Bengaluru-based logistics and last-mile delivery firm Shadowfax Technologies has raised Rs. 856 crore from anchor investors ahead of its initial public offering. The shares were allotted at the upper end of the price band at Rs. 124 per share, signalling institutional confidence as the company heads to the public markets.
The anchor book saw participation from 39 institutional investors, including domestic mutual funds and global funds. The IPO is scheduled to open for public subscription on January 20 and will close on January 22. Shadowfax’s public issue is sized at Rs. 1,907 crore, comprising a Rs 1,000 crore fresh issue and a Rs. 907 crore offer for sale by existing shareholders.
At the upper price band, the company is valued at approximately Rs. 7,169 crore post-money, lower than earlier market expectations, reflecting a calibrated approach amid cautious capital market sentiment. Proceeds from the fresh issue will be used to fund network expansion, technology investments, and strengthening of its logistics infrastructure across India.
