Shadowfax IPO Opens Today: ₹1,907 Crore Issue Sees Neutral Brokerage Ratings

• Shadowfax's ₹1,907 crore IPO opens today, January 20, closing on January 22, with a price band of ₹118-₹124 per share.
• The company raised ₹856.02 crore from anchor investors including ICICI Prudential MF, Nippon India MF, and Morgan Stanley Asia.
• Brokerages like SBI Securities and Swastika Securities assigned 'Neutral' ratings, citing valuation concerns and recommending the IPO for high-risk, long-term investors.
• Key risks include high revenue concentration (Flipkart and Meesho), reliance on crowdsourced delivery partners, and operational challenges with cash-on-delivery orders.
• Proceeds from the fresh issue will fund network expansion, marketing, and potential acquisitions, while existing shareholders will divest shares through an OFS.

Why It Matters: Shadowfax IPO opens with neutral brokerage ratings due to valuation and concentration risks, suitable for long-term investors.