| Event | Date |
|---|---|
| Open Date | 20-01-2026 , Tuesday |
| Close Date | 22-01-2026 , Thursday |
| Tentative Allotment | 23-01-2026 , Friday |
| Tentative Listing Date | 28-01-2026 , Wednesday |
| Retail Appl. Cut Off Time | 22-01-2026 , Thursday 05:00 PM |
| Non Retail Appl. Cut Off Time | 22-01-2026 , Thursday 12:00 AM |
| Anchor Allotment | 19-01-2026 , Monday |
| Initiation Of Refund | 27-01-2026 , Tuesday |
| Credit Of Share To Demat | 27-01-2026 , Tuesday |
Shadowfax Technologies Limited is a new-age, technology-led third-party logistics company serving India’s digital commerce ecosystem through express logistics, hyperlocal delivery, reverse logistics, quick commerce delivery, mobility support and other logistics services.
Shadowfax Technologies Limited operates as a third-party logistics platform for enterprise clients across e-commerce, quick commerce, food marketplace, on-demand mobility and other digital-first businesses. Its service network covered 14,758 Indian pin codes as of September 30, 2025.
The company supports express parcel deliveries, reverse pickups, hand-in-hand exchange deliveries, prime deliveries, quick commerce and on-demand hyperlocal deliveries, mobility solutions and critical logistics. In simple words, Shadowfax works as a logistics backbone for digital commerce businesses where speed, reach, return handling and service reliability are important.
Express logistics includes forward parcel delivery, reverse pickup, hand-in-hand exchange and prime delivery services. These services are mainly used by e-commerce platforms and D2C brands for customer deliveries and returns.
Hyperlocal services include quick commerce deliveries, food and on-demand delivery, and mobility-related solutions. This segment is linked with fast delivery and hourly demand fluctuations.
Other logistics services include critical logistics, strategic sourcing of unbundled services and dark store operations. These services support complex and time-sensitive logistics requirements.
Shadowfax’s business model is built around connecting enterprise clients, delivery partners, fulfilment points, sellers and end-customers through a technology-enabled logistics network. The company focuses on three major levers: velocity, versatility and value.
Velocity means speed of delivery. In e-commerce, same-day and next-day deliveries are becoming important. In quick commerce, customers expect even faster delivery. Shadowfax aims to reduce the time between order placement and doorstep delivery.
Versatility means the ability to handle multiple logistics use cases such as reverse pickup, exchange, open-box delivery, doorstep quality checks, quick commerce surge demand and critical logistics.
Value means cost efficiency. Delivery cost is a major cost for online retail companies. Shadowfax uses scale, route optimization, delivery partner density and technology-led operations to improve logistics efficiency.
Shadowfax has shown strong growth in both order volumes and revenue. Total orders increased from 259.11 million in FY 2023 to 436.36 million in FY 2025. For the six months ended September 30, 2025, the company processed 294.45 million orders, compared with 196.15 million orders in the six months ended September 30, 2024.
Revenue from operations increased from Rs. 14,151.24 million in FY 2023 to Rs. 18,848.22 million in FY 2024 and further to Rs. 24,851.31 million in FY 2025. For the six months ended September 30, 2025, revenue from operations stood at Rs. 18,056.44 million.
| Particulars | 6M Sep 2025 | 6M Sep 2024 | FY 2025 | FY 2024 | FY 2023 |
|---|---|---|---|---|---|
| Express Orders | 228.41 million | 159.95 million | 341.56 million | 302.48 million | 209.69 million |
| Hyperlocal Orders | 66.03 million | 36.19 million | 94.79 million | 47.84 million | 49.42 million |
| Total Orders | 294.45 million | 196.15 million | 436.36 million | 350.32 million | 259.11 million |
| Period-on-Period Growth Orders | 50.11% | NA | 24.56% | 35.20% | 72.04% |
| Pin Code Reach | 14,758 | 15,146 | 14,387 | 13,169 | 7,955 |
| Touchpoints | 4,299 | 3,736 | 3,964 | 3,093 | 1,817 |
| Average Quarterly Unique Transacting Delivery Partners | 205,864 | 124,132 | 151,385 | 101,761 | 140,468 |
Shadowfax derives revenue mainly from express logistics, hyperlocal logistics and other logistics services. Express revenue is currently the largest revenue contributor, while hyperlocal revenue has shown strong growth.
