Shadowfax Technologies IPO: 63% subscription on Day 2, GMP keeps eroding | Last day to bid
Shadoxfax Technologies, a logictics services provider, could attract 0.63 times overall subscription on Jan 21, the second day of the bidding process. The Grey Market Premium, however, has been eroding constantly for the past few days.
Kolkata: Logictics services provider Shadowfax Technologies could manage 63% subscription on the second day -- 1.75 times in the retail category, 0.40 times in QIB (Ex Anchor) category and 0.35 times in the NII category. It is clear that the real investors displayed the biggest rust on this issue. The company have successfully placed shares worth Rs 856 crore out to anchor investors, both domestic and foreign. The QIB level of investment is significant since these are usually banks and mutual funds which have the requisite skills to analyse a public issue and the deep pockets to invest.
The Rs 1907.27-crore public issue consists of a fresh issue of 8.06 crore shares aggregating to Rs 1,000 crore and an OFS segment (offer for sale) of 7.32 crore shares aggregating to Rs 907.27 crores. The company is in the business of providing logistics services. Analysts have pointed out risk factors of the issue -- the company depends on a crowdsourced network of delivery partners with whom Shadowfax does not have any exclusive arrangement. Also is any commercial relation is severed, it signals loss of business for the firm.
Shadowfax Technologies IPO GMP
According to investorgain the GMP was Rs 1.5 in the early morning of Jan 22, the closing day of the issue. Considering a price band of Rs 124, the estimated listing price signalled by this level of GMP is Rs 125.5. The listing gain, therefore, will come to 1.21% at this level. Significantly, there has been a constanterosion of the GMP from Rs 16 where it stood on Jan 15. However, it must be kept in mind that GMP is an unofficial gauge that is volatile and does not guarantee anything -- gain or loss on listing.
Shadowfax Technologies IPO price band, lot size
Shadowfax Technologies IPO price band has been fixed at Rs 118-124 per share. For a retail investor, the lot size for the minimum application is 120 shares and the minimum application amount is Rs 14,880 based on upper end of the price band. However, the lot size investment for sNII is 14 lots (or 1,680 shares) and that for bNII category of investors, it is 68 lots (or 8,160 shares). ICICI Securities is the lead manager while Kfin Technologies is the registrar of the issue.
Shadowfax Technologies IPO key dates
Bid closes: Today, Jan 22, 2026
Allotment: Jan 23
Refund: Jan 27
Credit of shares: Jan 27
Listing: Jan 28
Shadowfax Technologies business
Shadowfax Technologies has proven competence in logistics solutions, particularly e-commerce express parcel delivery and a suite of value-added offerings. These are particularly suited for D2C delivery, hyperlocal & quick commerce within hours or same day. The logistics network is spread across the country with a dedicated fleet of over 3,000 trucks daily. Meesho, Flipkart, Myntra, Swiggy, Bigbasket, Zepto, Nykaa, Blinkit, Kartrocket, Zomato, Uber, Pincode, Purplle, Licious, ONDC and Magicpin count among its clients.
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