Shadowfax Technologies IPO Day 3 update as subscription reaches 60% with GMP and key dates in focus

Shadowfax Technologies IPO entered Day 3 with moderate investor response, as the issue was subscribed around 60% by the end of Day 2. The Bengaluru-based logistics company opened its IPO on January 20 and will close today, January 22, with a price band of ₹118–124 per share. Ahead of the issue, the company raised ₹856.02 crore from anchor investors. The IPO allotment is expected on January 23, refunds and demat credit are likely on January 27, and the stock is scheduled to list on the BSE and NSE on January 28. Shadowfax focuses on last-mile logistics, offering e-commerce, hyperlocal, and quick-commerce delivery solutions. The grey market premium is currently around ₹1.5, indicating a muted listing gain of about 1% over the upper price band. Overall, the IPO reflects steady interest, supported by the company’s strong presence in India’s growing logistics and e-commerce delivery segment.