| Particulars | 6M Sep 2025 | 6M Sep 2024 | FY 2025 | FY 2024 | FY 2023 |
|---|---|---|---|---|---|
| Express Revenue | Rs. 12,387.31 million | Rs. 7,872.98 million | Rs. 17,160.86 million | Rs. 14,945.90 million | Rs. 10,353.53 million |
| Hyperlocal Revenue | Rs. 3,593.47 million | Rs. 1,968.36 million | Rs. 5,132.42 million | Rs. 2,538.95 million | Rs. 2,551.85 million |
| Other Logistics Services Revenue | Rs. 2,075.66 million | Rs. 879.35 million | Rs. 2,558.03 million | Rs. 1,363.37 million | Rs. 1,245.86 million |
| Revenue from Operations | Rs. 18,056.44 million | Rs. 10,720.69 million | Rs. 24,851.31 million | Rs. 18,848.22 million | Rs. 14,151.24 million |
Shadowfax reported a profit of Rs. 64.26 million in FY 2025, compared with a loss of Rs. 118.82 million in FY 2024 and a loss of Rs. 1,426.38 million in FY 2023. For the six months ended September 30, 2025, the company reported profit of Rs. 210.37 million.
Adjusted EBITDA also improved from negative Rs. 1,016.47 million in FY 2023 to Rs. 192.93 million in FY 2024 and Rs. 486.69 million in FY 2025. For the six months ended September 30, 2025, adjusted EBITDA stood at Rs. 515.64 million with an adjusted EBITDA margin of 2.86%.
| Particulars | 6M Sep 2025 | 6M Sep 2024 | FY 2025 | FY 2024 | FY 2023 |
|---|---|---|---|---|---|
| Revenue from Operations | Rs. 18,056.44 million | Rs. 10,720.69 million | Rs. 24,851.31 million | Rs. 18,848.22 million | Rs. 14,151.24 million |
| Period-on-Period Revenue Growth | 68.43% | NA | 31.85% | 33.19% | 42.84% |
| Profit / Loss for the Period / Year | Rs. 210.37 million | Rs. 98.36 million | Rs. 64.26 million | Rs. (118.82) million | Rs. (1,426.38) million |
| Adjusted EBITDA | Rs. 515.64 million | Rs. 256.68 million | Rs. 486.69 million | Rs. 192.93 million | Rs. (1,016.47) million |
| Adjusted EBITDA Margin | 2.86% | 2.39% | 1.96% | 1.02% | (7.18%) |
Shadowfax serves major digital commerce clients including e-commerce platforms, quick commerce platforms, food delivery players, D2C brands and service marketplaces. The company mentioned clients such as Meesho, Flipkart, Myntra, Swiggy, Bigbasket, Zepto, Nykaa, Blinkit, Karthocket, Zomato, Uber, Pincode, Purple and Licious, among others.
The company states that it expanded its e-commerce shipment market share from approximately 8% in FY 2022 to approximately 23% in the six months ended September 30, 2025. It is also stated to be a market leader in reverse pickup shipments, 3PL quick commerce solutions and same-day delivery based on order volume for FY 2025 and the six months ended September 30, 2025.
Shadowfax’s network covers first-mile pickup, middle-mile sorting and transportation, and last-mile delivery. The forward journey typically includes pickup from client warehouse or seller location, movement to an origin sort center, transportation to destination sort center, movement to last-mile center and final delivery to the end customer.
The reverse journey includes customer pickup, return movement through hubs or sort centers, and return to the seller or client warehouse. This reverse supply chain is important in e-commerce because return and exchange handling directly affects customer experience.
One e-commerce customer focused on tier 1 and tier 2 markets required a logistics partner capable of going beyond basic express delivery. Shadowfax partnered with the client from FY 2019 and managed both forward and reverse shipments at scale.
It developed solutions such as pickup-point quality checks, reverse processing centers, exchange-on-doorstep services and prime delivery services.
A quick commerce platform needed reliable delivery partner availability during hourly demand fluctuations. Shadowfax deployed a technology-led three-way marketplace between the platform, EV OEMs and its gig delivery partner network.
This helped non-vehicle owners rent EVs and supported dynamic fleet orchestration during peak demand.
