Shadowfax IPO GMP Jumps to 8% as Flipkart-Backed Firm Announces Price Band

• Shadowfax, a logistics services provider backed by Flipkart, has seen its IPO Grey Market Premium (GMP) rise to 8%.
• The company has set the IPO price band at Rs 118 to Rs 124 per share, valuing it at over Rs 7,100 crore.
• The Rs 1,907-crore IPO includes a fresh issue of Rs 1,000 crore and an Offer for Sale (OFS) of Rs 907.27 crore.
• The public subscription window for the IPO is from January 20 to January 22, with anchor investors opening on January 19.
• Proceeds will fund network expansion, new centers, branding, marketing, and potential acquisitions; shares are expected to list on January 28.

Why It Matters: Shadowfax IPO's GMP increased to 8% after setting its price band, with public subscription opening soon.