Shadowfax Tech IPO: Day 2 Subscription at 57%, Grey Market Premium Dips to ₹4

• Shadowfax Technologies Ltd's ₹1,907 crore IPO is 57% subscribed by 12:30 PM on Day 2 (January 21).
• Bids received for 4.81 crore shares against 8.48 crore offered, up from 47% on Day 1.
• The IPO price band is set at ₹118 to ₹124 per share, closing on January 22.
• Grey Market Premium (GMP) for Shadowfax shares is ₹4, trading at ₹128, a decline from previous 4-5%.
• Experts suggest applying for long-term investors due to high valuation and reliance on Flipkart and Meesho.

Why It Matters: Shadowfax Tech IPO sees moderate subscription and declining grey market premium, indicating modest listing gains.