Shadowfax IPO, a book-built issue worth ₹1,907.27 crore, is currently open for subscription. The public issue comprises a fresh issue of 8.06 crore equity shares aggregating to ₹1,000 crore and an offer for sale of 7.32 crore shares amounting to ₹907.27 crore. The IPO opened on January 20, 2026, and will close today, January 22, 2026.
The allotment of shares is expected to be finalised on January 23, 2026, while the company is slated to list on the BSE and NSE on January 28, 2026.
As of 11:14 AM on Day 3, January 22, 2026, the IPO has been subscribed 0.68 times overall. Retail investors showed relatively stronger interest, with the retail portion subscribed 1.92 times. However, demand from institutional investors remained muted, with both Qualified Institutional Buyers (excluding anchor investors) and Non-Institutional Investors subscribing only 0.40 times each.
The Shadowfax IPO, valued at ₹1,907.27 crore, through its ongoing IPO, which includes a ₹1,000 crore fresh issue and a ₹907.27 crore offer for sale. The issue opened for subscription on January 20, 2026, and closes today, January 22, 2026.
Share allotment is likely on January 23, with listing on the BSE and NSE tentatively scheduled for January 28, 2026.
By 11:14 AM on Day 3, the IPO saw an overall subscription of 0.68 times. Retail investors led participation with a subscription of 1.92 times, while interest from QIBs (excluding anchor investors) and NIIs remained subdued at 0.40 times each, reflecting cautious sentiment among larger investors.
The table below breaks down the Shadowfax share allocation for different categories, highlighting the number of shares and their percentage of the total issue. However, the key focus remains on the quotas allocated to retail investors and HNIs, as they are the most relevant for individual investors.
| Investor Category | Shares Offered |
| QIB Shares Offered | 11,50,56,593 (74.80%) |
| Anchor Investor Shares Offered | 6,90,33,955 (44.88%) |
| QIB (Ex. Anchor) Shares Offered | 4,60,22,638 (29.92%) |
| NII (HNI) Shares Offered | 2,30,11,319 (14.96%) |
| bNII (> ₹10 lakh) | 1,53,40,879 (9.97%) |
| sNII (< ₹10 lakh) | 76,70,440 (4.99%) |
| Retail Shares Offered | 1,53,40,879 (9.97%) |
| Employee Shares Offered | 4,03,226 (0.26%) |
| Total Shares Offered | 15,38,12,017 (100.00%) |
| Category | Subscription (times) |
| Qualified Institutional Buyers | 0.40 |
| Non-Institutional Investors | 0.40 |
| Retail Individual Investors | 1.92 |
| Total shares | 0.68 |
Note: The subscription details are as of Jan 22, 2026
Incorporated in June 2016, Shadowfax Technologies Ltd is an India-based logistics solutions provider offering end-to-end delivery services for the e-commerce ecosystem. The company specialises in express parcel delivery along with a range of value-added logistics services.
Its portfolio includes e-commerce and direct-to-consumer (D2C) deliveries, hyperlocal and quick commerce fulfilment with same-day or within-hours delivery timelines, as well as SMS and personal courier services through the Shadowfax Flash app.
As of September 30, 2025, Shadowfax operates a nationwide logistics network with 4,299 touchpoints spanning first-mile, last-mile, and sort centres, covering 14,758 pin codes across India. The network is supported by more than 3.50 million square feet of operational infrastructure, including 53 sort centres accounting for 1.80 million square feet used for shipment consolidation, sorting, and dispatch.
The company follows an asset-light model by leasing logistics facilities and linehaul capacity, while owning key automation systems and machinery to maintain operational control and efficiency. Its linehaul operations are supported by a dedicated fleet of over 3,000 trucks operating daily across the country.
Know more about IPO allotment status and check your application details online for the latest updates on share allocation.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing.
Published on: Jan 22, 2026, 11:27 AM IST
Nikitha Devi
Nikitha is a content creator with 7+ years of experience in the financial domain. Specialising in personal finance, investments, and market insights, Nikitha simplifies complex financial topics, making them accessible to readers.
Know MoreWe're Live on WhatsApp! Join our channel for market insights & updates
Get the link to download the App
