Founded in 2016, Shadowfax Technologies Ltd is a major Indian logistics company specializing in e-commerce and express parcel delivery, along with a range of value-added services. Its core offerings encompass e-commerce and D2C delivery, hyperlocal and quick commerce services fulfilled within hours or the same day, and SMS and personal courier services via its Flash app.
As of September 30, 2025, the company operates an extensive nationwide network of 4,299 touchpoints serving 14,758 pin codes, supported by over 3.50 million square feet of operational space, which includes 53 sortation centers. Its dedicated daily fleet exceeds 3,000 trucks, and its platform engages over 205,000 Average Quarterly Unique Transacting Delivery Partners.
The company serves a prominent client base, including Meesho, Flipkart, Swiggy, Nykaa, Zepto, Blinkit, and Zomato, positioning it as a large-scale, integrated provider for last-mile and end-to-end e-commerce, quick commerce, food delivery, and hyperlocal logistics. Financially, Shadowfax reported revenue of ₹2,514.66 crores in 2025, up from ₹1,896.48 crores in 2024, and turned profitable with a net profit of ₹6.43 crores, reversing a loss of ₹11.88 crores the previous year.
The company’s Initial Public Offering (IPO) is a Book Built Issue aiming to raise approximately ₹2,000 crores, with a price band set between ₹118 and ₹124 per share. The IPO opens on January 20, 2026, and closes on January 22, 2026, with allotment finalized on January 23 and listing on the BSE and NSE scheduled for January 28, 2026. The share allocation is set at 10% for retail investors, 75% for Qualified Institutional Buyers (QIBs), and 15% for High Net-Worth Individuals (HNIs).
Shadowfax Technologies IPO Details
| IPO Date | January 20, 2026 to January 22, 2026 |
| Listing Date | Wed, Jan 28, 2026 |
| Face Value | ₹10 per share |
| Price Band | ₹118 to ₹124 |
| Lot Size | 120 Shares |
| Issue Size | Approx ₹1907.27 Crores |
| Fresh Issue | Approx ₹1,000 Crores |
| Issue Type | Book building 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 Dates
Initial Public Offering (IPO) of Shadowfax Technologies opens for subscription on January 20, 2026, and will close on January 22, 2026. The basis of allotment is set to be finalized on January 23, 2026, and the equity shares are scheduled to list on the stock exchanges on January 28, 2026.
| IPO Open Date | Tue, Jan 20, 2026 |
| IPO Close Date | Thu, Jan 22, 2026 |
| Tentative Allotment | Fri, Jan 23, 2026 |
| Refunds | Tue, Jan 27, 2026 |
| Credit of Shares to Demat | Tue, Jan 27, 2026 |
| Tentative Listing Date | Wed, Jan 28, 2026 |
Shadowfax Technologies IPO Market Lot
Minimum bid lot for the IPO is set at 120 shares, and investors must apply in multiples of this lot size.
| Application | Lot Size | Shares | Amount |
| Retail Minimum | 1 | 120 | ₹14,880 |
| Retail Maximum | 13 | 1,560 | ₹1,93,440 |
| S-HNI Minimum | 14 | 1,680 | ₹2,08,320 |
| S-HNI Maximum | 67 | 8,040 | ₹9,96,960 |
| B-HNI Minimum | 68 | 8,160 | ₹10,11,840 |
