Shadowfax Technologies IPO opens for subscription on January 20, 2026, and closes on January 22, 2026, with an issue size of ₹1,907 crore comprising fresh capital and offer for sale components. The Bengaluru-based logistics firm leads in tech-enabled last-mile delivery, serving e-commerce, quick commerce, and hyperlocal needs across 2,300+ cities through AI-optimized routing and a crowdsourced fleet network. Shadowfax Technologies IPO taps into India’s surging e-commerce volumes and digital supply chain evolution, positioning investors for growth in a high-demand logistics landscape fueled by urban expansion.
₹00
₹124
₹
Expert Opinions
Market sentiment surrounding Shadowfax Technologies IPO reflects cautious optimism amid strong e-commerce tailwinds, tempered by valuation concerns and peer competition. Company strengths lie in its asset-light model, proprietary AI-driven logistics platform processing over 436 million orders in FY 2025, and extensive coverage across 5,000+ pincodes serving quick commerce leaders. Risks include razor-thin margins below 2%, heavy reliance on major clients like Flipkart, and pricing pressures from rivals such as Delhivery.
Valuation analysis for Shadowfax Technologies IPO and year 2025 reveals a Price/Sales multiple around 2.8x, with revenue growth of 32% yet modest PAT of ₹6.4 crore, trading at premium growth multiples versus peers. Long-term investment perspective favors high-conviction portfolios betting on digital commerce acceleration, though execution on profitability remains critical over 3-5 years.
Investor Considerations
Shadowfax Technologies IPO investors should evaluate the company’s turnaround with revenue surging 32% to ₹2,515 crore and achieving PAT of ₹6.43 crore in FY 2025 after prior losses. Logistics sector outlook accelerates with e-commerce penetration rising from 7-8% to projected 13-14% by FY30, boosting last-mile delivery demand. Valuation analysis for Shadowfax Technologies IPO in 2025 reveals Price to Book Value of 8.97, EBITDA Margin of 1.96%, and RONW of 0.97%, signaling premium pricing despite thin profitability.
Growth prospects hinge on network expansion, inorganic acquisitions, and quick commerce dominance across 14,700+ pincodes. Risk factors feature client concentration with Flipkart, pricing pressures, and sustained low margins. Long-term horizons suit growth-focused portfolios leveraging digital commerce trends, whereas short-term plays risk volatility from execution hurdles and peer competition.
| Date | GMP | Trend |
|---|---|---|
| 27 Jan 2026 21.33 | ₹00 | --- |
| 26 Jan 2026 18.32 | ₹00 | --- |
| 22 Jan 2026 21.15 | ₹00 | --- |
| 21 Jan 2026 20.28 | ₹00 | Down |
| 19 Jan 2026 20.29 | ₹7 | Down |
| 18 Jan 2026 12.44 | ₹10 | --- |
FAQs
Shadowfax Technologies IPO Current GMP is ₹00.
Shadowfax Technologies IPO Expected Returns is 0.00%.
Shadowfax Technologies IPO estimated listing price is ₹124.