Shadowfax Technologies IPO listing: Shares make weak market debut, list at 9% discount

Shadowfax Technologies Debuts on Stock Market with a Rocky Start

Shadowfax Technologies Ltd shares began trading with a 9% discount on its listing day. Despite a 2.72 times IPO subscription, shares listed at Rs 113 and Rs 112.60 on BSE and NSE respectively. The company aims to use IPO proceeds for expansion, branding, and strategic acquisitions.

India's Shadowfax slips on listing, as client concentration spooks investors

Shadowfax shares fell about 9% on theirdebut, valuing the logistics firm near its last private valuation.

Shadowfax Technologies IPO listing: Shares make weak market debut, list at 9% discount

Shadowfax Technologies IPO listing: Shadowfax Technologies share price made a weak debut on Indian stock market on Wednesday, January 28. The stock listed at 9% discount to the IPO upper price band of ₹124 per share.

Shadowfax shares make weak market debut, list at 9% discount to IPO price

Shadowfax share price: The weak market debut comes despite the IPO of Shadowfax Technologies closing with 1.68 times subscription during its three days of public bidding between January 20 and January 22.

Shadowfax Technologies shares list at 9% discount to IPO price

Shadowfax Technologies shares began trading on Dalal Street at a discount. The company's IPO saw subdued demand, with grey market premiums turning negative. Institutional investors showed more interest than retail and non-institutional investors. Proceeds will fund expansion and operational scaling. The company operates in e-commerce and hyperlocal delivery.

Logistics upstart Shadowfax makes weak IPO debut, ends first day 12% below issue price

India logistics technology startup Shadowfax’s much-anticipated stock market debut turned disappointing, with the shares opening below the IPO price and falling further by the end of the trading session. The tech-driven delivery platform listed its shares at about ₹113, around 9% lower than the ₹124 issue price, and ended its first day of trade at almost ₹109, translating into a loss of about 12% for IPO investors. The muted debut reduced the co…