ₹14,880 minimum investment). High net-worth individuals (HNI/NII) can bid in the sHNI (₹2 Lakh to ₹10 Lakh) or bHNI (above ₹10 Lakh) categories for enhanced quota allocation.
Allotment reconciliation will be managed by Kfin Technologies Limited. Eligible allottees will receive credit of equity shares into their Demat accounts by 2026-01-25, while un-allotted funds or UPI block mandates will be released on 2026-01-24.
Currently, Shadowfax Technologies Limited IPO Grey Market Premium (GMP) is not actively quoted or is quoted flat at ₹0. The shares are expected to list close to the issue price band of ₹118 to ₹124 per equity share.
The retail lot size is 120 shares requiring a minimum application amount of ₹14,880. Expected listing price is ₹120 per equity share.
The Shadowfax Technologies Limited IPO aggregate issue size is ₹1,907.27 Crores with an equity price band set at ₹118 to ₹124 per equity share. The retail lot size is 120 shares requiring a minimum capital outlay of approx. ₹14,880.
Live subscription figures are compiled real-time from the NSE and BSE bidding engines. Currently, overall subscription is 2.86x (Retail: 2.42x, QIB: 4.00x, NII: 0.88x). You can track live multiples directly on our dedicated subscription page.
The basis of allotment will be published on the official registrar portal (Kfin Technologies Limited) and the BSE status verification website on or around 2026-01-23. Investors can verify status using PAN card or application number.
Shadowfax Technologies Limited shares are scheduled to list on NSE and BSE on 2026-01-28.