Shadowfax Technologies IPO to open tomorrow: Key details for investors
Shadowfax Technologies Ltd, a leading player in India’s rapidly growing logistics sector, is set to open its initial public offering (IPO) tomorrow, January 20, 2026. The company has gained attention for its strong presence in e-commerce and quick commerce delivery services.
IPO size and structureThe book-built IPO is worth ₹1,907.27 crore, comprising a fresh issue of ₹1,000 crore to fund business expansion and an offer for sale of ₹907.27 crore by existing shareholders.
Important dates
IPO opens: January 20, 2026
IPO closes: January 22, 2026
Basis of allotment: January 23, 2026
Expected listing: January 28, 2026, on BSE and NSE
Price band and investment details
Price band: ₹118–₹124 per share
Lot size: 120 shares (minimum retail investment ₹14,880 at the upper band)
Non-institutional investors: Minimum 14 lots for small NIIs, 68 lots for large NIIs
About Shadowfax TechnologiesFounded in June 2016, Shadowfax Technologies focuses on last-mile logistics, handling e-commerce, D2C, hyperlocal, and quick commerce deliveries. The company offers same-day or within-hours delivery in many locations and also provides personal courier and SMS services through its Flash app, catering to individual users and small businesses. Its extensive network has made it a preferred delivery partner for several online platforms and brands.
Grey Market Premium (GMP)As of January 19, 2026, at 11:00 AM, the Shadowfax IPO trades at a grey market premium of ₹11 per share. With the upper price band at ₹124, the estimated listing price is around ₹135, suggesting a potential listing gain of 8.87%. Experts caution that GMP figures are unofficial and can fluctuate rapidly.
Investor considerationsShadowfax operates in a highly competitive but fast-expanding logistics and quick commerce space. The growth of online shopping, same-day delivery, and D2C brands is driving demand for reliable delivery partners. Investors are advised to evaluate the company’s long-term business model, competitive landscape, and growth prospects, rather than focusing solely on short-term listing gains.
