IPO Listing: This company is ready for listing on NSE-BSE, has received 2.86 times subscription.

News Topical, Digital Desk : IPO Listing: Shares of logistics service provider Shadowfax Technologies are set to debut on Dalal Street on Wednesday, January 28. The company's shares will be listed on both the NSE and BSE exchanges today.

The company's ₹1,907 crore initial public offering (IPO) was subscribed 2.86 times on the final day of bidding. Bids were received for a total of 24.23 crore shares, against the 8.9 crore shares on offer. According to some reports, the grey market premium (GMP) of Shadowfax Technologies has gone into the negative zone. However, these reports have not been officially confirmed and the actual listing price may differ from the GMP trend. 

IPO Details The IPO was open for subscription between January 20 and January 22. The Bengaluru-based company offered its shares in a fixed price band of ₹118 to ₹124 per share. The issue comprised a fresh issue of ₹1,000 crore and an offer for sale (OFS) of ₹907 crore by existing shareholders. Under the OFS, Flipkart Internet, Eight Roads Investments Mauritius II Ltd, NewQuest Asia Fund IV, Nokia Growth Partners IV, International Finance Corporation, Mirae Asset, Qualcomm Asia Pacific and Snapdeal founders Kunal Bahl and Rohit Kumar Bansal sold a part of their stake. The funds raised from the fresh issue will be used to expand network infrastructure, pay lease payments for new first-mile, last-mile, and sorting centers, branding and marketing activities, potential inorganic acquisitions, and meet general corporate needs. Shadowfax is backed by prominent investors such as Flipkart, TPG, Eight Roads Ventures, Mirae Asset Ventures, and Nokia Growth Funds. The company's logistics network covers 14,758 pincodes across the country by September 2025. The company serves enterprise clients across e-commerce, quick commerce, food marketplaces, and on-demand mobility. Its key offerings include express forward parcel delivery, reverse logistics, hyperlocal, and critical logistics solutions. Shadowfax's revenue in H1FY26 was approximately ₹1,800 crore, representing a 68% year-on-year increase. The company's total revenue was ₹2,485 crore in FY25. The e-commerce express parcel segment accounts for approximately 70% of the company's total revenue, while hyperlocal and quick commerce logistics generate approximately 20% of revenue.
 

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