Shadowfax IPO Allotment Status, Subscription Details & Listing Outlook

Shadowfax IPO opened its initial public offering on January 20, 2026, and closed subscriptions on January 22, 2026. The IPO had a total issue size of ₹1,907 crore, comprising a fresh issue of ₹1,000 crore and an offer for sale (OFS) of ₹907 crore. The price band for the issue was fixed at ₹118–₹124 per share.

The Shadowfax IPO allotment is expected on January 23, 2026, while the shares are scheduled to list on January 28, 2026, on both NSE and BSE.

Shadowfax is a tech-enabled logistics and last-mile delivery company serving e-commerce, quick commerce, D2C brands, and enterprise clients across India.

How to Check IPO Allotment Status

Option 1: On BSE Website

• Visit the BSE IPO Application Status page
• Select ‘Equity’ under Issue Type
• Choose “Shadowfax Technologies Ltd” under Issue Name
• Enter your Application Number or PAN
• Click ‘Submit’ to view your allotment status

Option 2: On NSE Website

• Visit the NSE IPO Allotment Status page
• Select ‘Equity’ and choose Shadowfax Technologies Ltd
• Enter your PAN or Application Number
• Click ‘Submit’

Option 3: On Registrar’s Website (KFin Technologies)

• Visit KFin Technologies’ official IPO allotment portal
• Select Shadowfax Technologies Ltd from the dropdown
• Enter any one of the following:
• PAN
• Application Number
• DP/Client ID
• Click ‘Submit’ to check status

IPO Subscription Status (As on Last Day)

Investor Category	Subscription (Times)
Qualified Institutional Buyers (QIBs)	3.81×
Non-Institutional Investors (NII)	0.83×
Retail Individual Investors (RII)	2.28×
Employees	2.04
Total	2.71×

Shadowfax Company Overview

Shadowfax is a technology-driven logistics platform specializing in last-mile delivery solutions across India. The company serves multiple high-growth segments including e-commerce, quick commerce, D2C brands, and enterprise logistics, enabling fast, reliable, and scalable deliveries through its asset-light model.

Founded in 2015 by Abhishek Bansal and Vaibhav Khandelwal, Shadowfax has shown strong financial momentum in recent years. The company reported a revenue CAGR of 32.52% from FY23 to FY25, with revenues reaching ₹2,485 crore in FY25. It turned EBITDA positive in FY24 and achieved profitability in FY25, supported by margin expansion and operating leverage.

Shadowfax IPO Outlook

The Shadowfax IPO witnessed strong participation from Qualified Institutional Buyers (QIBs), with subscriptions at 3.81×, indicating institutional confidence in Shadowfax’s business model and growth trajectory. Retail interest remained healthy at 2.28×, while the employee portion was subscribed 2.04×, reflecting internal confidence in the company. However, Non-Institutional Investor (NII) participation was relatively muted at 0.83×, keeping overall subscription at 2.71×.

With a modest grey market premium of ~₹1–₹6 (1–5%), listing expectations remain measured, particularly amid ongoing competition from listed peers such as Delhivery.