Apollo Pharmacy required one-hour hyperlocal medicine delivery using offline outlets as fulfilment hubs. Shadowfax helped co-create a hyperlocal fulfilment model with real-time order transmission, logistics tracking and address accuracy support.
This supported faster dispatch, better tracking and improved reliability for time-sensitive healthcare deliveries.
Shadowfax covered 14,758 pin codes as of September 30, 2025. Wide reach is important because clients prefer logistics partners that can serve large markets with consistent service quality.
The company is positioned in high-growth digital commerce segments where fast and reliable logistics is essential.
Reverse pickup and exchange logistics are complex but valuable. Shadowfax’s strength in this area may help it deepen client relationships.
The company uses technology for routing, fleet orchestration, tracking, delivery partner management and quality checks.
The gig-based delivery partner model gives flexibility to handle demand fluctuations, especially in quick commerce and hyperlocal delivery.
Shadowfax has moved from losses in FY 2023 and FY 2024 to profit in FY 2025, while adjusted EBITDA margin has also improved.
Shadowfax Technologies Limited operates in a fast-growing logistics segment linked to India’s digital commerce expansion. The company supports multiple delivery use cases such as forward delivery, reverse pickup, exchange delivery, quick commerce delivery, food and on-demand delivery, mobility support and critical logistics.
From a retail investor’s perspective, Shadowfax should be understood as a scale-driven logistics platform. Its growth depends on shipment volume, client relationships, delivery partner availability, technology efficiency and operating cost control.
The company has shown strong order growth and revenue growth. Total orders increased from 259.11 million in FY 2023 to 436.36 million in FY 2025. Revenue from operations increased from Rs. 14,151.24 million in FY 2023 to Rs. 24,851.31 million in FY 2025.
Profitability has also improved. The company turned profitable in FY 2025 and adjusted EBITDA margin improved from negative 7.18% in FY 2023 to 1.96% in FY 2025 and 2.86% for the six months ended September 30, 2025.
Shadowfax has shown strong growth in both orders and revenue. The 50.11% order growth for the six months ended September 30, 2025 is notable. However, investors should check whether this growth can continue after the IPO, especially if quick commerce and e-commerce clients negotiate pricing aggressively.
Express revenue stood at Rs. 17,160.86 million in FY 2025 and Rs. 12,387.31 million for the six months ended September 30, 2025. This means the company’s performance is strongly linked to e-commerce shipment volume.
Hyperlocal revenue increased from Rs. 2,538.95 million in FY 2024 to Rs. 5,132.42 million in FY 2025. This segment is important because quick commerce is expanding rapidly in India, but it also requires strong operational control.
Shadowfax has improved from losses to profit and adjusted EBITDA margin has turned positive. However, margins remain low. Even small changes in delivery cost, pricing, incentives or operating expenses can impact profitability.
Reverse pickup and exchange delivery are complex services. If Shadowfax continues to execute these services well, it can become an important partner for e-commerce companies that want to improve customer experience.
The company had 205,864 average quarterly unique transacting delivery partners for the six months ended September 30, 2025. This is a major operational strength, but delivery partner availability, retention, incentives and compliance remain important factors to monitor.
Shadowfax serves large digital commerce clients. Large clients provide scale, but they may also have bargaining power. Investors should review revenue dependence on top clients, contract terms, pricing model and renewal risk from the RHP.
The Indian logistics space is competitive. Shadowfax competes with other 3PL players, captive logistics networks of e-commerce companies, regional logistics companies and hyperlocal delivery platforms. Pricing discipline and execution quality are very important.
Shadowfax is a high-growth logistics platform linked to India’s digital commerce and quick commerce expansion. The company has scale, wide network reach, improving profitability and service versatility. However, retail investors should closely evaluate valuation, client concentration, margin sustainability, cash flow quality, delivery partner costs and competition before forming any view.
