Shadowfax Technologies' IPO: A Rising Star in E-commerce Logistics

Shadowfax Technologies Ltd's IPO saw 60% subscription on its second day. The Rs 1,907 crore offering includes a fresh issue and an offer for sale. The proceeds aim to expand infrastructure and branding. Supported by key investors, Shadowfax leads in e-commerce logistics services.

The initial public offering (IPO) of Shadowfax Technologies Ltd, a prominent logistics services provider, garnered a 60% subscription by its second bidding day.

Data from the National Stock Exchange reveals that investors bid for 5,33,05,920 shares out of the 8,90,88,807 shares available. Retail individual investors contributed with a subscription of 1.64 times, while qualified institutional buyers and non-institutional investors accounted for 38% and 33% respectively.

Shadowfax has already secured Rs 856 crore from anchor investors, with its Rs 1,907-crore offering open for subscription until January 22. The company plans to use proceeds from the fresh issue to enhance network infrastructure and lease payments, alongside marketing and potential acquisitions.

(With inputs from agencies.)