Shadowfax Technologies Launches Rs 1,907 Crore IPO with Moderate Market Response

Shadowfax Technologies launched its Rs 1,907-crore IPO from January 20 to 22, comprising a Rs 1,000-crore fresh issue and Rs 907-crore offer for sale by existing shareholders. The Bengaluru-based logistics firm, backed by Flipkart, focuses on last-mile delivery and quick-commerce, serving over 14,700 pin codes. The IPO attracted Rs 850 crore from anchor investors, including domestic mutual funds and global institutions. Despite strong revenue growth and an asset-light model, the IPO saw modest subscription and a grey market premium around 5-6%, reflecting cautious investor sentiment amid rich valuations and client concentration risks. Shares are expected to list on January 28, 2026.