Shadowfax Technologies IPO
Open MainLineCurrent GMP
₹0 (0.00%)
Price Band
₹ 118 – 124
Lot Size
120
Issue Size
₹1907 Cr
Minimum Investment
₹14880 (120 Shares)
Listing Date
28 January 2026
Subscription
2.72x
About the Company
Shadowfax Technologies Ltd
Incorporated: June 2016
Headquarters: India
Industry: Logistics & Supply Chain Solutions
Overview:
Shadowfax Technologies Ltd is one of India’s leading logistics solution providers, specializing in technology-driven, end-to-end delivery services. The company offers comprehensive logistics solutions covering e-commerce express parcel delivery, direct-to-consumer (D2C) fulfillment, hyperlocal and quick commerce, and personal courier services through its Flash app.
Service Offerings:
- E-commerce and D2C Delivery: Nationwide parcel delivery for online and direct-to-consumer businesses.
- Hyperlocal & Quick Commerce: Rapid delivery services, including same-day and intra-hour deliveries.
- Flash App Services: SMS and personal courier services designed for individuals and small businesses.
Operational Network (as of September 30, 2025):
- Total Touchpoints: 4,299 across India, including first-mile, last-mile, and sort centers.
- Coverage: 14,758 pin codes nationwide.
- Operational Space: Over 3.50 million sq. ft., including:
- 53 sort centers covering 1.80 million sq. ft. for shipment consolidation, sorting, and dispatch.
- Fleet: Operates a dedicated fleet of over 3,000 trucks daily within an asset-light linehaul network.
- Facilities: Leased logistics infrastructure and linehaul assets, with owned automation and machinery for operational control.
Workforce (as of September 30, 2025):
- Permanent Employees: 4,472
- Contract Workers: 17,182
- Average Quarterly Unique Transacting Delivery Partners: 205,864
Clientele:
Shadowfax serves a wide range of top-tier clients across e-commerce, food delivery, and hyperlocal segments, including:
Meesho, Flipkart, Myntra, Swiggy, BigBasket, Zepto, Nykaa, Blinkit, Kartrocket, Zomato, Uber, Pincode, Purplle, Licious, ONDC, Magicpin, among others.
Market Position:
With its extensive reach, technology-led operations, and diversified service portfolio, Shadowfax Technologies Ltd stands as India’s only large-scale logistics provider offering integrated last-mile, end-to-end e-commerce delivery, and hyperlocal services, including quick commerce and food delivery.
Promoters
- Abhishek Bansal
- Vaibhav Khandelwal
Promoters Holding
Holding Pre Issue
19.13%
Holding Post Issue
0.00%
Objects of the Issue
The Company Shadowfax Technologies IPO proposes to utilise the Net Proceeds from the Issue towards the following objects.
- Funding of capital expenditure requirements of our Company in relation to our network infrastructure
- Funding of lease payments for new first mile centers, last mile centers and sort centers
- Funding of branding, marketing and communication costs
- Unidentified inorganic acquisitions and general corporate purposes
Address / Contact Info
Shadowfax Technologies Ltd.
3rd Floor, Shilpitha Tech Park
Sy No. 55/3 & 55/4, Outer Ring Road,
Devarabisanahalli Village,Bellandur, Varthur Hobli
Bengaluru, Karnataka, 560103
Email: hello@shadowfax.in
Website: https://www.shadowfax.in/
IPO Snapshot
IPO Timeline (Tentative)
IPO Open Date
Tuesday, 20 January 2026
IPO Close Date
Thursday, 22 January 2026
Basis of Allotment
Friday, 23 January 2026
Initiation of Refunds
Tuesday, 27 January 2026
Credit of Shares to Demat
Tuesday, 27 January 2026
Listing Date
Wednesday, 28 January 2026 — NSE & BSE
Important Dates
Open Date
20 January 2026
Close Date
22 January 2026
Basis Of Allotment
23 January 2026
Listing Date
28 January 2026
Financial Performance (₹ in Crores)
| Particular | 30 Sep 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets | 1453.16 | 1259.26 | 786.14 | 442.73 |
| Revenue | 1819.8 | 2514.66 | 1896.48 | 1422.89 |
| Profit After Tax | 21.04 | 6.43 | -11.88 | -142.64 |
| Net Worth | 693.53 | 660.43 | 421.78 | 176.32 |
| Reserve & Surplus | 281.26 | 248.16 | 172.47 | 171.2 |
| Total Borrowings | 147.44 | 132.23 | 40.33 | 66.69 |
EPS Pre
0.12%
EPS Post
0.73%
P/E Pre
1,017.96
P/E (Post Issue)
170.39x
Company Financial Information
KPI Information (₹ in Crores)
