Shadowfax Technologies IPO allotment status LIVE: Check GMP, steps to track status online

At around a 2.8× Price-to-Sales multiple, the IPO valuation is relatively high compared with peers such as Delhivery, making it a pricier play in the logistics space. as small player have lot of growth space in industry hence long term can be promising.

• An asset-light logistics platform powered by proprietary technology, offering pan-India coverage.

• Established footprint across rapidly expanding segments, including e-commerce and quick commerce.

• A highly scalable delivery infrastructure serving more than 14,700 PIN codes nationwide.

• In-house technology stack supporting route optimization, delivery partner management, and robust security systems.

• Deep, long-term partnerships with leading enterprise customers.

As of September 30, 2025, Shadowfax had established a nationwide logistics footprint comprising 4,299 operational touchpoints. These touchpoints span first-mile and last-mile delivery centers as well as sortation hubs, collectively enabling service coverage across 14,758 PIN codes.

Shadowfax’s client roster features a wide range of well-known brands, such as Meesho, Flipkart, Myntra, Swiggy, BigBasket, Zepto, Nykaa, Blinkit, Kartrocket, Zomato, Uber, Pincode, Purplle, Licious, ONDC, and Magicpin, among others.

In FY2025, the platform handled a total of 43.64 crore shipments, recording a compound annual growth rate (CAGR) of 29.77% since FY2023. During the six-month period ended September 30, 2025, order volumes reached 29.45 crore, translating into a CAGR of 50.11% compared with the corresponding six-month period ended September 30, 2024.

To deepen digital commerce penetration in India and deliver scalable solutions to its customers, Shadowfax relies on three key pillars:

• A pan-India logistics infrastructure
• A dense intra-city last-mile delivery network powered by gig-based delivery partners
• A proprietary technology platform incorporating an intelligent supply-demand allocation engine

• IPO Open Date: Tuesday, January 20, 2026
• IPO Close Date: Thursday, January 22, 2026
• Allotment Date: Friday, January 23, 2026
• Refunds Initiated: Tuesday, January 27, 2026
• Credit of Shares: Tuesday, January 27, 2026
• Listing Date: Wednesday, January 28, 2026

Market Leadership in High-Growth Segments: Shadowfax is the only 3PL player in India combining e-commerce express (multi-day) and hyperlocal (30-minute) delivery at scale. It leads the market in reverse logistics (returns) and 3PL quick-commerce volumes.

Scalable Asset-Light Model: By crowdsourcing its fleet of 3.5 million+ registered partners and leasing facilities, the company maintains low fixed costs. This resulted in a sector-leading Capital Turnover Ratio of 3.96x in FY25.

Rapid Profitability Inflection: The company turned profitable in FY25 and saw net profit surge 114% to ₹21 crore in H1 FY26. This improvement was driven by operating leverage rather than cost-cutting, with revenue growing 68% during the same period.

Expanding Market Share: Shadowfax increased its share of India’s 3PL e-commerce shipments from 8% in FY22 to 23% in FY25, effectively capturing volumes from larger established rivals.

Strategic Ecosystem: Backed by Flipkart, Shadowfax serves as a critical backbone for India’s digital economy. Its proprietary AI platforms (SF Maps & Frodo) provide a technological edge in route optimization and address intelligence, creating a high barrier to entry.

1. Visit IPO registrar’s website on this link - https://ipostatus.kfintech.com/

2. Choose ‘Shadowfax Technologies Limited’ in the Select IPO dropdown menu

3. Select either Application No, Demat Account, or PAN

4. Enter the details as per the option selected

5. Enter the Captcha code and click on Submit

1. Head to the NSE IPO allotment page using this link: https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids

2. Select Equity & SME IPO bid details

3. From the dropdown, select the symbol: Shadowfax Technologies

4. Enter your PAN Number and your Application Number

5. Hit Submit

1. Head to the BSE website using this link: https://www.bseindia.com/investors/appli_check.aspx

2. Select issue type as 'equity'

3. From the issue name dropdown, pick Shadowfax

4. Enter application number or PAN number

5. Select I am not a robot

6. Hit search

The ₹1,907-crore issue was priced at ₹118–124 per share. The issue comprised a fresh issue of shares worth ₹1,000 crore and an offer for sale (OFS) of ₹907.27 crore by existing shareholders, taking the total issue size to ₹1,907.27 crore.

Shadowfax Technologies IPO was subscribed 2.72 times on the final day of bidding. The portion reserved for qualified institutional buyers (QIBs) was subscribed 3.81 times, while the retail individual investors (RIIs) segment saw 2.31 times subscription. The non-institutional investors’ category did not sail through and was last subscribed 84%.

Shadowfax Technologies IPO grey market premium (GMP) remains nil. This means that the shares of Shadowfax Technologies are trading at par with the upper end of the price band in the grey market.

At the current GMP, Shadowfax Technologies IPO listing price could be ₹124, offering no premium or discount against the offer price.

Since the offer closed on Thursday, Shadowfax Technologies' IPO allotment date is today (Friday, January 23). Investors can check Shadowfax Technologies IPO allotment status online by visiting the website of BSE, NSE or the registrar of the company.