Shadowfax Technologies Ltd, a well-known name in India’s fast-growing logistics space, is set to open its initial public offering (IPO) tomorrow, January 20, 2026. The issue has already drawn attention due to the company’s strong presence in .
The Shadowfax Technologies IPO is a book-built issue worth Rs 1,907.27 crore. It includes a fresh issue of shares worth Rs 1,000 crore and an offer for sale of Rs 907.27 crore by existing shareholders.
While the fresh issue will help the company raise funds for its business needs, the offer for sale will allow current investors to partially exit their holdings.
The IPO will open for subscription on January 20, 2026, and close on January 22, 2026. The basis of allotment is expected to be finalised on January 23, while the company is likely to make its stock market debut on January 28, 2026, on both the BSE and NSE.
Shadowfax Technologies has fixed the IPO price band at Rs 118 to Rs 124 per share. The lot size for investors is 120 shares, which means retail investors need to invest a minimum of Rs 14,880 at the upper end of the price band.
For non-institutional investors, the minimum investment is higher. Small NIIs need to apply for 14 lots, while big NIIs must apply for 68 lots, translating into investments running into a few lakhs and over ten lakh rupees respectively.
Founded in June 2016, Shadowfax Technologies Ltd is an Indian logistics solutions company focused on last-mile delivery. Over the years, it has built a strong presence in e-commerce and D2C parcel deliveries. The company also handles hyperlocal and quick commerce orders, offering same-day or even within-hours delivery in many locations.
In addition, Shadowfax provides SMS and personal courier services through its Flash app, catering to individual users and small businesses. Its wide service range has helped it become a key delivery partner for online platforms and brands.
As of January 19, 2026, at 11:00 AM, the latest grey market premium (GMP) for the Shadowfax Technologies IPO stands at Rs 11 per share. Based on the upper price band of Rs 124, the estimated listing price works out to around Rs 135 per share.
This suggests a possible listing gain of 8.87%, though market observers caution that GMP figures are unofficial and can change quickly.
Shadowfax operates in a competitive but fast-expanding logistics and quick commerce space. The rise of online shopping, same-day delivery, and D2C brands has increased demand for reliable delivery partners.
However, like any IPO, market experts advise investors should look beyond listing gains and consider the company’s business model, competition, and long-term growth prospects before investing.