| Particular | Sep 2025 | Mar 2025 | Mar 2024 | Mar 2023 |
|---|---|---|---|---|
| ROE % | 0 | 0 | 0 | 0 |
| ROCE % | 0 | 0 | 0 | 0 |
| Debt / Equity | 0.21 | 0.2 | 9.56 | 37.83 |
| RoNW % | 3.03 | 0.97 | -2.82 | -80.9 |
| PbW | 0 | 0 | 0 | 0 |
| Pat Margin % | 0 | 0 | 0 | 0 |
Return Ratio
IPO Reservations
| Category | Shares Offered | Shares Offered % | Max Allotee |
|---|---|---|---|
| Qualified Institutions | 48362771 | 54.29 | 0 |
| Non-Institutional | 24181385 | 27.14 | 0 |
| BNII | 16120924 | 18.1 | 0 |
| SNII | 8060461 | 9.05 | 0 |
| Retail Investors | 16120923 | 18.1 | 0 |
| Employees | 423728 | 0.48 | 0 |
| Total | 89088807 | 100 | 0 |
Subscription Status ( Thu, 22 Jan 26 01:30 PM)
| Category | Shares Offered | Shares Bid For | Subscription (x) |
|---|---|---|---|
| Qualified Institutions | 48362771 | 184033800 | 3.81x |
| Non-Institutional | 24181385 | 20313840 | 0.84x |
| BNII | 16120924 | 10119600 | 0.63x |
| SNII | 8060461 | 10194240 | 1.26x |
| Retail Investors | 16120923 | 37164720 | 2.31x |
| Employees | 423728 | 876000 | 2.07x |
| Total | 89088807 | 242388360 | 2.72x |
Subscription figures are updated periodically and may change until issue closing. Data reflects bids placed across exchanges.
Peer Comparision
| Company | Face Value | PE Ratio | EPS Basic | EPS Diluted | RoNW | Net Assets |
|---|---|---|---|---|---|---|
| Shadowfax Technologies Ltd | 10 | 0.00 | 0.13 | 0.13 | 0.97 | 13.83 |
| Blue Dart Express Ltd | 10 | 50.70 | 106.38 | 106.38 | 17.25 | 657.05 |
| Delhivery Limited | 1 | 195.07 | 2.19 | 2.14 | 1.75 | 124.77 |
Lot Size & Investment Details
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 1 | 120 | 14,880.00 |
| Retail (Max) | 13 | 1,560 | 193,440.00 |
| S-HNI (Min) | 14 | 1,680 | 208,320.00 |
| S-HNI (Max) | 67 | 8,040 | 996,960.00 |
| B-HNI (Min) | 68 | 8,160 | 1,011,840.00 |
Registrar
Kfin Technologies Limited
04067162222, 04079611000
reachus@kfintech.com
https://www.kfintech.com
Book Running Lead Managers
- Morgan Stanley India Company Private Limited
- ICICI Securities Limited
- JM Financial Limited
RHP Document
DRHP Document
Anchor Investors
Disclaimer: This data is for informational purposes only and does not constitute investment advice. Figures shown are illustrative sample data.
Frequently Asked Questions
Everything you need to know before applying to an IPO.
Shadowfax Technologies IPO is a Book-building IPO worth ₹1907 crores. The price band is ₹118 to 124 per share. The IPO opens on Tue, Jan 20, 2026 and closes on Thu, Jan 22, 2026. It will be listed on BSE and NSE. Kfin Technologies Limited is the registrar.
The Shadowfax Technologies IPO opens on Tue, Jan 20, 2026 and closes on Thu, Jan 22, 2026
Shadowfax Technologies IPO Price Band is ₹118 to 124.
Shadowfax Technologies IPO lot size is 120, and the minimum amount required for application is ₹14880.
The minimum investment for Shadowfax Technologies IPO is approximately ₹14880 based on the upper price band.
To apply for the Shadowfax Technologies IPO, investors can use the ASBA (Application Supported by Blocked Amount) process via their bank's net banking or apply through UPI using a registered broker or trading app. The IPO is available in retail, HNI, and institutional investor categories. Investors must select the lot size, enter bid details within the price band, and submit their application before the IPO closing date of Thu, Jan 22, 2026. After submission, funds are blocked until the basis of allotment of Shadowfax Technologies IPO is finalised.
Shadowfax Technologies IPO issue size is ₹1907 crores.
Shadowfax Technologies IPO allotment date is Sat, Jun 27, 2026.
The registrar for Shadowfax Technologies IPO is Kfin Technologies Limited. Investors can go to Kfin Technologies Limited website for IPO allotment status, refund processing, and other queries related to Shadowfax Technologies IPO through their official website or helpline.
The Shadowfax Technologies IPO GMP (Grey Market Premium) is ₹0 as of Fri, Jan 23, 2026. Based on the upper price band of ₹124 per share, the estimated Shadowfax Technologies IPO listing price is ₹124, indicating a potential listing gain of approximately 31% over the issue price.