| Area | What to Check |
|---|---|
| Order Growth | Whether order growth continues after IPO |
| Revenue Growth | Whether revenue growth matches order growth |
| Margins | Whether adjusted EBITDA margin keeps improving |
| Client Dependence | Revenue share from top clients and renewal risk |
| Hyperlocal Growth | Whether quick commerce demand remains strong |
| Reverse Logistics | Whether leadership in reverse pickup and exchange continues |
| Delivery Partner Network | Availability, retention and cost of gig partners |
| Cash Flow | Whether growth converts into cash generation |
| Competition | Pricing pressure from other 3PL and captive networks |
| Valuation | Whether IPO valuation is reasonable compared with growth and profitability |
| Short Form | Full Form | Meaning |
|---|---|---|
| 3PL | Third-Party Logistics | Outsourced logistics service provider |
| B2C | Business-to-Consumer | Business selling directly to consumers |
| D2C | Direct-to-Consumer | Brands selling directly to customers without traditional intermediaries |
| QC | Quality Check | Verification of product condition or correctness |
| SLA | Service Level Agreement | Agreed service standard between company and client |
| CAGR | Compound Annual Growth Rate | Annualized growth rate over a period |
| EBITDA | Earnings Before Interest, Tax, Depreciation and Amortization | Operating profitability indicator |
| API | Application Programming Interface | Software connection between two systems |
| EV | Electric Vehicle | Vehicle powered by electricity |
| SME | Small and Medium Enterprise | Smaller business enterprise |
This content is prepared only for educational and informational purposes based on the details available from the company’s Red Herring Prospectus and related IPO material. IPORupee does not provide any buy, sell, subscribe, avoid or apply recommendation.
IPO investments are subject to market risks, business risks, valuation risks and company-specific risks. Investors should read the complete Red Herring Prospectus, including risk factors, financial statements, objects of the issue, legal proceedings, management discussion and other disclosures before making any investment decision.
The business overview, IPORupee Overview and IPORupee Insight are meant to simplify the company’s business model for retail investors. They should not be treated as investment advice, research recommendation or assurance of listing gains. Investors should consult their financial advisor before investing.
| Category | Percentage | No. of Shares Offered | Amount |
|---|---|---|---|
QIB | 75.00 % | 11,50,56,593 | 1,426.70 Cr |
Retail | 10.00 % | 1,53,40,878 | 190.23 Cr |
Total HNI | 15.00 % | 2,30,11,319 | 285.34 Cr |
SHNI | 5.00 % | 76,70,440 | 95.11 Cr |
BHNI | 10.00 % | 1,53,40,879 | 190.23 Cr |
Employee | 0.00 % | 4,03,225 | 5.00 Cr |
Shadowfax Technologies Ltd allotted 6,90,33,955 equity shares to anchor investors at ₹124 per share on 19 Jan 2026 before the IPO opening. The total anchor allocation stood at 856.02 Cr across 39 anchor investors.
Mutual funds received 3,67,52,805 shares worth 455.73 Cr, representing 53.24% of the total anchor investor allocation. Within the mutual fund portion, ICICI Prudential Mutual Fund had the highest fund-house level allocation with 1,53,22,680 shares worth 190.00 Cr across 4 schemes. Other leading fund houses by allocation included Nippon India Mutual Fund, Motilal Oswal Mutual Fund, Bandhan Mutual Fund and HSBC Mutual Fund.
At scheme level, the largest mutual fund allocations included NIPPON LIFE INDIA TRUSTEE LTD-A/C NIPPON INDIA SMALL CAP FUND, ICICI PRUDENTIAL FLEXICAP FUND, ICICI PRUDENTIAL BALANCED ADVANTAGE FUND, MOTILAL OSWAL LARGE CAP FUND and ICICI PRUDENTIAL TRANSPORTATION AND LOGISTICS FUND.
The largest anchor investor received 14.02% of the anchor portion. The top five anchor investors together received 2,97,70,320 shares, representing about 43.12% of the total anchor allocation.
