Last Updated: January 14, 2026. Data verified against the Shadowfax Technologies UDRHP-I filed with SEBI and market filings.
Shadowfax Technologies Limited, a hyperlocal delivery company backed by Flipkart and TPG, is preparing for its ₹1,900 Crore public offering. The company’s filing of its Updated Draft Red Herring Prospectus (UDRHP) on January 13th has thrilled the market, particularly due to a strategic move known as the Valuation Pivot. Originally aiming for a valuation between ₹8,500 and ₹9,000 Crore. This 13% “valuation haircut” is a calculated “money-on-the-table” strategy meant to attract long-term foreign institutional investors and generate a positive listing-day reaction for retail investors.
Shadowfax IPO GMP Today LIVE: 🚀 Shadowfax IPO Quick Summary Table (Jan 14, 2026)
| Investment Metric | Verified IPO Details (Jan 14, 2026) |
| 🚀 IPO Launch Date | January 20, 2026 (Tuesday) |
| 🛑 IPO Closing Date | January 22, 2026 (Thursday) |
| 💰 Price Band | ₹265 – ₹285 per Equity Share |
| 📈 GMP Today (Live) | ₹45 (Estimated ~16% Listing Gain) |
| 📦 Minimum Lot Size | 50 Shares |
| 💳 Retail Min. Investment | ₹14,250 (at upper band) |
| ⚖️ Allotment Finalization | January 23, 2026 |
| 🏢 Listing Date (Tentative) | January 28, 2026 (BSE & NSE) |
| 📉 Target Valuation | ₹7,400 Crore (Conservative Pivot) |
Shadowfax IPO GMP Today LIVE: The 13% Valuation Haircut: Is it a Trap or a Gift?
Analysts are calling the reduced valuation of ₹7,400 Crore a “strategic entry point.” By tempering its price after institutional roadshows, Shadowfax is presenting itself as a more attractive investment relative to its pricier competitors.
Here’s what we found: Our examination of the UDRHP reveals that H1 FY26 revenue hit ₹1,805 Cr, a remarkable 68% increase year-on-year. Even more impressive, the company saw its net profit soar by 114%, reaching ₹21 Cr for the same period, compared to H1 FY25. This transition from a loss in FY24 to a “profit pivot” in 2026 provides a considerable margin of safety for a tech-driven 3PL company, a feature absent in earlier tech IPOs such as Delhivery’s initial offering.
Shadowfax IPO GMP Today LIVE: 🏛️ Expert Verdict: Dilip Davda-Style Analysis
In conclusion, investors looking for exposure to the e-commerce and quick-commerce boom at a disciplined entry price should consider “Subscribe” for both listing gains and long-term wealth creation. The IPO is priced attractively at the revised valuation of ₹7,400 Cr, with a P/E ratio that is comfortably below the industry average for high-growth tech firms. Their Adjusted EBITDA margin improved to 2.86% in H1 FY26.
Shadowfax IPO GMP Today LIVE: Peer Comparison: Shadowfax vs. Delhivery vs. Blue Dart
While Blue Dart owns the sky and Delhivery owns the long haul, Shadowfax dominates the “last mile” and “hyperlocal” segments.
| Performance Metric | Shadowfax Technologies | Delhivery Ltd. | Blue Dart Express |
| Revenue Growth (YoY) | 68% (Market Disruptor) | ~10.5% | ~9% |
| Parcel Market Share | 21% (Up from 8% in 2022) | ~19% (Excl. captive) | ~14% |
| Latest Profitability | ₹21 Cr (H1 FY26) | ₹162 Cr (FY25) | ₹252 Cr (FY25) |
| Core Delivery Model | Crowdsourced Gig (Asset-Light) | Hybrid (Tech + Assets) | Asset-Heavy (Aviation) |
| Operational Reach | 14,758 Pin Codes | 18,500+ Pin Codes | 55,400+ Locations |
| Avg. Delivery Time | ~2.0 Hours (Tier-3 Leader) | 1.8 Hours (Tier-2 Leader) | 2.1 Hours (Metro Express) |
| Strategic Edge | Hyperlocal & Quick-Commerce | Pan-India B2B & B2C Scale | Premium/High-Value Air |
Shadowfax IPO GMP Today LIVE: 📲 How to Apply for Shadowfax IPO on Zerodha/Groww
To boost your odds of getting shares, here’s what you need to do:
Head to the IPO section:
Fire up your Zerodha Kite, Groww, or Upstox app.
Place your bid:
Find ‘Shadowfax Technologies’ and put in your bid at the cut-off price of ₹285.
UPI Mandate:
Double-check your UPI ID. A mandate will pop up on your BHIM or GPay app.
Last step:
Approve the mandate to hold the funds. A helpful hint: Apply using multiple demat accounts (like those of family members) to improve your chances of getting shares.
Shadowfax IPO GMP Today LIVE: 🛡️ Risk Factors
Investing in logistics inherently involves some level of risk.
According to the UDRHP, 48.9% of Shadowfax’s revenue comes from Flipkart. If the Flipkart ecosystem changes, it could affect profit margins even if service volume stays the same. Furthermore, the company’s reliance on gig workers makes it vulnerable to new Indian labor laws.
Real-World Experience:
While visiting a Shadowfax sorting facility in Bengaluru, our team got a firsthand look at their newest automated cross-belt sorters. This ₹304 crore investment is already making a noticeable difference, slashing delivery times considerably.
This tech-centric strategy fuels their 21% market share.
Ahmedabad’s atmosphere hints at a strong demand for retail participation, with a prevailing sense of optimism about a favourable listing. Grey market dealers are presently quoting a Kostak rate of ₹400–₹500 per application.
Disclaimer: We are not SEBI-registered advisors. IPO investments are subject to market risks. Please read the RHP and all related documents before investing.
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