Shadowfax Technologies IPO Price: ₹118 to ₹124 per share
IPO Dates: 20th January 2026 – 22nd January 2026
Company Overview
Incorporated in June 2016, Shadowfax Technologies Ltd is an India-based logistics solutions provider offering end-to-end delivery services for e-commerce, D2C brands, and hyperlocal businesses.
Service Offerings
The company provides a wide range of logistics services, including:
- E-commerce and D2C parcel delivery
- Hyperlocal & quick commerce delivery, enabling same-day or within-hours fulfillment
- SMS and personal courier services through the Shadowfax Flash app
Nationwide Logistics Network
As of September 30, 2025, Shadowfax operates a robust pan-India logistics network comprising:
- 4,299 touchpoints across first-mile, last-mile, and sort centres
- Coverage of 14,758 pin codes nationwide
- Over 3.50 million sq. ft. of operational space
- 53 sort centres spanning 1.80 million sq. ft. for shipment consolidation, sorting, and dispatch
Asset-Light Operating Model
As of September 30, 2025, the platform supported:
- 205,864 average quarterly unique transacting delivery partners, making it one of the largest gig-based last-mile delivery networks in India
Client Portfolio
Shadowfax serves a diversified and marquee client base, including:
Meesho, Flipkart, Myntra, Swiggy, BigBasket, Zepto, Nykaa, Blinkit, Kartrocket, Zomato, Uber, Pincode, Purplle, Licious, ONDC, Magicpin, among others.
This positions Shadowfax as the only large-scale logistics provider offering last-mile and end-to-end delivery across e-commerce, quick commerce, food delivery, and hyperlocal services.
Workforce Strength
As of September 30, 2025, the company employed:
- 4,472 permanent employees
- 17,182 contract workers
Competitive Strengths
- Agile and customisable logistics solutions enabling faster go-to-market for clients
- Largest gig-based last-mile delivery partner infrastructure in India
- Scalable and efficient network infrastructure forming the backbone of operations
- Proprietary, technology-driven logistics platform
- Proven and profitability-focused business model with sustainable growth
- Experienced management team backed by entrepreneurial founders
Bidding Starts In
Shadowfax Technologies IPO Specifics:
| IPO Date | 20 to 22 Jan, 2026 |
| Face Value | ₹10 per share |
| Price Band | ₹118 to ₹124 per share |
| Lot Size | 120 Shares |
| Sale Type | Fresh Capital & OFS |
| Total Issue Size | 115,38,12,096 shares (agg. up to ₹1,907 Cr) |
| Fresh Issue | 8,06,45,161 shares (agg. up to ₹1,000 Cr) |
| Offer for Sale | 7,31,66,935 shares of ₹10 (agg. up to ₹907 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 49,74,88,085 shares |
| Share Holding Post Issue | 57,81,33,246 shares |
Shadowfax Technologies IPO Timetable (Important Dates)
| IPO Open Date | Tue, Jan 20, 2026 |
| IPO Close Date | Thu, Jan 22, 2026 |
| Tentative Allotment | Fri, Jan 23, 2026 |
| Initiation of Refunds | Tue, Jan 27, 2026 |
| Credit of Shares to Demat | Tue, Jan 27, 2026 |
| Listing Date | Wed, Jan 28, 2026 |
Shadowfax Technologies IPO Lot Size
Bidders have the opportunity to bid for a minimum of 120 shares, with the option to increase in multiples. The table below outlines the minimum and maximum investment thresholds for both retail investors and High Net Worth Individuals (HNIs), specifying the corresponding number of shares and amounts involved.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 120 | ₹14,880 |
| Retail (Max) | 13 | 1,560 | ₹1,93,440 |
| S-HNI (Min) | 14 | 1,680 | ₹2,08,320 |
| S-HNI (Max) | 67 | 8,040 | ₹9,96,960 |
| B-HNI (Min) | 68 | 8,160 | ₹10,11,840 |
Shadowfax Technologies IPO Reservation
| QIB Shares Offered | Not less than 75% of the Net Offer |
| Retail Shares Offered | Not more than 10% of the Net Offer |
| NII (HNI) Shares Offered | Not more than 15% of the Net Offer |
Shadowfax Technologies IPO Financial Information
| Period Ended | 30 Sep 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets | 1,453.16 | 1,259.26 | 786.14 | 442.73 |
| Total Income | 1,819.80 | 2,514.66 | 1,896.48 | 1,422.89 |
| Profit After Tax | 21.04 | 6.06 | -11.88 | -142.64 |
| EBITDA | 64.34 | 56.19 | 11.37 | -113.47 |
| NET Worth | 693.53 | 660.43 | 421.78 | 176.32 |
| Reserves and Surplus | 281.26 | 248.16 | 172.47 | 171.20 |
| Total Borrowing | 147.44 | 132.23 | 40.33 | 66.69 |
Key Performance Indicator – Shadowfax Technologies IPO
| KPI | Values |
|---|---|
| Debt/Equity | 0.20 |
| RoNW | 0.97 |
| EBITDA Margin | 1.96% |
| Price to Book Value | 8.97 |
| EPS Rs | 0.12 |
| P/E (x) | 1017.96 |
| Promoter Holding | 19.13% |
| Market Cap | ₹7,168.85 Cr. |
Prospectus Links:
Prospectus: Official documents that provide detailed information about the IPO and the company.
Shadowfax Technologies IPO RHP
Shadowfax Technologies IPO DRHP
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