Archive · 20 Jan 2026
Shadowfax Technologies Launches ₹1,907 Crore IPO
Shadowfax Technologies is a company that helps other businesses deliver packages all over India.
They are offering shares to the public to raise money for growing their business.
The company has been growing quickly and has started making a profit.
They use a lot of delivery partners and lease trucks and properties to keep costs low.
Investors can buy shares starting from 20 January 2026.
The company serves many big clients like Flipkart, Swiggy, and Zomato.
Some experts think the IPO is priced a bit high compared to similar companies, but the company has good growth prospects.
Shadowfax Technologies is launching an IPO to raise ₹1,907 crore, with a price band of ₹118–124 per share.
The IPO consists of a fresh issue of ₹1,000 crore and an OFS of ₹907 crore, with funds to be used for network expansion, lease payments, and acquisitions.
The company has shown strong revenue growth, with a 32.5% CAGR from FY23 to FY25, and has been EBITDA positive since FY24.
Shadowfax operates an asset-light model with over 4,299 touchpoints across 14,758 pin codes, serving major clients like Flipkart, Swiggy, and Zomato.
Broker views on the IPO are mixed, with some considering it slightly overvalued compared to peers, while others highlight the company's promising growth prospects.
- Who
- Shadowfax Technologies Ltd, a logistics solution provider in India
- What
- Shadowfax Technologies is launching an IPO to raise ₹1,907 crore, consisting of a fresh issue of ₹1,000 crore and an OFS of ₹907 crore
- When
- The IPO opens on 20 January 2026 and closes on 22 January 2026
- Where
- India
- Why
- To raise capital for network infrastructure expansion, lease payments, branding, marketing, and potential acquisitions
- IPO Opening Date
- 20 January 2026
- IPO Closing Date
- 22 January 2026
- IPO Size
- ₹1,907 crore
- Price Band
- ₹118–124 per share
- Fresh Issue
- ₹1,000 crore
- Offer for Sale (OFS)
- ₹907 crore
- Allotment Date
- 23 January 2026
- Listing Date
- 28 January 2026
- Lead Managers
- ICICI Securities, Morgan Stanley India, JM Financial
- QIB Allocation
- 75%
- NII Allocation
- 15%
- Retail Allocation
- 10%
- IPO Lot Size
- 120 equity shares
- Anchor Investors
- ₹856 crore raised from anchor investors at ₹124 per share
- Revenue (FY25)
- ₹2,485 crore
- Revenue (H1 FY26)
- ₹1,800 crore
- Revenue Growth (FY23-25)
- 32.5% CAGR
- EBITDA Positive
- Since FY24
- Asset Turnover
- Over 4x
- Logistics Network
- 4,299 touchpoints across 14,758 pin codes
- Operational Space
- Over 3.50 million sq ft, including 53 sort centres covering 1.80 million sq ft
- Clients
- Meesho, Flipkart, Myntra, Swiggy, Bigbasket, Zepto, Blinkit, Zomato, Uber, ONDC, Magicpin, among others
Sources
Shadowfox vs Delhivery: Fast growth, early profits—and a concentration risk investors can’t ignore
Shadowfax IPO opens Jan 20: Is this India’s next logistics game-changer? 5 ‘must-know’ details
Shadowfax Technologies IPO opens tomorrow: GMP, issue details, 10 key things to know
Shadowfax raises Rs 856 crore from anchor investors ahead of IPO
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Shadowfax Technologies IPO: ₹1,907 cr issue opens today in ₹118-124 band
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