Shadowfax Tech IPO Day 2: 63% Subscribed, GMP Falls; Should You Apply?

• Shadowfax Technologies IPO received 0.63x subscription on Day 2, with retail investors subscribing 1.75x.
• The IPO price band is Rs 118 to Rs 124 per share, aiming to raise Rs 1,907 crore.
• Grey Market Premium (GMP) for Shadowfax shares fell to Rs 128 (3.23% premium) from an earlier 4.84%, indicating subdued listing.
• Analysts suggest the IPO is suitable for high-risk investors with a long-term horizon due to valuation and customer concentration risks.
• Proceeds from the fresh issue will fund network expansion, lease payments, branding, and potential inorganic acquisitions.

Why It Matters: Shadowfax IPO sees moderate subscription and falling GMP, making it suitable for high-risk, long-term investors.