Shadowfax IPO: Launch Date, Price Band, GMP Today & Detailed Review
20 January 2026 ·
Complete Analysis of Shadowfax Technologies IPO, GMP Trends & Investment Outlook
Introduction to Shadowfax IPO
The Shadowfax IPO is one of the most anticipated mainboard listings in the Indian logistics and e-commerce infrastructure space. As digital commerce, quick commerce, and hyperlocal delivery continue to scale rapidly, Shadowfax Technologies Ltd has emerged as a key backend enabler for some of India’s largest consumer internet brands.
With a strong nationwide footprint, asset-light operations, and improving profitability metrics, investor interest around Shadowfax IPO launch date, Shadowfax IPO price, and Shadowfax IPO GMP today has been steadily rising.
Shadowfax IPO News & Key Highlights
| Parameter | Details |
|---|---|
| IPO Type | Book Building IPO |
| Total Issue Size | ₹1,907.27 Crore |
| Fresh Issue | ₹1,000.00 Crore |
| Offer for Sale | ₹907.27 Crore |
| Listing Exchanges | BSE, NSE |
Shadowfax IPO Dates & Timeline
| Event | Date |
|---|---|
| IPO Open Date | 20 January 2026 |
| IPO Close Date | 22 January 2026 |
| Allotment Date | 23 January 2026 |
| Refunds Initiation | 27 January 2026 |
| Credit of Shares | 27 January 2026 |
| Listing Date | 28 January 2026 |
Shadowfax IPO Issue Size & Structure
| Component | Shares | Amount (₹ Crore) |
|---|---|---|
| Fresh Issue | 8,06,45,161 | 1,000.00 |
| Offer for Sale | 7,31,66,935 | 907.27 |
| Total Issue | 15,38,12,096 | 1,907.27 |
Shadowfax IPO Price Band & Lot Size
| Category | Details |
|---|---|
| Price Band | ₹118 to ₹124 per share |
| Face Value | ₹10 per share |
| Lot Size | 120 shares |
| Minimum Retail Investment | ₹14,880 |
Shadowfax IPO Reservation Breakdown
| Investor Category | Shares Offered | Percentage |
|---|---|---|
| QIB (Including Anchor) | 11,50,56,593 | 74.80% |
| NII (HNI) | 2,30,11,319 | 14.96% |
| Retail (RII) | 1,53,40,879 | 9.97% |
| Employee | 4,03,226 | 0.26% |
Shadowfax IPO Anchor Investors Summary
| Parameter | Details |
|---|---|
| Anchor Bid Date | 19 January 2026 |
| Amount Raised | ₹856.02 Crore |
| Shares Allocated | 6,90,33,955 |
| 50% Lock-in Ends | 22 February 2026 |
| Remaining Lock-in Ends | 23 April 2026 |
About Shadowfax Technologies Ltd
Incorporated in June 2016, Shadowfax Technologies Ltd is a technology-driven logistics solutions provider catering to India’s booming e-commerce, quick commerce, and hyperlocal delivery ecosystem.
The company offers end-to-end logistics services across first-mile, mid-mile, and last-mile delivery, supported by a large gig-based delivery partner network and proprietary technology infrastructure.
Business Model & Service Offerings
Shadowfax operates an asset-light logistics model, leasing physical infrastructure while owning automation systems and software platforms. Its key service offerings include:
E-commerce & D2C parcel delivery
Hyperlocal and quick commerce (same-day / intra-day)
Food and grocery delivery logistics
Personal courier services via the Shadowfax Flash App
This diversified service mix allows Shadowfax to serve multiple high-growth segments simultaneously.
Logistics Network & Technology Backbone
As of 30 September 2025, Shadowfax’s logistics network includes:
4,299+ touchpoints across India
Coverage of 14,758 pin codes
53 sort centres spanning 1.80 million sq. ft
3,000+ trucks operating daily
205,864 average quarterly unique delivery partners
The company’s proprietary technology stack enables route optimisation, partner allocation, and real-time tracking at scale.
Competitive Strengths of Shadowfax
Key strengths that support the Shadowfax IPO review include:
Largest gig-based last-mile delivery partner network
Highly customisable logistics solutions
Strong relationships with leading consumer internet brands
Asset-light, scalable operating model
Improving profitability metrics
Experienced founder-led management team
Financial Performance Overview
| Metric | 30 Sep 2025 | FY2025 | FY2024 | FY2023 |
|---|---|---|---|---|
| Total 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 | 6.06 | -11.88 | -142.64 |
| EBITDA | 64.34 | 56.19 | 11.37 | -113.47 |
| Net Worth | 693.53 | 660.43 | 421.78 | 176.32 |
Shadowfax IPO GMP & Market Sentiment
The Shadowfax IPO GMP today reflects strong institutional interest driven by:
Anchor investor participation
Improving profitability trend
Exposure to high-growth logistics segments
While GMP offers short-term sentiment cues, investors should rely primarily on business fundamentals and long-term scalability.
Key Risks to Consider
High dependence on e-commerce volumes
Intense competition in logistics space
Margin pressure from gig-economy costs
Regulatory changes impacting delivery partners
Shadowfax IPO Review: Should You Invest?
From a fundamentals perspective, Shadowfax stands out due to its:
Strong revenue scale
Network-driven competitive moat
Path toward sustainable profitability
However, valuation sensitivity and market conditions near listing should be carefully assessed before investing.
How ultra Helps Track IPOs & Opportunities
ultra helps investors track:
Upcoming IPOs and listing insights
IPO GMP trends and market sentiment
High-growth opportunities beyond traditional equities
👉 Explore smarter investing with ultra and stay ahead of market opportunities.
FAQs on Shadowfax IPO
Q1. What is the Shadowfax IPO price band?
₹118 to ₹124 per share.
Q2. What is the Shadowfax IPO launch date?
20 January 2026.
Q3. On which exchanges will Shadowfax list?
BSE and NSE.
Q4. What is the minimum retail investment?
₹14,880.