Shadowfax Technologies IPO
Shadowfax Technologies IPO Details
-
Open Date
20 Jan 2026
-
Close Date
22 Jan 2026
-
Listing Date
28 Jan 2026
- IPO Price Range
₹ 118 to ₹124
- IPO Size
₹ 1,907.27 Cr
- Listing Exchange
BSE NSE
Shadowfax Technologies IPO Timeline
Shadowfax Technologies IPO Subscription Status
| Date | QIB | NII | Retail | TOTAL |
|---|---|---|---|---|
| 20-Jan-2026 | 0.00 | 0.04 | 0.30 | 0.07 |
Last Updated: 20 January 2026 10:41 AM by 5paisa
About Shadowfax Technologies
Shadowfax Technologies Ltd is an Indian logistics solutions provider offering e-commerce express, D2C, hyperlocal, quick commerce, and courier services. Its nationwide asset-light network spans 4,299 touchpoints across 14,758 pin codes, supported by 3.50 million sq ft of operational space and 53 sort centres. The company operates over 3,000 trucks daily, serves major digital platforms, and enables end-to-end last-mile delivery across India.
Established in: 2016
Managing Director: Abhishek Bansal
Peers:
| Metric | Shadowfax Technologies Limited |
Blue Dart Express Limited |
Delhivery Limited |
|
Total Income |
2514.66 | 5762.16 | 9372.01 |
| Face Value (₹ per share) | 10 | 10 | 1 |
|
P/E |
NA | 50.70 | 195.07 |
| P/B | NA | 8.21 | 3.35 |
|
EPS (Basic) (₹) |
0.13 | 106.38 | 2.19 |
|
EPS (Diluted) (₹) |
0.13 | 106.38 | 2.14 |
| Return on Net Worth (RoNW) (%) | 0.97 | 17.25 | 1.75 |
| NAV | 13.83 | 657.05 | 124.77 |
Shadowfax Technologies Objectives
1. The company funds infrastructure capex ₹423.43 crore.
2. Funds lease payments for logistics centres ₹138.64 crore.
3. Supports branding, marketing, communications spend ₹88.57 crore.
4. Enables inorganic acquisitions and corporate purposes, unspecified amount.
Shadowfax Technologies IPO Size
| Types | Size |
|---|---|
| Total IPO Size | ₹1907.27 Cr |
| Offer For Sale | ₹907 Cr |
| Fresh Issue | ₹1,000 Cr |
Shadowfax Technologies IPO Lot Size
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 1 | 120 | 14,160 |
| Retail (Max) | 13 | 1,560 | 1,93,440 |
| S-HNI (Min) | 14 | 1,680 | 1,98,240 |
| S-HNI (Max) | 67 | 8,040 | 9,96,960 |
| B-HNI (Min) | 68 | 8,160 | 9,62,880 |
Shadowfax Technologies IPO Reservation
| Investors Category | Subscription (times) | Shares Offered* | Shares bid for | Total Amount (Cr.)* |
|---|---|---|---|---|
| QIB (Ex Anchor) | 0.00 | 4,60,22,638 | 0 | 0 |
| Non-Institutional Buyers | 0.04 | 2,30,11,319 | 8,49,480 | 10.534 |
| bNII (bids above ₹10L) | 0.01 | 1,53,40,879 | 1,89,720 | 2.353 |
| sNII (bids below ₹10L) | 0.09 | 76,70,440 | 6,59,760 | 8.181 |
| Individual Investors (IND category bidding for 2 Lots) | 0.30 | 1,53,40,879 | 45,77,040 | 56.755 |
| Total** | 0.07 | 8,47,78,062 | 55,11,360 | 68.341 |
*The "Shares Offered" and "Total Amount" are calculated using the upper limit of the issue price range.
**Shares allocated to anchor investors (or market makers) are excluded from the total number of shares offered.
| Particulars (In ₹ Crores) | FY23 | FY24 | FY25 |
| Revenue | 1415.12 | 1884.82 | 2485.13 |
| EBITDA | -101.65 | 19.29 | 48.67 |
| PAT | -142.64 | -11.88 | 6.43 |
| Particulars (In ₹ Crores) | FY23 | FY24 | FY25 |
| Total Assets | 442.73 | 786.14 | 1259.26 |
| Share Capital | 0.23 | 0.24 | 151.79 |
| Total Liabilities | 231.42 | 344.34 | 493.88 |
| Cash Flows (₹ Crores) | FY23 | FY24 | FY25 |
| Net Cash Generated From / (used in) Operating Activities | -72.83 | 131.55 | 49.87 |
| Net Cash Generated From / (used in) Investing Activities | -39.80 | -311.49 | 119.27 |
| Net Cash Generated From / (used in) Financing Activities | 89.61 | 200.36 | 130.39 |
| Net Increase (Decrease) in Cash and Cash Equivalents | -23.03 | 20.42 | 60.99 |
Strengths
1. Extensive nationwide network across 14,758 pin codes
2. Asset-light model with owned automation capabilities scalable
3. Diverse client base across e-commerce segments nationwide
4. Strong delivery partner platform and fleet scale
Weaknesses
1. High dependence on leased infrastructure and linehaul
2. Thin margins typical of competitive logistics sector
3. Operational complexity managing large delivery workforce nationwide
4. Exposure to volume concentration from key clients
Opportunities
1. Rapid growth in Indian e-commerce demand nationwide
2. Expansion of quick commerce and hyperlocal services
3. Technology-led efficiency improvements through automation investments scalable
4. Potential inorganic acquisitions to strengthen network reach
Threats
1. Intense competition from established and emerging logistics players
2. Regulatory changes affecting gig workforce engagement models
3. Client insourcing of logistics and delivery capabilities
4. Rising fuel and operating costs impacting profitability
1. Large, growing e-commerce logistics market opportunity
2. Asset-light model supports scalable, low-capex growth
3. Strong client base with repeat business potential
4. Tech-enabled operations enhancing competitive differentiation
Shadowfax operates in India’s rapidly expanding logistics sector, driven by e-commerce, quick commerce and hyperlocal demand. Its extensive network, asset-light model and strong tech platform support scalable growth. With rising online penetration and delivery expectations, Shadowfax is well positioned to increase market share, improve efficiency and expand service offerings, capitalising on long-term structural demand across the logistics ecosystem.
- Companies
- Type
- Opening On
-
KRM Ayurveda
- SME
- 21st Jan
- Pre-Book
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FAQs
Shadowfax Technologies IPO opens from January 20, 2025 to January 22, 2026.
The size of Shadowfax Technologies IPO is ₹1,907.27.
The price band of Shadowfax Technologies IPO is fixed at ₹118 to ₹124.
To apply for Shadowfax Technologies IPO, follow the steps given below:
● Login to your 5paisa demat account and select the issue in the current IPO section
● Enter the number of lots and the price at which you wish to apply for the Shadowfax Technologies. IPO.
● Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange.
You will receive a mandate notification to block funds in your UPI app.
The minimum lot size of Shadowfax Technologies IPO is of 120 shares and the investment required is ₹14,160.
The share allotment date of Shadowfax Technologies IPO is January 23, 2026
The Shadowfax Technologies IPO will likely be listed on January 28, 2026.
ICICI Securities Ltd is the book running lead managers for Shadowfax Technologies IPO.
Shadowfax Technologies IPO plans to utilise the raised capital from the IPO for:
1. The company funds infrastructure capex ₹423.43 crore.
2. Funds lease payments for logistics centres ₹138.64 crore.
3. Supports branding, marketing, communications spend ₹88.57 crore.
4. Enables inorganic acquisitions and corporate purposes, unspecified amount.
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