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.