Shadowfax Technologies' Initial Public Offering (IPO) officially opened for public subscription on Tuesday, January 20, 2026, and is scheduled to close on Thursday, January 22, 2026. The issue is priced in a band of ₹118 to ₹124 per equity share, with a minimum application lot size of 120 shares. The total IPO aims to raise ₹1,907.27 crore, structured as a fresh issue of ₹1,000 crore and an Offer for Sale (OFS) of ₹907.27 crore by existing shareholders. Prior to the public opening, Shadowfax successfully raised ₹856.02 crore from anchor investors on January 19, 2026, including notable participants like ICICI Prudential. The Grey Market Premium (GMP) for Shadowfax shares is currently reported at approximately ₹9, translating to a potential listing premium of about 8.06% over the upper price band of ₹124, indicating moderate investor interest. Shadowfax Technologies is recognized as a technology-led third-party logistics (3PL) provider in India, offering comprehensive logistics solutions across e-commerce, quick commerce, food delivery, and on-demand mobility sectors. The company operates an asset-light model and reported its first net profit of ₹6.06 crore in FY25. Proceeds from the fresh issue are earmarked for expanding and strengthening its delivery network infrastructure, funding lease payments for new centers, and investing in branding and marketing, as well as potential inorganic acquisitions. While some brokerages, like SBI Securities, maintain a "Neutral" view due to a perceived premium valuation compared to peers, they also acknowledge the company's strong revenue growth and efficient business model. The tentative listing date for Shadowfax Technologies on both the BSE and NSE is January 28, 2026. This IPO is significant for the Indian logistics sector and offers an investment opportunity, particularly for long-term investors with a higher risk appetite.