| Rank | Anchor Investor Name | Shares Allocated | Allocation % | Allocation Amount |
|---|---|---|---|---|
| 1 | NIPPON LIFE INDIA TRUSTEE LTD-A/C NIPPON INDIA SMALL CAP FUND | 96,77,520 | 14.02 % | 120.00 Cr |
| 2 | ICICI PRUDENTIAL FLEXICAP FUND | 78,44,400 | 11.36 % | 97.27 Cr |
| 3 | ICICI PRUDENTIAL BALANCED ADVANTAGE FUND | 41,83,680 | 6.06 % | 51.88 Cr |
| 4 | GOVERNMENT PENSION FUND GLOBAL | 40,32,360 | 5.84 % | 50.00 Cr |
| 5 | ICICI PRUDENTIAL LIFE INSURANCE COMPANY LIMITED | 40,32,360 | 5.84 % | 50.00 Cr |
| Rank | Mutual Fund Scheme | AMC | Shares Allocated | Allocation % | Allocation Amount |
|---|---|---|---|---|---|
| 1 | NIPPON LIFE INDIA TRUSTEE LTD-A/C NIPPON INDIA SMALL CAP FUND | Nippon India Mutual Fund | 96,77,520 | 14.02 % | 120.00 Cr |
| 2 | ICICI PRUDENTIAL FLEXICAP FUND | ICICI Prudential Mutual Fund | 78,44,400 | 11.36 % | 97.27 Cr |
| 3 | ICICI PRUDENTIAL BALANCED ADVANTAGE FUND | ICICI Prudential Mutual Fund | 41,83,680 | 6.06 % | 51.88 Cr |
| 4 | MOTILAL OSWAL LARGE CAP FUND | Motilal Oswal Mutual Fund | 26,61,360 | 3.86 % | 33.00 Cr |
| 5 | ICICI PRUDENTIAL TRANSPORTATION AND LOGISTICS FUND | ICICI Prudential Mutual Fund | 20,91,840 | 3.03 % | 25.94 Cr |
The figures are based on the company’s stock exchange anchor allotment intimation. Anchor allocation is only an informational disclosure and does not indicate future listing performance.
| Application | Discount | Qty (Lot) | Total |
|---|---|---|---|
Retail MIN | - | 120 (1) | ₹ 14,880 |
Retail MAX | - | 1560 (13) | ₹ 1,93,440 |
SHNI MIN | - | 1680 (14) | ₹ 2,08,320 |
SHNI MAX | - | 8040 (67) | ₹ 9,96,960 |
BHNI MIN | - | 8160 (68) | ₹ 10,11,840 |
Employee MIN | - | 120 (1) | ₹ 14,880 |
Employee MAX | - | 3960 (33) | ₹ 4,91,040 |
| Objective | No Of Shares | Amount |
|---|---|---|
Fresh Issue | - | 1,000.00 Cr |
Offer for Sale | - | 907.27 Cr |
| Name | Contact Person | Telephone | Website | |
|---|---|---|---|---|
ICICI Securities Limited | Namrata Ravasia/Tanya Tiwari | + 91 22 6807 7100 | shadowfax.ipo@icicisecurities.com | www.icicisecurities.com |
Morgan Stanley India Company Private Limited | Keyur Thakar | +91 22 6118 1000 | shadowfax_ipo@morganstanley.com | www.morganstanley.com/india |
JM Financial Limited | Prachee Dhuri | +91 22 6630 3030 | shadowfax.ipo@jmfl.com | www.jmfl.com |
Understand company details, IPO size, price band, lot size, exchange listing, fresh issue and Offer for Sale (OFS) in simple language for retail investors.
This IPO is of Shadowfax Technologies Ltd. The issue is scheduled to open on Tuesday, 20 January 2026 and closes on Thursday, 22 January 2026.
After the IPO process is completed, the shares are proposed to be listed on both NSE and BSE.
IPO size means the total amount offered to investors through the public issue.
For Shadowfax Technologies Ltd IPO, the total issue size is Rs 1,907.27 crore, consisting of a fresh issue of Rs 1,000 crore and an Offer for Sale (OFS) of Rs 907.27 crore.
Price band is the price range within which investors can bid for shares in a book-built IPO.
For this IPO, the lower price band is Rs 118 per share and the upper price band is Rs 124 per share.
Lot size is the minimum number of shares an investor must apply for in an IPO. IPO applications are usually made in fixed lot multiples.
For Shadowfax Technologies Ltd IPO, the minimum lot size is 120 shares. At the upper price band of Rs 124 per share, the minimum application amount is Rs 14,880. Applications must be made in multiples of 120 shares.
Fresh Issue means the company issues new shares to investors and receives money from that part of the IPO.
For Shadowfax Technologies Ltd IPO, the Fresh Issue size is Rs 1,000 crore. The company can use these funds for purposes mentioned in the IPO documents, such as business growth, repayment of borrowings, working capital, capital expenditure, or general corporate purposes.
Offer for Sale (OFS) means existing shareholders sell their shares to the public through the IPO.
For Shadowfax Technologies Ltd IPO, the Offer for Sale (OFS) size is Rs 907.27 crore. In an OFS, the selling shareholders receive the money, and the company usually does not receive funds from that portion.
