Shadowfax Technologies IPO

Shadowfax Technologies IPO is a book build issue of ₹1,907.27 cr, which is a combination of ₹1,000 cr fresh issue and ₹907.27 cr OFS. The price band is set at ₹118 to ₹124 per share and the lot size for an application is 120. The minimum amount of investment required by an individual investor is ₹14,880 (120 shares). The IPO opens for subscription on January 20, 2026 and closes on January 23, 2026, which will list on the BSE, NSE platforms with a tentative listing date fixed as January 28, 2026.

Company Background

Shadowfax Technologies Ltd. was incorporated in June 2016. This company is a leading Indian logistics provider specializing in end-to-end e-commerce, hyperlocal, and quick-commerce delivery. They operate an efficient asset-light model, the firm manages a vast network of 4,299 touchpoints and 53 sort centres, covering over 14,758 pin codes as of September 2025. They are supported by a massive gig-economy fleet of over 200,000 active delivery partners.

Operations and Product Range

Facility and Production

This company has maintained a PAN-India logistics network, including 4,299 touchpoints on the end corners of the centres and as of the end of 2025, they achieved 14,758 pin codes. This logistics company is supported by over 3.50 million sq ft. of operational space that includes 53 sort centres covering space for warehouse, sorting, dispatch, and shipment consolidation.

Brands and Market Presence

Shadowfax Technologies Ltd. has created a reputable image in the market by serving giants like Flipkart, Meesho and Zomato. Its proprietary technology and scalable infrastructure enable seamless first-to-last-mile connectivity, positioning it as a dominant player in India’s fast-growing digital delivery ecosystem.

Revenue Channels

• Primary source of revenue generation from e-commerce express parcel delivery by collaborating with big brands like Flipkart, Meesho and Myntra.
• Another source of revenue is quick commerce and hyperlocal delivery.
• D2C customer-based personal courier and SMS based delivery.

Management and Shareholding

Promoters and Shareholding

Shadowfax Technologies’ promoters are Abhishek Bansal and Vaibhav Khandelwal, who cumulatively hold 19.13% of the equity. Major institutional shareholders include Flipkart (14.84%), Eight Roads Investments (14.16%), and TPG’s NewQuest Asia Fund (14.09%). Other marquee backers include Mirae Asset, Nokia Growth Partners, and the IFC.

Board Members

The board members of this company provide the strategic backbone required for scaling toward a ₹3,000 cr IPO. The executive team contributes proprietary tech innovation and operational scaling across PAN-India. Meanwhile, independent directors ensure institutional-grade governance, risk management, and retail-focused market insights, bridging the gap between a high-growth startup and a disciplined public entity.