Shadowfax IPO Day 1: Muted Demand, Modest GMP; Should You Subscribe?

• Shadowfax Technologies launched its IPO to raise Rs 1,907.27 crore, comprising a fresh issue of Rs 1,000 crore and an OFS of Rs 907.27 crore.
• On Day 1, as of 11:00 am, the IPO saw muted demand with an overall subscription of 0.10 times.
• QIBs showed no bids, NIIs subscribed 0.06 times, and RIIs attracted relatively better interest at 0.44 times.
• The price band is Rs 118–124 per share; retail investors can apply for a minimum of 120 shares (Rs 14,880).
• Shadowfax shares are trading at a modest 4% premium (Rs 130) in the grey market, indicating limited listing gains.

Why It Matters: Shadowfax IPO sees low initial subscription and modest GMP, appealing to long-term investors in logistics.