Shadowfax IPO Price Band Fixed: ₹118-₹124, Eyes ₹7,168 Cr Valuation
Overview
Logistics major Shadowfax has set its IPO price band at INR 118-124 per share, valuing the company at INR 7,168 crore. The offering comprises a INR 1,000 crore fresh issue and a INR 907 crore OFS, aiming to fund infrastructure and expansion amid strong revenue and profit growth.
Logistics firm Shadowfax has announced its Initial Public Offering (IPO) price band, set between INR 118 and INR 124 per share. This move values the company at an estimated INR 7,168 crore, signaling its planned entry into the public market. The IPO will open for subscriptions on January 20, 2026.
IPO Structure and Shareholder Dynamics
The offering combines a fresh issuance of shares valued up to INR 1,000 crore with an Offer for Sale (OFS) component of up to INR 907.27 crore. Major shareholders, including Flipkart Internet, which holds a 14.83% stake, are participating in the OFS to provide liquidity for early investors.
Business Model and Growth Trajectory
Founded in 2015, ShadowFax specializes in last-mile and hyperlocal deliveries, serving the rapidly expanding e-commerce, food delivery, and quick commerce sectors across India. Quick commerce, contributing 20-21% of revenue, is the company's fastest-growing segment.
Financial Highlights
In the first half of fiscal year 2026 (H1 FY26), ShadowFax reported a significant 68.3% surge in operating revenue, reaching INR 1,805 crore from INR 1,072 crore in H1 FY25. Net profit more than doubled, increasing by 114.3% to INR 21 crore compared to INR 9.8 crore in the prior fiscal period.
