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Founded in 2015 , Shadowfax is a leading logistics and delivery service provider based in Bangalore, India. The company offers a comprehensive range of services, including rapid parcel delivery, same-day and next-day delivery, doorstep-to-doorstep exchange, and Quick Commerce with 10-minute delivery times. Shadowfax has established a strong presence in the logistics sector, covering over 18,000 pin codes across more than 2,500 cities. With an impressive capacity of delivering over two million packages daily, the company is renowned for its swift service, often delivering packages within 30 to 60 minutes of order placement. This rapid delivery capability is becoming increasingly common in India.
Revenue Growth
Sotefin Bharat
| Companies Name | Open - Close | Issue Size | Min. Qty | Issue Price | Apply |
|---|---|---|---|---|---|
Sotefin Bharat SME | 16th Jul 2026 - 20th Jul 2026 | 89.76 Cr | 600 Shares | ₹ 178.00 | |
Caliber Mining & Logistics Mainboard | 17th Jul 2026 - 21st Jul 2026 | 450.00 Cr | 35 Shares | ₹ 402.00 |

Open Date
20 Jan 2026
Close Date
22 Jan 2026
Min Investment
₹14880
Lot Size
120 Shares
Issue Size
₹1907.27 Cr
Price Range
₹118 - ₹124
Listing Date
Jan 28, 2026
IPO Doc
RHP PDFCompany Valuation
Earning Expansion
The investment checklist helps you understand a company's financial health at a glance and identify quality investment opportunities easily.
The company will use ₹423.43 crore towards network infrastructure. ₹138.64 cr will fund lease payments for new logistics centres. The company will use ₹88.57 crore for branding, marketing and communication costs. IPO funds for acquisitions, general use & expenses.
Funding for capex
42.34%
Funding for Opex
13.86%
Marketing and advertising expenses
8.86%
General corporate purposes
34.94%
The company will use ₹423.43 crore towards network infrastructure.
₹138.64 cr will fund lease payments for new logistics centres.
The company will use ₹88.57 crore for branding, marketing and communication costs.
IPO funds for acquisitions, general use & expenses.
Times subscribed by category (bars capped at 10x for readability). Dashed line marks 1.0x (fully subscribed).
In Cr.
| Key Performance Indicator | 30-Sep-25 (In Cr.) | 31-Mar-25 (In Cr.) | 31-Mar-24 (In Cr.) | 31-Mar-23 (In Cr.) |
|---|---|---|---|---|
| Revenue | 1819.80 | 2514.66 | 1896.48 | 1422.89 |
| EBITDA | 64.34 | 56.19 | 11.37 | -113.47 |
| Expenses | ||||
| Profit After Tax | 21.04 | 6.43 | -11.88 | -142.64 |
| Assets | 1453.16 | 1259.26 | 786.14 | 442.73 |
| Net Worth | 693.53 | 660.43 | 421.78 | 176.32 |
| Reserves | 281.26 | 248.16 | 172.47 | 171.20 |
| Borrowing | 147.44 | 132.23 | 40.33 | 66.69 |
Abhishek Bansal
Vaibhav Khandelwal
19.41%
16.71%
Shadowfax Technologies
3rd Floor, Shilpitha Tech Park Sy No. 55/3 & 55/4 Outer Ring Road, Devarabisanahalli Village, Bellandur, Varthur Hobli, Bengaluru - 560103 Karnataka
The company delivers services to 14,758 pin codes through 4,299+ touchpoints in India. It also receives support from automated sort centres and follows an asset-light leased infrastructure model. As a result, the company has demonstrated a very strong growth potential and achieved industry-leading capital efficiency, with a capital turnover ratio reaching 3.96x in FY25, which is the highest among 3PL peers.
The company's own platform Frodo, SF Shield and SF Maps, harness AI and data analytics to coordinate delivery partners, detect fraud, and increase routing accuracy. This technology-driven business model reduces per-order costs, increases delivery dependability, and allows multiple service lines to be run on one scalable platform.
The firm runs an extensive logistics network with 4,299 touchpoints, 3.5+ Mn sq. ft. of leased area, and the fact that all facilities are leased, not owned. A disruption resulting from non-renewal of a lease, higher rents, political instability, or infrastructure failure can have an impact on the level of services.
The company relies heavily on a crowdsourced network of ~206,000 delivery partners with no exclusivity. If delivery personnel leave in large numbers- if competitors lure them away, if labour laws are changed, or if delivery partners protest, then delivery capacity and service quality are bound to be affected negatively. Moreover, partner expenses are very high as they amounted to ₹1,350.26 crore in FY25 alone, which implies that the firm may have to increase incentives even more to be able to retain riders, thus causing margin pressure.