Shadowfax Technologies IPO allotment: Check application status, latest GMP & listing date

Shadowfax Technologies is likely to finalize the basis of allotment of its shares on Friday, January 23. Applicant bidders will get the messages, alerts or emails for debit of their funds or revocations of their IPO mandate latest by Tuesday, January 27. The logistics and delivery solutions player saw a muted response from the investors during the three-day bidding.

The IPO of Shadowfax Technologies was open for bidding between January 20 and January 22. It had offered its shares in the price band of Rs 118-124 per share with a lot size of 120 shares. The company raised a total of Rs 1,907 crore via IPO, which included a fresh shares sale of Rs 1,000 crore and offer-for-sale (OFS) up to 7.31 crore shares worth Rs 907 crore.

The issue was overall subscribed only 2.72 times, attracting bids for over Rs 3,000 crore through more than 2.25 lakh applications. The portion for qualified-institutional bidders (QIBs) was subscribed 3.81 times, while the portion for retail bidders was booked 2.31 times during the bidding process. The allocation for non-institutional investors (NIIs) was under subscribed at 84 per cent only.

The grey market premium (GMP) of Shadowfax Technologies has seen a sharp correction on the back of muted bidding and fragile market sentiments. Last heard, it was commanding a no premium in the unofficial market, suggesting a weak listing pop for the investors. The GMP stood around Rs 4-6 on the first day of the bidding.

Incorporated in 2016, Bengaluru-based Shadowfax Technologies is a logistics solution provider company in India. It offers e-commerce express parcel delivery and a suite of value-added offerings. Its service offerings include e-commerce and D2C delivery, hyperlocal & quick commerce within hours or same day, and SMS & personal courier services through its flash app.

ICICI Securities, Morgan Stanley India Company and JM Financial are the book running lead managers for the IPO of Shadowfax Technologies and Kfin Technologies is the registrar of the issue. Refund initiations and credit of shares is likely to be done by Tuesday, January 27. Shares of the company shall be listed on both BSE and NSE on Wednesday, January 28.

Investors, who had bid for the issue of Shadowfax Technologies, can check the allotment status on the Bombay Stock Exchange (BSE) website:

1. Visit https://www.bseindia.com/investors/appli_check.aspx
2. Under the issue type, click Equity
3. Under the issue name, select Shadowfax Technologies Limited in the dropbox
4. Write the application number
5. Add the PAN card ID
6. Click on 'I am not a Robot' and hit search button

Investors can also check the allotment status on the online portal of KFin Technologies Limited (https://kosmic.kfintech.com/ipostatus), the registrar to the issue.

The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications and carries out the allotment process, as per the prospectus. The registrar is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching and uploading refunds, and attending to all investor-related queries.

1. Go to the web portal of KFin Technologies Limited
2. Select the IPO in dropbox whose name will be populated only if the allotment is finalized
3. You may be required to select either one of the three modes: Application number, Demat Account number, or PAN ID
4. In application type, select between ASBA and non-ASBA
5. Enter the details of the mode you selected in Step 2
6. For security purposes, fill the captcha accurately
7. Hit submit.