Daijiworld Media Network – New Delhi
New Delhi, Jan 14: Logistics solutions provider Shadowfax Technologies has fixed the price band for its initial public offering (IPO) at Rs 118 to Rs 124 per equity share. The company’s maiden public issue is set to open for subscription on Tuesday, January 20, 2026.
The Rs 1,907-crore IPO comprises a fresh issue of equity shares worth Rs 1,000 crore and an offer for sale (OFS) of up to 73.2 million equity shares aggregating to Rs 907.27 crore. Under the OFS, existing investors including Flipkart India, Eight Roads Investments Mauritius II, International Finance Corporation (IFC), Qualcomm Asia Pacific, Nokia Growth Partners, NewQuest Asia Fund and Miare Asset will divest part of their holdings.
Founded in 2016, Shadowfax Technologies is a logistics solutions provider offering e-commerce express parcel delivery along with value-added services. The company caters to a wide range of enterprise clients such as horizontal and non-horizontal e-commerce platforms, quick commerce players, food marketplaces and on-demand mobility companies. As of September 30, 2025, Shadowfax operated a nationwide logistics network with 4,299 touchpoints, including first-mile, last-mile and sort centres, covering 14,758 pin codes across India.
According to the red herring prospectus (RHP), the Shadowfax Technologies IPO will open on January 20 and close on Thursday, January 22, 2026. The basis of allotment is expected to be finalised on Friday, January 23, 2026. The company’s shares are scheduled to be listed on the NSE and BSE on Wednesday, January 23, 2026.
The IPO lot size has been fixed at 120 equity shares. At the upper end of the price band, retail investors will need to invest a minimum of Rs 14,880 to apply for one lot.
KFin Technologies has been appointed as the registrar to the issue. The book-running lead managers for the IPO are ICICI Securities, Morgan Stanley India Company and JM Financial.
As per the RHP, Shadowfax plans to utilise Rs 42.34 crore from the net proceeds of the fresh issue to enhance capacity and strengthen its network infrastructure. A further Rs 13.86 crore will be used towards lease payments for new first-mile, last-mile and sort centres, while Rs 8.85 crore has been earmarked for branding, marketing and communication initiatives. The remaining funds will be deployed for unidentified inorganic acquisitions and general corporate purposes.