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Shadowfax Technologies Limited is a new-age, technology-led third-party logistics (3PL) company in India, leveraging a proprietary tech platform to facilitate digital commerce. Its extensive service network covers 14,758 pin codes, serving a diverse client base including e-commerce, quick commerce, and on-demand mobility platforms. The company offers a wide range of services such as express parcel delivery, reverse logistics, prime (same-day/next-day) delivery, and hyperlocal solutions. As of September 2025, Shadowfax operates India's largest crowdsourced last-mile delivery fleet among 3PL e-commerce players and is recognized as a market leader in 3PL quick commerce and same-day delivery services.
Jan 20, 2026
Jan 22, 2026
Jan 28, 2026
Mainboard
Closed
1907.27 Cr
1000 Cr
907.27 Cr
₹118 - ₹124
120
The main objectives of the issue are to utilize the Net Proceeds for the following purposes:
Funding capital expenditure of ₹423.43 crores for network infrastructure, including the development of automated sortation centers and procurement of IT assets to enhance operational capabilities.
Utilizing ₹138.64 crores for lease payments on new first-mile, last-mile, and sort centers to expand the company's geographical reach and service capacity.
Allocating ₹88.57 crores for branding, marketing, and communication initiatives aimed at attracting and retaining delivery partners and enhancing brand visibility among direct-to-consumer and small-to-medium enterprises.
Funding unidentified inorganic acquisitions and general corporate purposes to support strategic growth initiatives and meet operational needs.
1017.96
0.12
3.03%
1.96%
3.03%
—
1.16%
2.86%
8.97
Agile and customizable logistics services catering to diverse needs of digital commerce clients, enhancing go-to-market speed.
Operates India's largest crowdsourced last-mile delivery fleet among 3PL e-commerce players, ensuring scalability and cost efficiency.
Extensive nationwide network infrastructure with 4,299 touchpoints covering 14,758 pin codes, enabling wide serviceability.
Proprietary and agile technology platform, including AI-based tools like SF Maps and SF Shield, driving operational efficiency and control.
History of incurring net losses in financial years 2023 and 2024, with negative cash flows in certain periods.
High client concentration, with the largest client accounting for nearly half of the company's revenue from operations.
Complete reliance on leased facilities for all logistics operations, which exposes the company to lease renewal and cost escalation risks.
Dependence on a non-exclusive, crowdsourced network of delivery partners, which may lead to potential supply disruptions and competition for riders.
Capitalizing on the rapid growth of India's online retail market, particularly the expansion into Tier 2 and smaller cities.
Expanding services to meet the increasing demand for quick commerce and on-demand hyperlocal deliveries.
Diversifying into new service lines such as B2B express logistics, cross-border parcel delivery, and specialized BFSI sector logistics.
Leveraging the growing adoption of Electric Vehicles (EVs) in logistics to optimize costs and enhance environmental sustainability.
Intense competition from established domestic and international logistics players with substantial financial and operational resources.
Evolving laws and regulations concerning the gig economy, data privacy, and e-commerce, which could increase compliance costs.
Potential disruptions to the nationwide network from equipment failures, labor strikes, political unrest, or natural disasters.
Macroeconomic slowdowns or shifts in consumer spending habits that could negatively impact the e-commerce industry and reduce demand for logistics.
Shadowfax Technologies Limited is a new-age, technology-led third-party logistics (3PL) company in India, leveraging a proprietary tech platform to facilitate digital commerce. Its extensive service network covers 14,758 pin codes, serving a diverse client base including e-commerce, quick commerce, and on-demand mobility platforms. The company offers a wide range of services such as express parcel delivery, reverse logistics, prime (same-day/next-day) delivery, and hyperlocal solutions. As of September 2025, Shadowfax operates India's largest crowdsourced last-mile delivery fleet among 3PL e-commerce players and is recognized as a market leader in 3PL quick commerce and same-day delivery services.
The Shadowfax Technologies Ltd. IPO is scheduled to open for subscription on Jan 20, 2026 and close on Jan 22, 2026. Investors can apply for shares during this period through eligible platforms.
The price band for the Shadowfax Technologies Ltd. IPO is ₹118 to ₹124. Investors can place bids within this range once the issue opens.
The minimum lot size for the Shadowfax Technologies Ltd. IPO is 120 shares. The minimum investment amount ₹14,880.
The total issue size of the Shadowfax Technologies Ltd. IPO is approximately ₹1,907.27. Issue size represents the total value of shares offered to the public.
As per the latest available information, the Shadowfax Technologies Ltd. IPO has been subscribed 0.63 times. Subscription levels can change significantly during the offer period.
The Grey Market Premium (GMP) for the Shadowfax Technologies Ltd. IPO is not available as of now. GMP reflects unofficial market sentiment and should not be considered a guarantee of listing performance.
The shares of Shadowfax Technologies Ltd. are expected to list on stock exchanges on Jan 28, 2026, subject to completion of the allotment process and regulatory approvals.
The net proceeds from the Shadowfax Technologies Ltd. IPO are proposed to be used for The main objectives of the issue are to utilize the Net Proceeds for the following purposes:, Funding capital expenditure of ₹423.43 crores for network infrastructure, including the development of automated sortation centers and procurement of IT assets to enhance operational capabilities., Utilizing ₹138.64 crores for lease payments on new first-mile, last-mile, and sort centers to expand the company's geographical reach and service capacity., Allocating ₹88.57 crores for branding, marketing, and communication initiatives aimed at attracting and retaining delivery partners and enhancing brand visibility among direct-to-consumer and small-to-medium enterprises., Funding unidentified inorganic acquisitions and general corporate purposes to support strategic growth initiatives and meet operational needs.
Before applying for the Shadowfax Technologies Ltd. IPO, investors generally review the company’s business model, financial performance, valuation, industry outlook, and risk factors mentioned in the offer document.
