Shadowfax Technologies Ipo
Shadowfax Technologies IPO Review & Key Points
Review: Neutral
IPO Lead Managers aka Merchant Bankers
ICICI Securities Limited
Morgan Stanley India Company Private Limited
JM Financial Limited
| Application | Lot Size | Shares | Amount |
| Retail Minimum | 1 | 120 | ₹14,880 |
| Retail Maximum | 13 | 1,560 | ₹1,93,440 |
| S-HNI Minimum | 14 | 1,680 | ₹2,08,320 |
| S-HNI Maximum | 67 | 8,040 | ₹9,96,960 |
| B-HNI Minimum | 68 | 8,160 | ₹10,11,840 |
| Investor Category | Share Offered | -% Shares |
| Anchor Investor | 6,90,33,955 Shares | 44.88% |
| QIB (Ex. Anchor) | 4,60,22,638 Shares | 29.92% |
| NII Shares Offered | 2,30,11,319 Shares | 14.96% |
| Retail Shares Offered | 1,53,40,879 Shares | 9.97% |
| Employee Shares Offered | 4,03,226 Shares | 0.26% |
| Anchor Bidding Date | January 19, 2026 |
| Anchor Investors List | |
| Shares Offered | 6,90,33,955 Shares |
| Anchor Size | 856.02 Cr. |
| lock-in period end date 50% shares (30 Days) | February 22, 2026 |
| lock-in period end date 50% shares (90 Days) | April 23, 2026 |
| IPO Open Date: | January 20, 2026 |
| IPO Close Date: | January 22, 2026 |
| Basis of Allotment: | January 23, 2026 |
| Refunds: | January 27, 2026 |
| Credit to Demat Account: | January 27, 2026 |
| IPO Listing Date: | January 28, 2026 |
| IPO Bidding Cut-off Time: | January 22, 2026 – 5 PM |
| Particular | Shares | % Share |
| Promoter Holding Pre Issue | 49,74,88,085 | 19.13% |
| Promoter Holding Post Issue | 57,81,33,246 | -% |
| Purpose | Crores |
| Funding of capital expenditure requirements of our Company in relation to our network infrastructure; | ₹423.43 |
| Funding of lease payments for new first mile centers, last mile centers and sort centers; | ₹138.64 |
| Funding of branding, marketing and communication costs; and | ₹88.57 |
| Unidentified inorganic acquisitions and general corporate purposes | ₹- |
| Period Ended | Revenue | Expense | PAT | Assets |
| 2023 | ₹1,422.89 | ₹1,565.53 | ₹142.64 | ₹442.73 |
| 2024 | ₹1,896.48 | ₹1,908.36 | ₹11.88 | ₹786.14 |
| 2025 | ₹2,514.66 | ₹2,508.60 | ₹6.06 | ₹1,259.26 |
| September 2025 | ₹1,819.80 | ₹1,798.77 | ₹21.04 | ₹1,453.16 |
| KPI | Values |
| ROE: | -% |
| ROCE: | -% |
| EBITDA Margin: | -% |
| PAT Margin: | -% |
| Debt to equity ratio: | – |
| Earning Per Share (EPS): | ₹0.13 (Basic) |
| Price/Earning P/E Ratio: | N/A |
| Return on Net Worth (RoNW): | 0.97% |
| Net Asset Value (NAV): | ₹13.83 |
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
| Blue Dart Express Limited | 106.38 | 50.70 | 17.25 | 657.05 | 5,762.16 Cr. |
| Delhivery Limited | 2.19 | 195.07 | 1.75 | 124.77 | 9,372.01 Cr. |
| Cookie | Duration | Description |
|---|---|---|
| cookielawinfo-checkbox-analytics | 11 months | This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics". |
| cookielawinfo-checkbox-functional | 11 months | The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional". |
| cookielawinfo-checkbox-necessary | 11 months | This cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary". |
| cookielawinfo-checkbox-others | 11 months | This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other. |
| cookielawinfo-checkbox-performance | 11 months | This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance". |
| viewed_cookie_policy | 11 months | The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data. |
| IPO Open Date | January 20, 2026 |
| IPO Close Date | January 22, 2026 |
| Face Value | ₹10 Per Equity Share |
| IPO Price Band | ₹118 to ₹124 Per Share |
| Issue Size | Approx ₹1907.27 Crores |
| Fresh Issue | Approx ₹1,000 Crores |
| Offer for Sale: | Approx 7,31,66,935 Equity Shares |
| Issue Type | Book Built Issue |
| IPO Listing | BSE, NSE |
| DRHP Draft Prospectus | |
| RHP Draft Prospectus |