Shadowfax IPO GMP Jumps Over 12% Ahead of Next Week's Issue Opening

• Shadowfax's Initial Public Offering (IPO) grey market premium (GMP) has increased to over 12% before its opening next week.
• The logistics services provider has set a price band of Rs 118 to Rs 124 per share, valuing the company at over Rs 7,100 crore.
• The Rs 1,907-crore public issue will be open for subscription from January 20 to January 22, with anchor bidding on January 19.
• Proceeds will fund network expansion, lease payments for new centers, branding, marketing, and potential acquisitions.
• Shadowfax, backed by investors like Flipkart, operates across 14,758 pin codes in India, serving e-commerce and food marketplaces.

Why It Matters: Shadowfax IPO sees strong grey market demand with over 12% GMP ahead of its January 20 opening.