Shadowfax IPO

IPO Details
Bidding Date Jan 20, 2026	IPO Price Range ₹118 to ₹124 per share	IPO Size ₹1907 Cr
Listing Exchange BSE, NSE	Listing Date Jan 28, 2026	Lot Size 120 Shares

Minimum Investment
₹14,880/120shares

IPO Timeline

Open DateJan 20, 2026

Close DateJan 22, 2026

Allotment FinalisationJan 23, 2026

Demat TransferJan 27, 2026

Refund InitiationJan 27, 2026

ListingJan 28, 2026

About Shadowfax IPO

Shadowfax is an innovative technology-focused logistics firm that offers last-mile delivery, hyperlocal services, and reverse logistics. Founded in 2015, it deploys an asset-light model supported by thousands of delivery partners across 14,000+ PIN codes of India. It serves e-commerce platforms, D2C brands, and enterprises that need fast, flexible delivery solutions. Using Shadowfax’s technology for route optimization, real-time tracking, and dynamic fleet allocation, seasonal surges can be handled very efficiently. Its big reach and technology-driven operations make it one of the most successful logistics partners to the Indian e-commerce industry. The suggested IPO will contribute to the acceleration of growth rate, consolidation of the platform, and improvement of logistical infrastructure because with the increasing demand for effective last-mile delivery service, the company will be able to grow and scale.

Shadowfax IPO Subscription Status

Date	QIB	NII	Retail	Total
TBA	0	0	0	0
TBA	0	0	0	0

Shadowfax IPO Financial Status

Particulars (in Rs. Crores)	30 Sep 2025	31 Mar 2025	31 Mar 2024	31 Mar 2023
Assets	1,453.16	1,259.26	786.14	442.73
Total Income	1,819.80	2,514.66	1,896.48	1,422.89
Profit After Tax	21.04	6.06	-11.88	-142.64
EBITDA	64.34	56.19	11.37	-113.47
Net Worth	693.53	660.43	421.78	176.32
Reserves and Surplus	281.26	248.16	172.47	171.20
Total Borrowing	147.44	132.23	40.33	66.69

Shadowfax IPO SWOT Analysis

Strengths

The company has comprehensive access to over 14,000 PIN codes, thereby providing an unmatched opportunity to e-commerce and D2C customers.
With a larger service portfolio, it is possible to make more decisions in relation to last-mile logistics and reverse logistics.
In a peak demand scenario, technology-based optimization maximizes efficiency, minimizes delivery expenses, and scales up capacity.
Asset-light model reduces the capital requirements and allows flexible expansion.
Strong partnerships with large e-commerce players ensure recurring demand.

Weaknesses

Due to the high costs of logistics setup, the business experiences thin profit margins.
Volatility in fuel and labor costs directly squeezes the cost structure, thus affecting sustainability.
Competition with large integrated logistics companies creates strong pricing pressure and higher chances of customer churn.
With dependence on huge marketplaces, there arises a revenue concentration risk.
Seasonality in e-commerce demand leads to uneven revenue flux throughout the year.