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Shadowfax Technologies IPO
Price Band
₹118.0–124.0
Issue Size
₹1907.27 Cr
Lot Size
120 shares
Min Investment
₹14,880
GMP
₹-3.5 (-2.82%)
Issue Price
₹124.0
Shadowfax Technologies IPO AI Summary
- Shadowfax Technologies IPO is listed on BSE, NSE in the Logistics Solution Provider sector.
- Price band: ₹118.0–₹124.0 per share, lot size 120 shares (min. investment ₹14,880).
- Subscription window: 20 Jan–22 Jan 2026, listing on 28 Jan 2026.
- Current GMP is ₹-3.5 (-2.82%), an estimated listing price of ₹121 — unofficial and can change daily.
Shadowfax Technologies Ltd is a logistics solutions provider with a focus on e-commerce and rapid deliveries. The company has shown revenue growth over recent periods, with a positive trend in profitability. The IPO aims to raise funds for expanding its infrastructure and operations.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Important Dates
Subscription Status
Subscription data unavailable
Shadowfax Technologies IPO Grey Market Premium (GMP) Today
GMP
₹-3.5
GMP %
-2.82%
Est. Listing
₹120.5
Updated: 14 Jul 2026 15:52
About the Company
Shadowfax Technologies Ltd is an India-based integrated logistics solutions company, focused on enabling large-scale e-commerce, D2C, quick commerce, and hyperlocal deliveries across the country. The company provides a comprehensive suite of services, including e-commerce and direct-to-consumer parcel delivery, hyperlocal and quick commerce deliveries within hours or same day, and SMS and personal courier services through its proprietary Shadowfax Flash app. Shadowfax operates a pan-India logistics network comprising 4,299 touchpoints, including first-mile, last-mile, and sortation centres, covering 14,758 pin codes as of September 30, 2025. Its operations are supported by over 3.50 million sq. ft. of logistics infrastructure, of which 53 sort centres account for approximately 1.80 million sq. ft., enabling efficient shipment aggregation, sorting, and dispatch. The company follows an asset-light operating model, leasing warehouses and linehaul infrastructure while owning key automation systems and machinery to maintain operational control and efficiency. Its linehaul network includes a dedicated fleet of more than 3,000 trucks operating daily. The company serves a diversified client base spanning e-commerce, quick commerce, food delivery, and hyperlocal platforms, including Meesho, Flipkart, Myntra, Swiggy, BigBasket, Zepto, Nykaa, Blinkit, Zomato, Uber, ONDC, Magicpin, Licious, Purplle, and others. This positions Shadowfax as one of the few logistics players in India capable of delivering end-to-end, last-mile, and rapid delivery solutions at scale. Competitive strengths Agile and customisable logistics services. Largest last-mile gig-based delivery partner infrastructure. Strong network infrastructure for efficient and scalable delivery system. Proprietary and agile technology capabilities. Proven business model, with focus on profitability, while delivering healthy growth. Experienced management team supported by entrepreneurial founders.
Company Financials (₹ Cr)
As of 2025-09-30
| Period Ended | 30 Sep 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| 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 |
| Reserves and Surplus | 281.26 | 248.16 | 172.47 | 171.20 |
| Total Borrowing | 147.44 | 132.23 | 40.33 | 66.69 |
Key Ratios
EPS
₹0.12
NAV
₹13.83
RoNW
0.97%
P/B Value
8.97
P/E Ratio
1017.96
Market Cap
₹7168.85 Cr
Debt/Equity
0.20
Promoters
Abhishek Bansal and Vaibhav Khandelwal
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 Funding of capital expenditure requirements of the Company in relation to the network infrastructure 423.43 2 Funding of lease payments for new first mile centers, last mile centers and sort centers 138.64 3 Funding of branding, marketing and communication costs 88.57 4 Unidentified inorganic acquisitions and general corporate purposes 291.94 5 Issue Expenses 109.51 Total 1,052.09
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total income was ₹1,422.89 Cr in the year ending 31 Mar 2023, rising to ₹1,896.48 Cr by 31 Mar 2024, then increasing further to ₹2,514.66 Cr by 31 Mar 2025. However, by 30 Sep 2025, total income decreased to ₹1,819.80 Cr, though this is a 9-month figure, not a full year, so isn't directly comparable.
Profit Trend
The company reported a loss of ₹142.64 Cr for the year ending 31 Mar 2023, which improved to a loss of ₹11.88 Cr by 31 Mar 2024. Profit after tax turned positive at ₹6.06 Cr for the year ending 31 Mar 2025, and further increased to ₹21.04 Cr by 30 Sep 2025, though this is a 9-month figure, not a full year, so isn't directly comparable.
Grey Market Premium, Explained
The grey market premium (GMP) refers to the unofficial trading of shares before they are listed on the stock exchange. A positive GMP indicates that the shares are expected to list at a higher price than the issue price, while a negative GMP suggests the opposite. Investors often look at GMP as an indicator of market sentiment towards the IPO.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against their investment goals and risk tolerance. Consider the company's growth potential, market position, and operational efficiency when evaluating an investment.
Who May Want to Wait
Investors with a low risk tolerance or those seeking guaranteed short-term returns may want to avoid this IPO. It's essential to assess the company's financial health and market conditions before making a decision.
IPO Timeline, Explained
The IPO opens on 20 January 2026 and closes on 22 January 2026. Allotment of shares will be done on 23 January 2026, and the shares are expected to be listed on the stock exchange on 28 January 2026.
Listing Gains — The Risk
Listing gains refer to the profit made by investors when shares are listed on the stock exchange at a price higher than the issue price. However, there is a risk associated with this, as market conditions can change rapidly, and the stock may not perform as expected on the listing day.
This evaluation is generated from Shadowfax Technologies's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is Shadowfax Technologies IPO GMP today?
Shadowfax Technologies IPO GMP today is ₹-3.5 (-2.82%), indicating an estimated listing price of ₹121. GMP is an unofficial grey-market indicator and can change daily.
What is the price band of Shadowfax Technologies IPO?
The price band of Shadowfax Technologies IPO is ₹118.0–₹124.0 per share.
When does Shadowfax Technologies IPO open and close?
Shadowfax Technologies IPO opens on 20 January 2026 and closes on 22 January 2026.
When does Shadowfax Technologies IPO list on the stock exchange?
Shadowfax Technologies IPO listed on 28 January 2026 at ₹120.5.
What is the lot size for Shadowfax Technologies IPO?
The lot size for Shadowfax Technologies IPO is 120 shares, requiring a minimum investment of ₹14,880.
What is the price band for the IPO?
The price band for the IPO is ₹118.0 to ₹124.0.
What is the minimum investment required?
The minimum investment required is ₹14,880.0.
What is the lot size for this IPO?
The lot size for this IPO is 120 shares.
When will the IPO be listed?
The IPO is expected to be listed on 28 January 2026.
What does GMP mean?
GMP stands for grey market premium, which indicates the expected price movement of the shares before they are officially listed.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
20 Jan 2026
Close
22 Jan 2026
Allotment
23 Jan 2026
Listing
28 Jan 2026
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