Shadowfax Technologies IPO Day 2 LIVE: The initial public offering (IPO) of logistics services provider Shadowfax Technologies entered its second day of bidding on Wednesday, January 21. The offer received a healthy response from investors, having been subscribed 47% at the end of the first day.
Ahead of the IPO opening, Shadowfax also raised ₹856 crore from anchor investors on Monday.
Shadowfx IPO Details
The ₹1,907-crore public issue is available for subscription till January 22. Shadowfax Technologies’ IPO price band has been fixed at ₹118–124 per share, valuing the company at over ₹7,100 crore at the upper end of the band.
The issue comprises a fresh equity issuance of ₹1,000 crore and an offer for sale (OFS) of ₹907.27 crore by existing shareholders.
As part of the OFS, several early and institutional investors—including Flipkart Internet, Eight Roads Investments Mauritius II Ltd, NewQuest Asia Fund IV (Singapore) Pte Ltd, Nokia Growth Partners IV LP, International Finance Corporation, Mirae Asset, Qualcomm Asia Pacific Pte Ltd, and Snapdeal founders Kunal Bahl and Rohit Kumar Bansal—will divest a portion of their holdings.
Proceeds from the fresh issue will be used to expand network infrastructure, fund lease payments for new first-mile, last-mile, and sortation centres, support branding and marketing initiatives, pursue potential inorganic acquisitions, and meet general corporate requirements.
Shadowfax is a leading logistics service provider in India for e-commerce express parcel delivery and value-added services.
Shadowfax IPO GMP
Shadowfax is commanding a tepid grey market premium, according to data from investorgain.com. Shadowfax IPO GMP today is ₹4. This means that shares of Shadowfax are trading ₹4 above the offer price of ₹124.
At the current GMP and offer prices, Shadownfax IPO shares could list at 3.23% premium at ₹128.
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