Shadowfax IPO Allotment Finalized As GMP Falls

Shadowfax Technologies, supported by Flipkart, has completed the allotment process for its Rs 1,907.27 crore initial public offering. The IPO included Rs 1,000 crore worth of fresh shares and Rs 907.27 crore through an offer for sale by existing shareholders. The price band was set between Rs 118 and Rs 124 per share.  

Despite strong anchor investor participation of Rs 856 crore, the grey market premium has crashed, reflecting subdued expectations for listing gains. Investors can check their allotment status online via the BSE, NSE, or the registrar’s website. Refunds and credit of shares to Demat accounts are expected to follow shortly.  

Key Highlights  

• IPO size: Rs 1,907.27 crore with fresh issue and OFS components  
• Subscription: 2.72 times overall bids received  
• Anchor investors contributed Rs 856.02 crore on January 19  
• Price band fixed at Rs 118–124 per share  
• Grey market premium (GMP) dropped significantly ahead of listing  
• Allotment status available on BSE, NSE, and registrar portals  

Future Outlook  
The listing of Shadowfax Technologies will be closely watched as a test of investor appetite for logistics-focused startups. While GMP trends suggest caution, long-term prospects may hinge on the company’s ability to scale operations and leverage Flipkart’s backing.  

Sources: Financial Express, Mint, Business Standard