Shadowfax IPO GMP rises up to 9% ahead of share sale on Jan 20; check key details

Shadowfax IPO GMP rises.

• Shadowfax IPO opens Jan 20 with price band of Rs 118-124 per share
• Grey market premium for Shadowfax IPO rises up to 9 percent ahead of listing
• IPO proceeds to fund network expansion, branding, and corporate purposes

Did our AI summary help?

Shadowfax IPO GMP rose up to 9 percent on Monday as the issue is set to hit the primary market on January 20.

According to platforms tracking the grey market activities, the shares of Shadowfax are commanding a GMP of up to 9 perent in the unofficial market. Investorgain quoted a GMP of Rs 11 for the shares of the company, indicating a listing gain of 8.87 percent. Meanwhile, IPO Watch quoted a GMP of 8 percent.

Logistics services provider Shadowfax on Wednesday fixed a price band of Rs 118 to Rs 124 apiece for its upcoming initial public offering (IPO), valuing the company at over Rs 7,100 crore at the higher end.

The company's Rs 1,907-crore maiden public offering will open for subscription on January 20 and conclude on January 22. The bidding for anchor investors will take place on January 19, according to the logistics services firm's public announcement.

Check All IPO News

The company proposes to utilise proceeds from the fresh issue towards funding enhancing capacity in terms of network infrastructure, funding of lease payments for new first mile, last mile, and sort centres, as well as towards branding, marketing, and communication initiatives, unidentified inorganic acquisitions, and general corporate purposes.

Shadowfax is backed by marquee investors such as Flipkart, TPG, Eight Roads Ventures, Mirae Asset Ventures, and Nokia Growth Funds. It is India's leading logistics service provider for e-commerce express parcel and value-added services. It has a service network encompassing 14,758 Indian pin codes as of September 2025.

The company serves a wide range of enterprise clients, including horizontal and non-horizontal e-commerce, quick commerce, food marketplaces, and on-demand mobility companies. It offers express forward parcel deliveries, reverse pickups, and on-demand hyperlocal and critical logistics solutions.

Shares of Shadowfax are expected to list on January 28 on the bourses.

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.