The primary market is set for a relatively quiet week ahead with no mainboard public offerings opening for subscription. However, investor activity will continue on SME platforms, where five IPOs are scheduled to open next week, alongside three listings across mainboard and SME segments.

Shadowfax Technologies Market Debut

Shadowfax Technologies will be the only mainboard listing among the three companies scheduled to list during the week. The e-commerce and hyperlocal logistics company is set to make its stock market debut on January 28, listing on both NSE and BSE.

The issue attracted strong interest from qualified institutional buyers, while demand from non-institutional investors remained relatively softer. Given the zero grey market premium, market participants are expecting a flat to modest debut, with performance likely driven by broader market cues rather than listing-day enthusiasm.

SME Platform Activity

Five IPOs will open for subscription across NSE SME and BSE SME platforms, providing opportunities for investors in the small and medium enterprise segment.

January 28-30 Openings

Three companies will simultaneously launch their issues on Wednesday, January 28, with all closing on Friday, January 30:

Extended Timeline Issue

CKK Retail Mart will be the final SME issue of the week, with a different timeline:

Market Outlook

With secondary markets remaining range-bound and investors focused on earnings and global cues, primary market activity is expected to stay measured in the near term. Listing performance is likely to vary sharply across sectors and company profiles, reflecting the current cautious market sentiment and selective investor approach.

Shadowfax Technologies IPO allotment is scheduled for Friday, January 23, marking a crucial milestone for investors who participated in the logistics company's public offering. The ₹1,907.27 crore issue concluded with robust investor interest, achieving an overall subscription of 2.86 times.

Subscription Performance

The three-day IPO demonstrated strong market appetite across investor categories. The company received bids for 24.25 crore shares against the total offer size of 8.5 crore shares.

How to Check Allotment Status

Investors have multiple convenient options to verify their share allotment status:

BSE Website Process:

• Select 'Equity' under issue type
• Choose Shadowfax Technologies from the dropdown menu
• Enter application number or PAN details
• Complete the captcha verification

NSE Website Method:

• Navigate to equity and SME IPO bid details section
• Select the company name from available options
• Provide PAN and application details for verification

KFin Technologies Portal:

• Select Shadowfax IPO from the available list
• Verify identity through PAN, application number, or demat account details

IPO Structure and Pricing

The Bengaluru-based logistics company offered shares within a price band of ₹118 to ₹124 during the subscription period from January 20 to January 22.

Use of Proceeds and Investor Base

The fresh issue proceeds will support multiple strategic initiatives including network infrastructure expansion, lease payments for new facilities, branding and marketing strengthening, potential acquisitions, and general corporate requirements. Prior to the public offering, Shadowfax successfully raised ₹856.02 crore from anchor investors including ICICI Prudential Mutual Fund, Nippon India MF, Motilal Oswal MF, and Government Pension Fund Global.

Company Performance

Shadowfax operates an extensive nationwide logistics network covering 14,758 pincodes as of September 2025. The company reported impressive financial growth with revenue of approximately ₹1,800.00 crore for the first half of FY26, representing a 68.00% year-on-year increase, while total revenue reached ₹2,485.00 crore in FY25. The e-commerce express parcel segment contributes about 70.00% of overall revenue, with hyperlocal and quick commerce logistics accounting for nearly 20.00%.