Shadowfax Technologies Ltd. IPO

Min Investment
₹ 14,880 / 120 shares
Price Range
₹118 - ₹ 124
Bidding Dates
20 Jan '26 - 22 Jan '26
Total Issue Value
1,907.27 Cr
Lot Size
120
Total Issue Size
1,907.27 Cr
Listing At
BSE, NSE
Subscription
2.04 times
BSE Price
234.30 (88.95%)
NSE Price
232.44 (87.45%)

IPO Timeline

  • 20 Jan 2026
    Bidding Starts
  • 22 Jan 2026
    Bidding Ends
  • 23 Jan 2026
    Allotment Finalization
  • 28 Jan 2026
    Listing

About Shadowfax Technologies Ltd.

We are a new-age, technology-led third-party logistics (“3PL”) company, and leverage technology to facilitate digital commerce, with our service network encompassing 14,758 Indian pin codes as of September 30, 2025. We serve a wide category of enterprise clients including horizontal and non-horizontal e-commerce, quick commerce, food marketplace, and on-demand mobility companies. Our range of services includes, express forward parcel deliveries, reverse pickups and hand-in-hand exchange deliveries, prime deliveries, quick commerce and on-demand hyperlocal deliveries, and mobility services.

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Parent organisation
Founded
Shadowfax Technologies Ltd.
2015

Shadowfax Technologies Ltd. IPO Reservation

Investors Category Shares Offered
Anchor Investors 6,90,33,955 (44.88%)
Employee Reserved 4,03,225 (0.26%)
Non Institutional Investors 2,30,11,318 (14.96%)
Qualified Institutional Buyers (QIBs) 4,60,22,638 (29.92%)
Retail Individual Investors (RIIs) 1,53,40,878 (9.97%)

Shadowfax Technologies Ltd. Financial Information

Year End Revenue PAT Reserves & Surplus
31 Mar 2026 4,116.96 Cr 115.18 Cr 1,166.43 Cr
31 Mar 2025 2,496.74 Cr 6.22 Cr 248.06 Cr
31 Mar 2024 1,896.48 Cr -11.88 Cr 172.47 Cr

Shadowfax Technologies Ltd. Background

Our Company was originally incorporated as ‘Shadowfax Technologies Private Limited’ at Delhi, India as a private limited company under the Companies Act, 2013 pursuant to a certificate of incorporation dated April 21, 2015, issued by Registrar of Companies, Delhi. Further, pursuant to the resolution passed by Board of Directors of Company dated June 6, 2016 the registered office of the company was shifted from B-272 Street No-12 Bhajanpura Shahdara, Delhi-110053 to House No. 6A, Block NP, Pitampura, New Delhi – 110 034, India. Further, pursuant to a resolution passed by our Board on January 28, 2020 and a special resolution passed by our Shareholders on December 24, 2020 which was confirmed by an order of the Regional Director, Northern Region, Ministry of Corporate Affairs, New Delhi (“Regional Director”) dated June 21, 2021, the registered office of our Company was shifted from NCT of Delhi to the state of Karnataka with effect from June 25, 2021 and a certificate of registration of the order passed by Regional Director for change of state of our registered office was issued by the Registrar of Companies, Karnataka at Bangalore (“RoC”) on August 4, 2021. Further with effect from June 25, 2021 the registered office of our Company was changed from House No. 6A, Block NP, Pitampura, New Delhi – 110 034, India to 93/A, Appek Building, 1st Floor, 4th B Cross, Koramangala, 5th Block, Bengaluru, Karnataka, 560 095, India. Subsequently, our Company was converted from a private limited company into a public limited company pursuant to the Board resolution dated March 3, 2025 and the special resolution passed in the extraordinary general meeting of our Shareholders held on March 6, 2025 and consequently the name of our Company was changed to ‘Shadowfax Technologies Limited’ and a fresh certificate of incorporation dated April 21, 2025 was issued by the Registrar of Companies, Central Processing Center, Manesar, Haryana.

