Shadowfax Technologies IPO **Executive Summary** Shadowfax Technologies is set to launch its Rs 1,907 crore Initial Public Offering (IPO) on January 20, 2026. The issue represents a mix of fresh capital injection for growth and an exit opportunity for current stakeholders, with early market indicators suggesting moderate investor demand. **Key Issue Details** * **Subscription Period:** January 20, 2026 – January 22, 2026 * **Price Band:** Rs 118 – Rs 124 per equity share * **Total Issue Size:** Rs 1,907 crore * **Fresh Issue:** Rs 1,000 crore (earmarked for business expansion) * **Offer for Sale (OFS):** Rs 907 crore (divestment by existing shareholders) **Market Sentiment & Pricing Outlook** * **Grey Market Premium (GMP):** Pre-listing activity indicates a GMP of approximately 8%, reflecting an easing in speculative demand. * **Implied Listing Price:** Market trends suggest a potential listing price near Rs 134 per share. * **Investor Interest:** Current metrics indicate moderate traction among investors ahead of the issue opening.