Shadowfax Technologies, a fast‑growing logistics startup, has set its IPO price band at ₹118‑₹124 per share.
What the IPO Includes
The public issue will raise about ₹1,907 crore in total:
- Fresh issue: ₹1,000 crore of new shares to fund growth.
- Offer for sale (OFS): Existing shareholders will sell shares worth ₹907 crore.
Key Shareholders in the OFS
- Flipkart Internet Pvt Ltd – up to ₹400 crore
- Eight Roads Investments Mauritius II Ltd – up to ₹197 crore
- Qualcomm Asia Pacific – ₹65.24 crore
- Mirae Asset – ₹75 crore
- Other investors – remaining amount
How the Money Will Be Used
- Build and upgrade network infrastructure.
- Pay lease for first‑mile and last‑mile sortation centres.
- Invest in branding and communication.
- Reserve funds for possible acquisitions and general corporate needs.
Valuation Snapshot
At the top of the price band, the IPO works out to a price‑to‑earnings (P/E) multiple of about 953× based on FY25 diluted earnings, far above the industry average of roughly 123×. The price values each share at around 12 times its face value of ₹10.
Subscription Timeline
- Anchor investor bidding: 19 January
- Public subscription: 20–22 January
- Allotment basis finalised: ~23 January (refunds same day)
- Shares credited to successful applicants: ~27 January
- Trading on BSE and NSE begins: ~28 January
About Shadowfax
Shadowfax is a technology‑driven third‑party logistics (3PL) provider. It operates in nearly 15,000 pin codes across India, offering express parcel delivery, reverse logistics, hyper‑local services, and more for e‑commerce platforms, quick‑commerce apps, food marketplaces, and mobility services.
Recent Financial Performance
- First half of FY26 revenue: ₹1,800 crore (68% YoY growth).
- Full FY25 revenue: ₹2,485 crore.
- Express parcel segment accounts for ~70% of revenue; hyper‑local & quick‑commerce make up the remaining ~20%.
- Market share in express parcels rose to ~21% in Q1 FY26, up from 8% in FY22.
Disclaimer
Remember, this is perspective, not a prediction. Do your own research and consider your risk tolerance before investing.