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Shadowfax IPO closes with 2.7X overall subscription

EntrackrEntrackr · 29d 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.

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Shadowfax lists at 9% discount on market debut

EntrackrEntrackr · 23d ago
Shadowfax lists at 9% discount on market debut
Medial

Shadowfax lists at 9% discount on market debut Logistics and last-mile delivery firm Shadowfax Technologies made a muted debut on the Indian stock exchanges on Wednesday, with its shares listing at a discount to the IPO issue price. The company’s shares listed at around Rs 112–113 on the NSE and BSE, nearly 9% lower than the IPO’s upper price band of Rs 124. Shadowfax had raised around Rs 1,907 crore through its initial public offering, which was open for subscription between January 20 and January 22. The IPO saw moderate overall demand. According to exchange data, Qualified Institutional Buyers (QIBs) led the subscription with 3.8x demand, followed by retail investors at 2.3x and the employee quota at 2x, while Non-Institutional Investors (NIIs) subscribed to just 0.84x of their allotted portion. Shadowfax’s IPO comprised a fresh issue of around Rs 1,000 crore and an offer-for-sale (OFS) 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 through the OFS, while Eight Roads Investments (a 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 per share, raising Rs 850 crore. Shadowfax operates in the last-mile and hyperlocal logistics space, serving ecommerce marketplaces, D2C brands and quick commerce players. It competes with players such as Delhivery, XpressBees, Ecom Express and Ekart, in a segment marked by intense competition and capital-intensive operations. According to data from TheKredible, Shadowfax has raised approximately $246 million to date. Eight Roads Ventures is the largest external stakeholder, followed by Flipkart, NewQuest Asia, and Nokia Growth Partners. Shadowfax reported 32% year-on-year growth in revenue to Rs 2,485 crore in FY25, along with a net profit of Rs 6.4 crore. For the first half of FY26, the company posted Rs 1,806 crore in revenue and Rs 21 crore in profit.

Wakefit IPO closes with 2.52x overall subscription

EntrackrEntrackr · 2m 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.

Shadowfax revenue grows 65% to Rs 1,159 Cr in Q3 FY6; profit spikes 5X

EntrackrEntrackr · 8d ago
Shadowfax revenue grows 65% to Rs 1,159 Cr in Q3 FY6; profit spikes 5X
Medial

Shadowfax Technologies has announced its financial results for Q3 FY26 after debuting on Indian stock exchanges last quarter. The firm’s revenue increased by 65% during the third quarter, while its profit stood at Rs 35 crore. The company’s revenue from operations increased to Rs 1,159 crore in Q3 FY26 from Rs 701 crore in the same quarter last year, according to its financial statement sourced from NSE. Shadowfax operates in the last-mile and hyperlocal logistics space, serving ecommerce marketplaces, D2C brands and quick commerce players. It competes with players such as Delhivery, XpressBees, Ecom Express and Ekart, in a segment marked by intense competition. Other income contributed an additional Rs 7 crore, which drove its total income of Rs 1,166 crore for the quarter. For the nine-month period ending December 2025, the firm’s revenue increased 67% to Rs 2,965 crore from Rs 1,772 crore a year earlier. The company did not provide proper expense breakup; however, its finance cost rose 65% to Rs 109 crore in Q3 FY25 from Rs 66 crore in Q3 FY25. Finance cost and depreciation cost stood at Rs 6 crore and Rs 32 crore respectively. Overall, the company’s total expense rose 62% to Rs 1,131 crore in Q3 FY26 from Rs 700 crore in Q3 FY25. Shadowfax posted a profit spiked 5X to Rs 35 crore in Q3 FY26, as compared to Rs 7 crore in Q3 FY25. On a sequential basis, the company’s profit increased 2.7X from Rs 13 crore in Q2 FY26. Shadowfax Technologies' shares debuted on Indian exchanges at a muted discount, listing at Rs 112–113 (nearly 9% below the Rs 124 IPO upper price band). The company had raised Rs 1,907 crore via the IPO, which was open from January 20–22. At the end of today’s trading session, Shadowfax’s share price traded at Rs 125, giving the firm a total market capitalization of Rs 6,249 crore ($796 million).

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