Shadowfax Technologies IPO Final Day: QIB participation remains muted so far, retail demand strong—Should you apply?

Shadowfax IPO: The initial public offering (IPO) of Shadowfax Technologies entered into the last day of its public bidding on Thursday, January 22, 2025, with the issue subscribed 71 per cent so far, according to the provisional exchange data. The issue has witnessed strong demand from the retail category.

Shadowfax Technologies IPO subscription status

As of 1:30 pm, investors have bid for around 6.28 crore shares out of the total shares on offer. The subscription includes bids of 1.90 crore, 1.15 crore, and 3.14 crore shares from institutional buyers, investors, and the retail category, respectively.

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Specifically, QIB, NII and RII quotas have booked 0.39, 0.48 and 1.95 times the net offer, respectively.

Shadowfax Technologies IPO details

Shadowfax Technologies IPO is a book-building issue of Rs 1,907.27 crore, consisting of a fresh issue of 8.06 crore shares (Rs 1,000 crore) and an offer-for-sale (OFS) of 7.32 crore shares (Rs 907.27 crore).

As per the RHP, ICICI Securities Ltd is the book-running lead manager, while Kfin Technologies Ltd is the registrar of the issue.

Shadowfax Technologies IPO investor category details

The IPO has reserved around 75 per cent, 15 per cent and 10 per cent of the net offer for the QIB, NII and retail investor categories, respectively.

Shadowfax Technologies IPO price band, lot size

The IPO price band is fixed at Rs 118 to Rs 124 per equity share, valuing the company at around Rs 7,168.85 crore, at the upper end of the price band.

The minimum investment required for the retail category is Rs 14,880, at the upper end of the price band. This translates to a lot size of 120 shares for the retail quota.

Shadowfax IPO: Key dates, allotment and listing timeline

The IPO opened for public subscription on January 20 and will close on Thursday, January 22, with the final subscription status being available on the exchanges at around 7 pm.

The basis of allotment of the Shadowfax IPO shares is expected to be finalised on January 23, 2026, followed by the crediting of the shares in the demat accounts of successful bidders.

Shares of Shadowfax Technologies are likely to list on the stock exchanges (BSE and NSE) on January 28, 2026.

Shadowfax Technologies IPO: Should you apply?

Earlier, the market guru and Zee Business shared his key insights on the public offer of Shadowfax Technologies.

For investors, Singhvi advised that those with a higher risk appetite and a two-year investment horizon may consider applying for the IPO for the long term.

For short-term investors, he said limited listing gains could be possible, depending on market conditions, and advised placing a suitable stop loss after listing to protect capital.

Shadowfax Technologies company profile

Shadowfax Technologies Ltd, a logistics solution provider firm in India, was incorporated in June 2016. The firm provides e-commerce express parcel delivery and a variety of additional services.

Among the company’s major service offerings are e-commerce and direct-to-consumer delivery, hyperlocal & quick commerce in hours or same day, and SMS & personal courier services via Shadowfax's Flash app.

Financially, Shadowfax Technologies (FY2025) recorded a total revenue growth of Rs 2,514.66 crore and its first-ever profit with a PAT of Rs 6.06 crore, thus reversing the losses incurred in past years (FY24 loss of Rs 11.88 crore).