Shadowfax IPO: Price Band Set ₹118-124 for Jan 20 Launch

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AuthorKavya Nair|Published at:
Shadowfax IPO: Price Band Set ₹118-124 for Jan 20 Launch
Overview

Logistics provider Shadowfax Technologies is launching its ₹1,907 crore IPO on January 20, 2026, with a price band of ₹118-124 per share. The offering includes a fresh issue to fund network expansion and an offer for sale from major investors like Flipkart. This IPO represents a significant opportunity in India's growing logistics sector.

Shadowfax Technologies Announces IPO Price Band

Shadowfax Technologies, a logistics solutions provider, has set its Initial Public Offering (IPO) price band between ₹118 and ₹124 per share. The company is scheduled to launch its maiden public issue on January 20, 2026. The subscription period will close on January 22, 2026.

IPO Size and Components

The total IPO size is ₹1,907 crore. This comprises a fresh issue of equity shares valued at ₹1,000 crore and an Offer for Sale (OFS) component aggregating up to ₹907.27 crore. Several existing investors, including Flipkart India, Eight Roads Investments Mauritius II, International Finance Corporation, and others, will divest a portion of their holdings through the OFS.

Company Operations and Network

Established in 2016, Shadowfax Technologies specializes in e-commerce express parcel delivery and offers a suite of logistics services. It serves various enterprise clients across e-commerce, quick commerce, and food delivery sectors. As of September 30, 2025, the company operated a nationwide network of 4,299 touchpoints, covering 14,758 pin codes.

Fund Utilization and Listing

Proceeds from the fresh issue are designated for enhancing network infrastructure (₹42.34 crore), funding lease payments for new first and last-mile centers (₹13.86 crore), and for branding and marketing initiatives (₹8.85 crore). The remaining funds will be allocated to unidentified inorganic acquisitions and general corporate purposes. Shadowfax Technologies is expected to debut on the NSE and BSE on January 23, 2026.

Investment Details

The lot size for the IPO has been set at 120 shares. Retail investors will need to invest a minimum of ₹14,880 to apply for one lot at the upper price band. ICICI Securities, Morgan Stanley India Company, and JM Financial are acting as the book-running lead managers for the issue, with Kfin Technologies serving as the registrar.

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