Shadowfax IPO Opens Tomorrow: Check GMP and Listing Gain Expectations

• Shadowfax Technologies' mainboard IPO opens tomorrow, January 20, with subscriptions available until January 22.
• The IPO price band is set between ₹118 to ₹124 per share.
• Grey Market Premium (GMP) for Shadowfax IPO is ₹16, indicating a potential listing gain of about 13 percent.
• Shadowfax, founded in Bengaluru in 2015, is a leading logistics and on-demand delivery platform, serving clients like Swiggy, Zomato, Flipkart, and Myntra.
• The company reported a revenue of ₹2,514.66 crore and a profit of ₹6.43 crore in 2025, a significant turnaround from a loss in 2024.

Why It Matters: Shadowfax IPO opens tomorrow with a promising GMP, offering potential 13% listing gains for investors.