Shadowfax IPO opens next week; GMP indicates 12% listing gain. Check key details here

Synopsis Shadowfax Technologies is set to launch its Initial Public Offering (IPO) with a total issue size of Rs 1,907.27 crore. The offering consists of a fresh issue of 8.06 crore equity shares worth Rs 1,000 crore, which will be utilised to fund the company’s growth initiatives. Bengaluru-based logistics and last-mile delivery firm Shadowfax Technologies is scheduled to open its Rs 1,907 crore IPO on January 20, 2026. Ahead of the issue, the shares are commanding a grey market premium of about 12%, signalling robust investor appetite. At this premium, the stock is expected to debut around Rs 139 per share, versus the upper price band of Rs 124. The IPO will be open for subscription for three days, from January 20 to January 22, 2026. The price band for the issue has been fixed at Rs 118 to Rs 124 per share. The IPO comprises of a fresh issue of equity shares worth Rs 1,000 crore, which will be deployed to support the company’s expansion plans, alongside an offer for sale (OFS) of Rs 907.27 crore by existing shareholders. This structure allows Shadowfax to raise new capital for growth while giving current investors an opportunity to pare down their stakes. Shadowfax Technologies GMP today: The latest Grey Market Premium (GMP) for the Shadowfax Technologies IPO stands at Rs 15 per share as of January 16. With the upper price band set at Rs 124, the current grey market premium suggests a likely listing price of around Rs 139 per share. If this trend sustains, investors could potentially earn an estimated gain of about 12.1% on listing day. Live Events Note: Grey Market Premium (GMP) is an unofficial and unregulated indicator of market sentiment. It is based on informal trading before listing and may change rapidly. GMP should not be considered as guaranteed or investment advice, as actual listing prices may vary depending on market conditions. Shadowfax Technologies IPO Details: Shadowfax Technologies is set to launch its Initial Public Offering (IPO) with a total issue size of Rs 1,907.27 crore. The offering consists of a fresh issue of 8.06 crore equity shares worth Rs 1,000 crore, which will be utilised to fund the company’s growth initiatives. Additionally, the issue includes an Offer for Sale (OFS) of 7.32 crore shares valued at Rs 907.27 crore, enabling existing shareholders to partially divest their holdings. The IPO will open for subscription on January 20, 2026, and close on January 22, 2026. The basis of allotment is expected to be finalised on January 23, 2026, while the shares are tentatively scheduled to list on the BSE and NSE on January 28, 2026. The price band for the issue has been fixed at Rs 118–124 per share, allowing investors to bid within this range. Retail investors can apply for a minimum of 120 shares, which is the lot size, and bids must be made in multiples thereof. At the upper price band, the minimum investment required stands at Rs 14,880. Shadowfax Technologies IPO objects of the issue: The proceeds from the Shadowfax Technologies IPO will be primarily used to support the company’s expansion and operational growth. A significant portion of the funds, amounting to Rs 423.43 crore, will be allocated toward meeting the company’s capital expenditure requirements, particularly for strengthening and expanding its logistics network infrastructure. Additionally, around Rs 138.64 crore will be utilized for lease payments related to the establishment of new first-mile centers, last-mile centers, and sortation centers, which are critical for enhancing delivery efficiency. The company also plans to invest Rs 88.57 crore in branding, marketing, and communication initiatives to strengthen brand visibility and customer reach. The remaining funds will be used for unidentified inorganic acquisitions and general corporate purposes, providing flexibility for future strategic opportunities. About Shadowfax Technologies: Founded in 2015, Shadowfax Technologies is a Bengaluru-based logistics and delivery service provider and has emerged as a prominent player in India’s fast-growing logistics ecosystem. The company offers a wide range of services, including rapid parcel delivery, same-day and next-day delivery, doorstep exchange services, and quick-commerce solutions with delivery timelines as short as 10 minutes. Shadowfax has built a strong nationwide presence, servicing more than 18,000 pin codes across over 2,500 cities. With the capability to deliver over two million packages per day, the company is known for its speed and efficiency, often completing deliveries within 30 to 60 minutes of order placement—a trend that is increasingly gaining traction across India. On the financial front, Shadowfax demonstrated robust growth in FY25, with total income rising 32% to Rs 2,515 crore, compared to Rs 1,897 crore in the previous year. The company’s EBITDA surged by 410% to Rs 56 crore from Rs 11 crore, and it also turned profitable, reporting a net profit of Rs 6 crore in FY25, highlighting improving operational efficiency and scalability. The issue is being managed by ICICI Securities Limited, Morgan Stanley India Company Private Limited, and JM Financial Limited as book-running lead managers, while KFin Technologies Ltd has been appointed as the registrar to the issue. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel) (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price ...moreless (You can now subscribe to our ETMarkets WhatsApp channel) (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price ...moreless For a future, Hindustan Copper is reviving what it junked in past FOMO or geopolitical safety net: What’s fuelling the gold ETF rush? Generous payouts come back to bite IT firms in the era of AI Scott Adams and the weasel-proof wallet Stock Radar: Coal India stock breaks out from Ascending Triangle range to hit fresh 52-week high in January 2026; time to buy? These mid-cap stocks with ‘Strong Buy’ & ‘Buy’ recos can rally over 25%, according to analysts 1 2 3