Shadowfax Technologies Set to Launch IPO with Price Band Between ₹118 and ₹124
Chandigarh, January 14, 2026 — Shadowfax Technologies Limited has announced the details of its much-anticipated initial public offering (IPO), which is scheduled to open for bidding on January 20, 2026. The public offering is expected to capture significant interest, with a price band fixed between ₹118 to ₹124 per equity share, translating to a premium of 11.8 times to 12.4 times the face value of ₹10 per share.
IPO Bid Details and Structure
The bidding process for investors begins on January 20, 2026, and will close shortly thereafter on January 22, 2026. However, Anchor Investors will have the opportunity to place their bids one day earlier, on January 19, 2026.
Investors will be able to bid for a minimum lot of 120 equity shares, with additional bids allowed in multiples of this minimum bid size. The total offer size is projected to reach up to ₹1,907.27 crore, including a fresh issue of ₹1,000 crore and an offer for sale of ₹907.27 crore. Shadowfax aims to utilize the capital raised to accelerate its growth and further enhance its operational capabilities.
Investment Management and Regulatory Compliance
The equity shares from this IPO will be listed on both BSE Limited and the National Stock Exchange of India Limited, with the NSE designated as the main exchange for the offer. Leading financial institutions, ICICI Securities Limited, Morgan Stanley India Company Private Limited, and JM Financial Limited, have been appointed as the book running lead managers to oversee the IPO process.
As part of the offering strategy, a significant portion of the equity shares, up to 75%, will be allocated to Qualified Institutional Buyers (QIBs), ensuring that institutional investors have solid opportunities in the offering. Furthermore, the company has laid out a specific allocation strategy for domestic mutual funds, life insurance companies, and pension funds within the QIB portion, demonstrating a prudent approach to institutional investment.
To ensure liquidity and attract retail investors, a generous 10% of the net offer is reserved for Retail Individual Bidders (RIBs). Eligibility criteria dictate that all bids must be submitted through the Application Supported by Blocked Amount (ASBA) process, mandating participants to provide their ASBA account details during the bidding period.
With the IPO, Shadowfax Technologies aims to capitalize on the expanding technology landscape, positioning itself as a competitive player in the industry. The company’s strategic focus on growth and innovation underpins its efforts to attract a diverse investor base, from institutional to retail categories.
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