The grey market premium (GMP) of logistics services provider Shadowfax initial public offering (IPO) rose on Friday ahead of the issue opening next week.
According to platforms tracking grey market activity, Shadowfax shares are commanding a premium of over 12 percent. Investorgain quoted a GMP of Rs 15, indicating a potential listing gain of 12.10 percent, while IPO Watch pegged the GMP at around 12.9 percent.
The company has fixed a price band of Rs 118 to Rs 124 per share for the IPO, valuing it at over Rs 7,100 crore at the upper end of the band.
Shadowfax’s Rs 1,907-crore public issue will open for subscription on January 20 and close on January 22. The anchor investor bidding is scheduled for January 19, as per the company’s public announcement.
Proceeds from the fresh issue will be used to fund capacity expansion of network infrastructure, lease payments for new first-mile, last-mile and sort centres, branding, marketing and communication initiatives, unidentified inorganic acquisitions, and general corporate purposes.
Shadowfax is backed by investors including Flipkart, TPG, Eight Roads Ventures, Mirae Asset Ventures and Nokia Growth Funds. The company operates a logistics network covering 14,758 pin codes across India as of September 2025.
It serves enterprise clients across e-commerce, quick commerce, food marketplaces and on-demand mobility segments, offering services such as express parcel delivery, reverse pickups and hyperlocal logistics solutions.
Shares of Shadowfax are expected to be listed on the stock exchanges on January 28.
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