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Shadowfax IPO closes with 2.7X overall subscription

EntrackrEntrackr · 15d ago
Shadowfax IPO closes with 2.7X overall subscription
Medial

Shadowfax IPO closes with 2.7X overall subscription Logistics and last-mile delivery firm Shadowfax Technologies received a muted response to its IPO, with the issue subscribed just 2.72 times, while QIBs accounted for 3.81 times the bids. According to exchange data, Qualified Institutional Buyers (QIBs) led the demand with a 3.8x subscription, followed by retail investors at 2.3x and the employee quota at 2x, while Non-Institutional Investors (NIIs) subscribed just 0.84x. The IPO was open for bidding from January 20 to 22 at a price band of Rs 118–124 per share, with a lot size of 120 shares and a minimum investment of Rs 14,160. The share allotment is expected on January 23, and the company is set to list on the BSE and NSE on January 28. Shadowfax’s IPO comprises a fresh issue of around Rs 1,000 crore and an offer-for-sale (OFS) component of approximately Rs 907 crore. Flipkart, one of Shadowfax’s early investors, is set to generate nearly 3X returns by selling shares worth about Rs 237 crore via the OFS, while Eight Roads Investments (Fidelity affiliate) is expected to clock around 10X returns on shares worth Rs 197 crore. Ahead of the public issue, the company allotted 6.9 crore equity shares to anchor investors at Rs 124 apiece, raising Rs 850 crore. The anchor book drew both domestic and global investors, including ICICI Prudential MF, Nippon India MF, Motilal Oswal MF, Government Pension Fund Global (Norges Bank), HSBC Global Investment Funds, and Societe Generale. Founded in 2015 by Abhishek Bansal, Vaibhav Khandelwal, Praharsh Chandra, and Gaurav Jaithliya, the Bengaluru-based firm provides last-mile delivery across e-commerce and hyperlocal sectors, serving over 14,000 pin codes through 1.25 lakh delivery partners. Shadowfax posted 32% year-on-year revenue growth to Rs 2,485 crore in FY25 and reported a net profit of Rs 6.4 crore. In H1 FY26, the company recorded Rs 1,806 crore in revenue and Rs 21 crore in profit.

Wakefit IPO closes with 2.52x overall subscription

EntrackrEntrackr · 1m ago
Wakefit IPO closes with 2.52x overall subscription
Medial

Wakefit IPO closes with 2.52x overall subscription Home and sleep solutions brand Wakefit saw its IPO subscribed 2.52 times, with both QIB and retail portions receiving over 3 times bids. According to exchange data, retail investors led the demand with a 3.17x subscription, followed by Qualified Institutional Buyers (QIBs) at 3.04x, while Non-Institutional Investors (NIIs) subscribed 1.05x. The IPO was open for bidding from December 8 to 10 with a price band of Rs 185–195 per share. Share allotment is expected on December 11, and the company is scheduled to list on the BSE and NSE on December 15. According to its RHP, the company aims to raise Rs 377.2 crore through a fresh issue of shares, along with an offer for sale (OFS) of 4.68 crore equity shares worth Rs 911.7 crore. As part of the OFS, Peak XV will earn a 10x return on its investment, cashing out around Rs 397 crore. Ahead of the public subscription, the firm allotted 2.97 crore equity shares to anchor investors at Rs 195 each, raising Rs 580 crore from 33 anchors. The anchor book saw participation from HDFC MF, Axis MF, Mahindra MF, Edelweiss MF, Tata MF, and others. From the fresh proceeds, Wakefit plans to use the funds for store-related lease payments, marketing, setting up new COCO stores, and purchasing equipment. Wakefit posted operating revenue of Rs 724 crore and a net profit of Rs 35.57 crore in the first half of FY26. In FY25, its operating revenue grew nearly 30% to Rs 1,274 crore, though the company ended the year with a net loss of Rs 35 crore.

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