Shadowfax IPO open date is January 20, 2026 and the IPO will close on January 22, 2026. Shadowfax Technologies IPO is a Book Built Issue. The company to raise around ₹2,000 crores via IPO that comprises fresh issue of ₹1907.27 crores and offer for sale up to [.] equity shares with face value of ₹10 each.
Shadowfax Technologies IPO price band is ₹118 to ₹124 per share. The retail quota is 10%, QIB is 75%, and HNI is 15%. Shadowfax Technologies IPO to list on BSE, NSE on January 28, 2026. The allotment of Shadowfax Technologies IPO date is January 23, 2026.
The company reported revenue of ₹2,514.66 crores in 2025 against ₹1,896.48 crores in 2024. The company reported profit of ₹6.43 crores in 2025 against loss of ₹11.88 crores in 2024. As per the financials the IPO investors should apply the IPO for a long term.
Shadowfax Technologies
January 20, 2026 – January 22, 2026
| GMP Rumors * | ₹16 |
|---|---|
| Price | ₹118 - ₹124 |
| Lot size | 120 |
| Issue size | ₹1907.27 cr |
| Allotment | Jan 23, 2026 |
| Listing | Jan 28, 2026 |
Shadowfax Technologies Lot(s) Distribution
| Category | Lot(s) | Qty | Amount | Reserved |
|---|---|---|---|---|
| Retail | 1 | 120 | 14880 | 127841 |
| sHNI | 14 | 1680 | 208320 | 4566 |
| bHNI | 68 | 8160 | 1011840 | 9131 |
Shadowfax Technologies Reservation
| Category | Shares Offered | % |
|---|---|---|
| Total | 153812017 | 100% |
| QIB | 115056593 | 74.8% |
| HNI | 23011319 | 14.96% |
| Retail | 15340879 | 9.97% |
| Employee | 403226 | 0.26% |
Shadowfax Technologies About
IPO Details
| Total Issue Size | * shares (aggregating up to ₹1,907.27 Cr) |
| Fresh Issue | * shares (aggregating up to ₹1,000.00 Cr) |
| Offer For Sale | * shares (aggregating up to ₹907.27Cr) |
| Face Value | ₹10/- Per Share |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE NSE |
| Share Holding Pre Issue | 497,488,085 Equity Shares |
IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not less than 75% of the Net Offer |
| Retail Shares Offered | Not more than 10% of the Net Offer |
| NII Shares Offered | Not more than 15% of the Net Offer |
Key Performance Indicators (KPI)
| KPI | Sep-25 | Mar-25 | Mar-24 |
|---|---|---|---|
| RONW | 3.03% | 0.97% | -2.82% |
| EPS (BASIC) | 0.41 | 0.13 | -0.28 |
Company Financial (In ₹Crore)
| Period Ended | Sep-25 | Mar-25 | Mar-24 | Mar-23 |
|---|---|---|---|---|
| Assets | 1,453.16 | 1,259.26 | 786.14 | 442.73 |
| Total Income | 1,819.80 | 2,514.66 | 1,896.48 | 1,422.89 |
| Profit After Tax | 21.04 | 6.43 | -11.88 | -142.64 |
| EBITDA | 64.34 | 56.19 | 11.37 | -113.47 |
| NET Worth | 693.53 | 660.43 | 421.78 | 176.32 |
| Reserves and Surplus | 281.26 | 248.16 | 172.47 | 171.2 |
| Total Borrowing | 147.44 | 132.23 | 40.33 | 66.69 |
About Company
Incorporated in June 2016, Shadowfax Technologies Ltd is a technology-led logistics solutions provider in India, focused on e-commerce, D2C, hyperlocal, quick commerce, and personal courier services.
Service offerings include e-commerce express parcel delivery, same-day & quick commerce, hyperlocal delivery, and SMS & personal courier services via the Shadowfax Flash app.
Operates a nationwide logistics network with 4,299 touchpoints across first-mile, last-mile, and sort centres, covering 14,758 pin codes as of September 30, 2025.
Supported by 3.50+ million sq. ft. operational space, including 53 sort centres (1.80 million sq. ft.), enabling large-scale shipment consolidation and dispatch.
Follows an asset-light model by leasing facilities and linehaul while owning automation and machinery; operates 3,000+ trucks daily through its linehaul network.
Platform supported by 205,864 average quarterly unique delivery partners and a workforce of 4,472 permanent employees and 17,182 contractual workers (as of Sept 30, 2025).
Serves leading clients including Meesho, Flipkart, Myntra, Swiggy, BigBasket, Zepto, Nykaa, Blinkit, Zomato, Uber, ONDC, Magicpin, Licious, and others, making it a large-scale end-to-end last-mile and quick commerce logistics provider.
IPO proceeds will be used for network infrastructure capex (₹423.43 cr), lease payments for new centres (₹138.64 cr), branding & marketing (₹88.57 cr), and inorganic acquisitions & general corporate purposes.
Strength
Agile and customisable logistics platform – Enables faster go-to-market and scalable delivery solutions for clients.
Largest gig-based last-mile delivery infrastructure – Deep penetration supports e-commerce, quick commerce, and hyperlocal demand.
Robust nationwide network backbone – Extensive touchpoints and automation drive efficiency and scalability.
Weakness
Losses and negative cash flows – History of operating losses and negative cash flows may continue due to high growth investments.
Network concentration risk – Heavy reliance on a large, integrated logistics network means disruptions can materially impact operations.
High client concentration – Largest client contributes ~49–59% of revenue; loss of a key relationship could significantly affect performance.
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