Understand the important IPO dates, allotment process, refund schedule and listing timeline in a retail-friendly format.
The IPO opening date is the first day on which investors can apply for the public issue.
For Shadowfax Technologies Ltd IPO, the IPO opens on Tuesday, 20 January 2026.
The IPO closing date is the last day on which investors can submit, modify, or cancel their IPO applications.
Shadowfax Technologies Ltd IPO closes on Thursday, 22 January 2026.
The tentative allotment date is the expected date on which the registrar finalizes the share allotment for valid IPO applications.
For Shadowfax Technologies Ltd IPO, the tentative allotment date is Friday, 23 January 2026.
The tentative listing date is the expected date on which IPO shares begin trading on the stock exchanges.
Shadowfax Technologies Ltd IPO is expected to list on Wednesday, 28 January 2026.
After allotment, funds are unblocked or refunds are initiated for non-allotted investors, while allotted shares are credited to investors' demat accounts before listing.
For Shadowfax Technologies Ltd IPO, refund initiation is expected on Tuesday, 27 January 2026, and credit of shares to demat accounts is expected on Tuesday, 27 January 2026.
Understand IPO category-wise reservation, QIB quota, retail quota, HNI allocation, shareholder reservation and the meaning of structure columns in a simple format.
IPO structure shows how shares are divided among different categories of investors, such as QIB, Retail, NII/HNI, Employees, and Shareholders.
For Shadowfax Technologies Ltd IPO, the available categories in the structure table include QIB, Retail, Non-Institutional Investors (NII/HNI), Employees. The NII/HNI category includes SHNI and BHNI sub-categories. Investors can use this table to understand category-wise allocation before applying.
QIB stands for Qualified Institutional Buyers. This category includes mutual funds, banks, insurance companies, and other large financial institutions.
In Shadowfax Technologies Ltd IPO, 75% shares are reserved under the QIB category, with 11,50,56,593 shares offered, and an allocation amount of ₹1,426.70 crore.
The Retail category is reserved for individual investors and HUFs applying for up to Rs 2 lakh within the retail investment limit allowed under IPO rules.
In Shadowfax Technologies Ltd IPO, 10% shares are reserved under the Retail category, with 1,53,40,878 shares offered, and an allocation amount of ₹190.23 crore.
NII/HNI stands for Non-Institutional Investors / High Net-Worth Individuals. This category generally includes investors applying for more than Rs 2 lakh, above the retail investment limit.
In Shadowfax Technologies Ltd IPO, 15% shares are reserved under the NII/HNI category, with 2,30,11,319 shares offered, and an allocation amount of ₹285.34 crore.
SHNI stands for Small HNI. It is a sub-category within the NII/HNI category and generally refers to applications for more than Rs 2 lakh but not exceeding Rs 10 lakh.
In Shadowfax Technologies Ltd IPO, 5% shares are reserved under the SHNI sub-category, with 76,70,440 shares offered, and an allocation amount of ₹95.11 crore.
BHNI stands for Big HNI. It is a sub-category within the NII/HNI category and generally refers to applications for more than Rs 10 lakh.
In Shadowfax Technologies Ltd IPO, 10% shares are reserved under the BHNI sub-category, with 1,53,40,879 shares offered, and an allocation amount of ₹190.23 crore.
Employee reservation is a special quota reserved for eligible company employees, if applicable.
In Shadowfax Technologies Ltd IPO, 4,03,225 shares are offered under the Employee Reservation category, and an allocation amount of ₹5.00 crore.
Understand retail lot size, HNI application limits, employee category, shareholder category and investment amount calculations using the IPO lot table.
Lot size is the minimum number of shares an investor must apply for in an IPO. IPO applications are usually made in fixed lot multiples.
For Shadowfax Technologies Ltd IPO, the minimum lot size is 120 shares. At the upper price band of Rs 124 per share, the minimum application amount is Rs 14,880. Applications must be made in multiples of 120 shares.
Retail minimum application shows the minimum application size for retail investors.
For Shadowfax Technologies Ltd IPO, the Retail minimum application is 120 shares (1 lot) for about Rs 14,880.
Retail maximum application shows the maximum application size generally available under the retail category.
For Shadowfax Technologies Ltd IPO, the Retail maximum application is 1,560 shares (13 lots) for about Rs 1,93,440.
SHNI minimum application shows the minimum application size for the Small HNI category.
