return to news
  1. Upstox
    /
  2. News
    /
  3. Market News
    /
  4. IPO
    /
  5. Shadowfax Technologies IPO subscribed 58% so far on Day 2; check lot size and key dates

Market News

Shadowfax Technologies IPO subscribed 58% so far on Day 2; check lot size and key dates

Kamal Joshi
By Kamal Joshi

3 min read | Updated on January 21, 2026, 15:25 IST

Twitter Page
Linkedin Page
Whatsapp Page

SUMMARY

Shadowfax Technologies IPO: The ₹1,907.27 crore issue, with a price band of ₹118 to ₹124 per share, will conclude on January 22. It is a fresh issuance of shares aggregating to ₹11,000 crore and an offer for sale (OFS) component of ₹907.27 crore by existing shareholders.

Shadowfax Technologies is backed by marquee investors like Flipkart, TPG, Mirae Asset Ventures, Nokia Growth Funds and Eight Roads Ventures. | Image: shadowfax.in

Shadowfax Technologies is backed by marquee investors like Flipkart, TPG, Mirae Asset Ventures, Nokia Growth Funds and Eight Roads Ventures. | Image: shadowfax.in

Shadowfax Technologies IPO: The initial public offer of Shadowfax Technologies, which provides logistics services, received 58% subscription so far on the second day of bidding on Wednesday.

Open FREE Demat Account within minutes!
Join now

The three-day IPO got bids for 5,19,16,560 shares against 8,90,88,807 shares on offer, according to NSE data until 3:24 pm.

CategorySubscription Status
Qualified Institutional Buyers (QIBs)38%
Non-Institutional Investors31%
Retail Investors1.59 times
Total58%

The ₹1,907.27 crore IPO, with a price band of ₹118 to ₹124 per share, will conclude on January 22. It is a fresh issuance of shares aggregating to ₹11,000 crore and an offer for sale (OFS) component of ₹907.27 crore by existing shareholders.

Those selling their stake under the OFS route include Flipkart Internet, International Finance Corporation, Qualcomm Asia Pacific, NewQuest Asia Fund IV (Singapore), Eight Roads Investments Mauritius II, Mirae Asset-Naver New Growth Fund I, Mirae Asset-GS Retail New Growth Fund I and Nokia Growth Partners IV, L.P.

The fresh issue proceeds will be used towards enhancing capacity in terms of network infrastructure, lease payments for new first-mile and last-mile, and sort centres, as well as towards marketing, branding and communication initiatives, unidentified inorganic acquisitions, and corporate general purposes.

A lot consists of 120 shares and multiples thereafter. The basis of allotment is expected to be finalised on January 23, while listing will take place on January 28.

Shadowfax Technologies is backed by marquee investors like Flipkart, TPG, Mirae Asset Ventures, Nokia Growth Funds and Eight Roads Ventures. It is a leading logistics service provider in India for e-commerce express parcel and value-added services.

It serves enterprise clients, including horizontal and non-horizontal e-commerce, food marketplaces, quick commerce and on-demand mobility companies.

Shadowfax Technologies IPO: Check the business model, financials, strengths and risks

Shadowfax Technologies IPO GMP

According to investorgain.com and media reports, Shadowfax Technologies' unlisted shares are trading at ₹124.5, reflecting a grey market premium of 0.4% over the upper price band of ₹124.

Disclaimer: Grey Market Premium (GMP) is not regulated or recommended by the stock exchanges or SEBI. Upstox does not endorse or facilitate trading in the grey market. Investors are advised to conduct their own research or consult an expert before making any investment decisions.
To learn more about IPOs, their listings, schedules, and upcoming IPOs, visit our page.
To add Upstox News as your preferred source on Google, click here.
SIP
Consistency beats timing.
promotion image

About The Author

Kamal Joshi
Kamal Joshi is a business journalist who covers industries, markets, and IPOs. He is passionate about breaking news and enjoys playing tennis, especially flexing his backhand. He was previously associated with Republic TV and LatestLY.

Next Story