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Major Events And Milestones
  • 2015
    Our Company was incorporated in April
    Our Company acquired the business assets of Pickingo Logixpress Private Limited, pursuant to an asset transfer agreement
  • 2017
    Launched India’s first Doorstep Quality Check (“DQC”) for e-commerce customers
    Our Company acquired the business assets of Nuvo Logistics Private Limited, pursuant to an asset transfer agreement
  • 2018
    Launched ‘forward third-party logistics (“3PL”)’ service for e-commerce and direct-to-customer (“D2C”) brands
  • 2020
    Started operations of our first automated sorting centre in Gurgaon
  • 2021
    Built a network of 47 middle mile facilities across the country for end-to-end operations
  • 2022
    Entered the quick commerce delivery space
    Launched Shadowfax Flash, our intracity C2C delivery service
  • 2023
    Enabled EV vehicle leasing on our platform for our gig partners
    Launched large / volumetric express parcel category under value added services
    Introduced ‘SF Maps’, an AI-based address intelligence system to enhance delivery accuracy and efficiency
  • 2024
    Achieved Adjusted EBITDA breakeven for the Financial Year
    Achieved pan India expansion to more than 3,300 first and last mile facilities covering more than 2,200 cities
    Expanded same day and next day delivery service to more than 30 cities- Scaled quick commerce service to 50 cities and hit 300,000 orders per day
    Achieved 2.50 million orders per day during festive season
    Completed 1 billion orders to the end customers since inception
    Emerged as the largest 3PL company for the same day delivery, reverse shipment and quick commerce in terms of order volume as of and for the year ended March 31, 2025 and three months ended June 30, 2025
  • 2025
    Acquired Criticalog India Private Limited, strengthening our capacity to handle high-value and time critical shipments
    Achieved Profit After Tax for the Financial Year
    Launched state of the art multi-tier automated sorting center in Bilaspur (Haryana) and Bengaluru (Karnataka)
Shadowfax Technologies Ltd. Object of Issues

1. Funding of capital expenditure requirements of our Company in relation to our network infrastructure
2. Funding of lease payments for new first mile centers, last mile centers and sort centers
3. Funding of branding, marketing and communication costs
4. Unidentified inorganic acquisitions and general corporate purposes

Shadowfax Technologies Ltd. IPO Listing Details
Listing Date
28 Jan 2026
BSE Script Code
544685
NSE Symbol
SHADOWFAX
ISIN
INE12UN01015
Final Issue Price
₹ 124
Shadowfax Technologies Ltd. Listing Day Trading Information
Pricing Details BSE NSE
Issue Price ₹ 124.00 ₹ 124.00
Open ₹ 113.00 ₹ 112.60
Low ₹ 109.00 ₹ 109.00
High ₹ 119.55 ₹ 119.67
Last Trade ₹ 109.90 ₹ 109.98
Shadowfax Technologies Ltd. Company Promoters

1. Abhishek Bansal
2. Vaibhav Khandelwal

Industry Overview

As of the Financial Year 2025, the overall Indian logistics market is estimated to be at ?21-23 Tn ($247-270 Bn) which grew at a CAGR of 2.5-5% since the Financial Year 2020. In addition, logistics industry has benefitted from large pool of gig workers, that allows logistics players to have a ... Read more

Shadowfax Technologies Ltd. IPO Registrar
KFin Technologies Ltd.
301, The Centrium, 3rd Floor, 57 Lal Bahadur, Shastri Road, Nav Pada, Kurla (West), Kurla, Mumbai Maharashtra - 400070
67162222
Shadowfax Technologies Ltd. IPO Lead Manager(s)
Morgan Stanley India Company Pvt. Ltd.
Altimus, Level 39 & 40, Pandurang Budhkar Marg, Worli, Mumbai Maharashtra - 400013
61181000

FAQs

When does Shadowfax Technologies Ltd. IPO opens and closes?

Shadowfax Technologies Ltd. IPO opens from 20th January to 22nd January 2026.

What is the size of Shadowfax Technologies Ltd. IPO?

The size of the Shadowfax Technologies Ltd. IPO is ₹1,907.27 Cr.

What is the price range of Shadowfax Technologies Ltd. IPO?

The price range of Shadowfax Technologies Ltd. IPO is at ₹118 to ₹124 per share.

What is the minimum investment and lot size required for the Shadowfax Technologies Ltd. IPO?

The minimum investment required is ₹14,880 and minimum lot size is 120 shares.

When is Shadowfax Technologies Ltd. IPO listing date?

The Shadowfax Technologies Ltd. IPO will be listed on 28th January 2026.

What is the objective of Shadowfax Technologies Ltd. IPO?

1. Funding of capital expenditure requirements of our Company in relation to our network infrastructure
2. Funding of lease payments for new first mile centers, last mile centers and sort centers
3. Funding of branding, marketing and communication costs
4. Unidentified inorganic acquisitions and general corporate purposes

Disclaimer: This is 3rd Party content/feed, viewers are requested to use their discretion and conduct proper diligence before investing, GoodReturns does not take any liability on the genuineness and correctness of the information in this article

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