For Shadowfax Technologies Ltd IPO, the SHNI minimum application is 1,680 shares (14 lots) for about Rs 2,08,320.
SHNI maximum application shows the maximum application size available under the Small HNI category, when provided.
For Shadowfax Technologies Ltd IPO, the SHNI maximum application is 8,040 shares (67 lots) for about Rs 9,96,960.
BHNI minimum application shows the minimum application size for the Big HNI category.
For Shadowfax Technologies Ltd IPO, the BHNI minimum application is 8,160 shares (68 lots) for about Rs 10,11,840.
Employee minimum application shows the minimum application size under the employee category, if this category is available in the IPO.
For Shadowfax Technologies Ltd IPO, the Employee minimum application is 120 shares (1 lot) for about Rs 14,880.
Employee maximum application shows the maximum application size under the employee category, if provided in the lot size table.
For Shadowfax Technologies Ltd IPO, the Employee maximum application is 3,960 shares (33 lots) for about Rs 4,91,040.
Understand important financial figures in simple language using the financial statement data available for the IPO.
Financial Highlights show important numbers from the company's financial statements. These may include income, expenses, profit, assets, liabilities, cash flow and other financial information, depending on the data available for the IPO.
The table displays available financial data based on the IPO information currently available. Fields may differ from company to company depending on disclosures and reporting format.
Investors should read the table to understand the company's financial performance and financial position over different periods.
The table may help users review income, expenses, profitability, balance sheet position, cash movement or other financial information, depending on the available data.
Financial statement line items may differ because companies operate in different industries and may follow different reporting formats.
Some companies may provide detailed financial breakup, while others may present broader financial categories.
Investors should review income, expenses, profitability, debt position, asset base, liabilities and cash flow position together.
A single financial figure should not be used alone to judge the company.
Profit is important, but it does not show the full financial picture.
Investors should also review revenue quality, expenses, debt, assets, liabilities, cash flow, valuation and business risks.
Cash flow helps investors understand how money moves in and out of the business.
A company may report profit but still face cash flow pressure, so cash flow should be reviewed along with profit, debt and balance sheet information.
No. Financial Highlights are useful, but investors should also review valuation, peer comparison, KPI data, business risks, IPO pricing, management discussion and official offer documents such as the RHP or DRHP.
Understand how the company may be compared with similar businesses using the peer comparison data available for the IPO.
Peer Comparison means comparing the IPO company with businesses operating in a similar sector or industry.
It helps investors understand the company in a broader industry context.
Peer Comparison helps investors understand how the company can be compared with similar businesses using available financial or valuation metrics.
It is useful for context, but it should not be treated as a final investment conclusion.
Peer comparison metrics may differ depending on the companies selected, accounting format, business model and available public information.
Investors should compare only relevant and similar metrics.
Investors should use the peer comparison table as a reference point.
Available metrics should be read together with business model, scale, profitability, margins, debt, growth, valuation and IPO pricing.
No. Peer Comparison does not directly decide whether an IPO is good or bad.
It only provides context for comparison. Final analysis should include financial statements, KPI data, valuation, risk factors and official offer documents.
No. Peer Comparison is only one part of IPO analysis.
Investors should also review financial statements, KPI data, business risks, valuation, IPO pricing and company fundamentals.
Understand important KPI metrics in simple language using the key performance indicator data available for the IPO.
Key Performance Indicators, or KPIs, are financial and valuation metrics used to understand profitability, efficiency, leverage, return-based ratios and earnings performance.
They help investors understand the company beyond basic financial figures.
KPIs help investors assess profitability, capital efficiency, leverage, valuation and earnings quality.
They should be reviewed together with financial statements, peer comparison and IPO pricing.
KPI data may differ depending on the company, industry, financial disclosures and available offer document information.
Not every IPO may provide every KPI, and some metrics may not be applicable to every business.
Investors should read KPI metrics together instead of relying on one ratio.
A single KPI may not give the full picture unless it is reviewed with financial statements, peer comparison, business model and valuation.
No. High or low KPI values need context.
The meaning of a ratio may differ depending on industry, business model, debt level, growth stage, profitability and IPO valuation.
No. KPI data is useful, but it should not be used alone.
Investors should also review financial statements, peer comparison, business risks, valuation, IPO pricing and official offer documents such as the RHP or DRHP.