The public issue received bids for 5.98 Cr shares against 8.9 Cr shares on offer.
Retail investors continued to lead in terms of subscription, placing bids for 3.06 Cr shares against 1.61 Cr reserved for them.
The portion reserved for employees was oversubscribed 1.69X, getting bids for 7.17 Lakh shares against 4.23 Lakh shares on offer.
Updated | January 22, 19:18 PM
ShadowFax IPO closed with an oversubscription of 2.72X, receiving total bids for 24.23 Cr shares against 8.9 Cr shares on offer.
The issue received highest interest from qualified institutional buyers (QIBs), with these investors oversubscribing their portion by 3.81X. QIBs placed bids for 18.4 Cr shares against 4.83 Cr. In this category, foreign institutional investors led the charge, bidding for 10.98 Cr shares.
Retail investors (RIIs) placed bids for 3.71 Cr shares against 1.61 Cr reserved for them, translating to an oversubscription of 2.31X. The company’s employees also bid for 8.76 Lakh shares, oversubscribing their quota by 2.07X.
Meanwhile, interest from non institutional investors (NIIs) lagged, with these investors only subscribing to 84% of their quota. NIIs placed bids for 2.03 Cr shares against 2.41 Cr shares reserved for them.
Original | January 22, 13:23 PM
Logistics major Shadowfax’s IPO was subscribed 67% as of 12:25 IST on the third day of bidding. The public issue received bids for 5.98 Cr shares against 8.9 Cr shares on offer.
Retail investors continued to lead in terms of subscription, placing bids for 3.06 Cr shares against 1.61 Cr reserved for them. This translated to an oversubscription of 1.9X.
Similarly, the portion reserved for employees was oversubscribed 1.69X, getting bids for 7.17 Lakh shares against 4.23 Lakh shares on offer.
However, the portion reserved for qualified institutional buyers (QIBs) and non-institutional investors (NIIs) was undersubscribed. QIBs placed bids for 1.82 Cr shares against 4.83 Cr shares reserved for them, translating to a 37.8% subscription.
NIIs subscribed 43.6% of their portion by placing bids for 1.05 Cr shares out of 2.41 Cr total shares on offer.
The public issue was subscribed 58% on the second day of bidding.
Shadowfax’s IPO comprises a fresh issue of equity shares worth up to INR 1,000 Cr and an offer for sale (OFS) aggregating INR 907.27 Cr. As part of the OFS, Flipkart Internet intends to divest shares worth up to INR 400 Cr. x, y, and z are among the other shareholders selling their shares.
The company has fixed a price band of INR 118 to INR 124 per share for the issue. At the upper end of the price band, the IPO values the company at INR 7,168 Cr (about $795 Mn). Shadowfax’s shares are expected to list on the exchanges on January 28.
Earlier this week, the company raised INR 856 Cr from anchor investors.
On the financial front, the logistics major reported a 68% increase in operating revenue to INR 1,805 Cr in the first half of FY26 (H1 FY26) from INR 1,072 Cr in the same period last year. Its net profit more than doubled to INR 21 Cr from INR 9.8 Cr in H1 FY25.
Following its listing, Shadowfax will become the second new-age tech company to go public in 2026, after Amagi. Yesterday, shares of the media SaaS major made a muted debut on the exchangeslisting at a discount of over 12% to the issue price.
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