Shadowfax sets price band of Rs 118 - Rs 124 per share for IPO
Shadowfax's offering will include a fresh issue of shares worth Rs 1,000 crore and an offer-for-sale of Rs 907.3 crore.
Flipkart-backed Shadowfax will offer shares in the price band of Rs 118 to Rs 124 per equity share, in its initial public offering (IPO), according to a newspaper ad the company placed on Wednesday.
The offering, which will open for subscription on January 20, will have a total offer size of Rs 1,907.2 crore. It will include a fresh issue of shares worth Rs 1,000 crore and an offer-for-sale of Rs 907.3 crore worth of shares being offloaded by investors, according to the company’s red herring prospectus, which it had filed with the Registrar of Companies on Tuesday.
Flipkart, Eight Roads Investments, Qualcomm, Nokia Growth Partners, NewQuest, International Finance Corporation, and Mirae Asset are the selling shareholders in the IPO.
The one-day anchor bidding will open on January 19, and Shadowfax shares are expected to be listed on public bourses on January 28.
About 75% of the net offer is reserved for qualified institutional buyers, with not more than 15% reserved for non-institutional buyers and up to 10% reserved for retail investors. Equity shares worth Rs 5 crore will be reserved for employees.
According to the company’s RHP, Shadowfax posted a profit of Rs 6.4 crore in FY25 compared with a loss of Rs 11.8 crore in the year-ago period. During this period, the company’s operating revenue rose 32% year-on-year to Rs 2,485 crore.
The company will use a major portion of the net proceeds from the listing to strengthen its network infrastructure, followed by funding lease payments for new first-mile, last-mile, and sorting centres, with a portion reserved for branding and marketing costs.
Edited by Suman Singh