Shadowfax Shares Debut Weakly, List at 9% Discount to IPO Price

• Shadowfax Technologies shares made a weak debut on January 28, listing at a discount to their IPO issue price.
• On BSE, shares opened at ₹113 (8.8% discount to ₹124 issue price); on NSE, they opened at ₹112.60 (9.19% discount).
• The ₹1,907 crore IPO was subscribed 2.86 times, receiving bids for 24.23 crore shares against 8.9 crore offered.
• The IPO, open from January 20-22, included a ₹1,000 crore fresh issue and a ₹907 crore Offer For Sale by existing shareholders.
• Proceeds will fund network expansion, new centers, marketing, acquisitions, and general corporate purposes.

Why It Matters: Shadowfax Technologies shares debuted at a significant discount, indicating a weak market reception for its IPO.