Shadowfax Technologies IPO: GMP signals positive listing outlook after price band announcement
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Early buzz in the grey market suggests optimism around Shadowfax Technologies’ upcoming IPO, with the unlisted premium currently hovering around 13% ahead of the issue opening on January 20. This indicates that the market is pricing in a positive listing for the logistics services provider, even as investors remain mindful of valuation comfort and execution risks in a highly competitive sector. Currently, Shadowfax shares are trading about Rs 16 above the upper end of the price band of Rs 124 in the grey market. This suggests an expected listing price of around Rs 140 per share, implying a potential upside of roughly 13% over the issue price. Shadowfax IPO details Shadowfax’s Rs 1,907 crore IPO comprises a fresh issue of shares worth Rs 1,000 crore and an offer for sale of Rs 907 crore by existing shareholders. The issue will be listed on both the BSE and NSE, with allotment expected on January 23 and listing scheduled for January. At the...