Shadowfax Technologies Ltd IPO
IPO Timeline
Category-wise Subscription
| Category | Sub (x) | Offered | Bid For | Amt (Cr)* |
|---|---|---|---|---|
| QIB | — | 115,056,593 (75%) | — | ₹142,670 Cr |
| NII (HNI) | — | 23,011,319 (15%) | — | ₹28,534 Cr |
| Retail | — | 15,340,879 (10%) | — | ₹1,902 Cr |
| Employee | — | 403,226 (0%) | — | ₹50 Cr |
| Σ Total | — | 153,812,017 (100%) | — | ₹1,907,269 Cr |
Only available investor categories are shown. Amount is auto-calculated when shares offered and issue price are available.
Issue Details
Minimum Investment (Lot-wise)
| Category | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 1 | 120 | ₹14,880 |
| Retail (Max) | 13 | 1,560 | ₹193,440 |
| S-HNI (Min) | 14 | 1,680 | ₹208,320 |
| B-HNI (Min) | 67 | 8,040 | ₹996,960 |
Financial Statements Amount in ₹ Crore
| Metric | 30 Sep 2025 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Revenue | 1,820 | 2,515 | 1,896 |
| EBITDA | 64 | 56 | 11 |
| Profit After Tax | 21 | 6 | -12 |
| Net Worth | 694 | 660 | 422 |
| Total Assets | 1,453 | 1,259 | 786 |
| Reserves & Surplus | 281 | 248 | 172 |
| Total Borrowing | 147 | 132 | 40 |
Valuation & Key Ratios
Grey Market Premium (GMP)
GMP is an unofficial grey market indicator and does not guarantee actual listing price. Invest at your own risk.
Objects of the Issue
- Funding of capital expenditure requirements of the Company in relation to the network infrastructure – 423.43
- Funding of lease payments for new first mile centers, last mile centers and sort centers – 138.64
- Funding of branding, marketing and communication costs – 88.57
- Unidentified inorganic acquisitions and general corporate purposes –
Company Overview
Incorporated in June 2016, Shadowfax Technologies Ltd is a logistics solution provider company in India. The company offers e-commerce express parcel delivery and a suite of value-added offerings.
Its service offerings include e-commerce and D2C delivery, hyperlocal & quick commerce within hours or same day, and SMS & personal courier services through Shadowfax's Flash app.
The company's nationwide logistics network includes 4,299 touchpoints across first- and last-mile centres and sort centres as of September 30, 2025, serving 14,758 pin codes. It is supported by over 3.50 million sq ft of operational space, including 53 sort centres covering 1.80 million sq ft, for shipment consolidation, sorting, and dispatch.
The company leases its logistics facilities and linehaul, owning automation and machinery for control.
It operates a dedicated fleet of over 3,000 trucks daily as part of its asset-light linehaul network.
As of September 30, 2025, the company's platform had 205,864 Average Quarterly Unique Transacting Delivery Partners.
The company's clients include Meesho, Flipkart, Myntra, Swiggy, Bigbasket, Zepto, Nykaa, Blinkit, Kartrocket, Zomato, Uber, Pincode, Purplle, Licious, ONDC, Magicpin, among others. This makes them the only large-scale provider for last-mile and end-to-end e-commerce delivery, as well as quick commerce, food delivery, and hyperlocal services.
By September 30, 2025, the company's e-commerce logistics network spanned 14,758 pin codes throughout India.
As of September 30, 2025, the company had 4,472 permanent employees and 17,182 contract workers.
Competitive Strength:
- Agile and customisable logistics services that enable faster go-to-market for clients.
- Largest last-mile gig-based delivery partner infrastructure.
- Network infrastructure serves as the backbone of our efficient and scalable delivery system.
- Proprietary and agile technology capabilities.
- Proven business model, with focus on profitability, while delivering healthy growth.
- Experienced management team supported by entrepreneurial founders.