The Shadowfax IPO is set to hit the primary market on January 20, marking an important moment for India’s fast-growing logistics and e-commerce ecosystem. The company is stepping into the public markets at a time when logistics continues to play a critical role in powering online commerce, quick deliveries, and hyperlocal services across the country.
Here’s a clear, story-driven breakdown of everything that matters—without hype, without recommendations, and strictly within the reference details.
Market Performance: Shadowfax IPO Set to Enter Primary Market
The Shadowfax IPO will open for subscription on January 20 and close on January 22. Ahead of the public issue, the anchor investor bidding is scheduled for January 19, as per the company’s official announcement.
Shares of Shadowfax are expected to make their market debut on January 28, when the stock is likely to list on the exchanges.
This IPO places Shadowfax among the key new-age logistics players opting for public markets as the sector matures and scales.
Main News: Shadowfax IPO Price Band and Issue Size
Shadowfax has fixed a price band of ₹118 to ₹124 per share for its maiden public offering.
At the higher end of the price range, the Shadowfax IPO places the company’s valuation at more than ₹7,100 crore.
Key IPO Details at a Glance
- IPO Opening Date: January 20
- IPO Closing Date: January 22
- Anchor Investor Bidding: January 19
- Price Band: ₹118 – ₹124 per share
- Issue Size: ₹1,907 crore
- Expected Listing Date: January 28
The IPO size and valuation highlight Shadowfax’s scale within the logistics space, especially in e-commerce-driven delivery services.
Company Details: Inside Shadowfax’s Business Model
Shadowfax is a logistics services provider focused on e-commerce express parcel delivery and value-added logistics solutions. Over the years, the company has built a wide and dense delivery network to support high-volume and time-sensitive operations.
As of September 2025, Shadowfax’s service network covered 14,758 pin codes across India, underlining its national footprint.
Client Segments Served
Shadowfax works with a broad mix of enterprise customers, including:
- Horizontal and non-horizontal e-commerce platforms
- Quick commerce companies
- Food marketplaces
- On-demand mobility and hyperlocal service providers
Its diversified client base reflects the company’s positioning across multiple fast-moving digital commerce categories.
Services Offered by Shadowfax
The company offers multiple logistics solutions built to handle large volumes while ensuring fast and flexible deliveries.
Key services include:
- Express forward parcel deliveries
- Reverse logistics and pickups
- On-demand hyperlocal deliveries
- Critical and time-sensitive logistics solutions
These offerings allow Shadowfax to serve both large enterprises and platforms requiring last-mile and first-mile logistics support.
Use of IPO Proceeds
According to the public announcement, proceeds from the Shadowfax IPO will be used for several operational and growth-related initiatives.
The planned utilisation includes:
- Enhancing network infrastructure capacity
- Funding lease payments for new:
- First-mile centres
- Last-mile centres
- Sortation centres
- Spending on branding, marketing, and communication initiatives
- Pursuing unidentified inorganic acquisitions
- Supporting general corporate purposes
The focus remains on expanding capacity and strengthening operational capabilities.
Prominent Investors Backing Shadowfax
Shadowfax is backed by several well-known institutional investors, reflecting long-term participation in the company’s growth journey.
Key investors include:
- Flipkart
- TPG
- Eight Roads Ventures
- Mirae Asset Ventures
- Nokia Growth Funds
Their involvement highlights Shadowfax’s evolution from a private logistics platform to a publicly listed company.
Summary: What the Shadowfax IPO Brings to the Market?
The Shadowfax IPO marks a significant step for one of India’s leading e-commerce-focused logistics providers. With a price band of ₹118–₹124, an issue size of ₹1,907 crore, and a valuation crossing ₹7,100 crore, the offering places Shadowfax firmly in the spotlight ahead of its January 28 listing.
Its wide service network spanning 14,758 pin codes, diversified client base, and focus on express, reverse, and hyperlocal logistics define the company’s core strength. As the IPO opens on January 20, market participants will closely track how this logistics player transitions into its next phase as a listed entity.
This is not a story of forecasts or opinions—it’s simply the next chapter in Shadowfax’s journey to the public markets.
Source: Moneycontrol
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