- The Price Band of the Offer has been fixed at ₹118 to ₹124 per Equity Share.
- Bid / Offer opens on Tuesday, January 20, 2026 and closes on Thursday, January 22, 2026 (“Bid Dates”).
- Bids can be made for a minimum of 120 Equity Shares and in multiples of 120 Equity Shares thereafter. (“No. of Bids”)
- BSE Link: https://www.bseindia.com/markets/MarketInfo/DispNewNoticesCirculars.aspx?page=20260119-42
Shadowfax Technologies Limited has alloted 6,90,33,955 equity shares to 39 anchor investors and Raised ₹856.02 crore at the upper price band of ₹124 per equity shares with a face value of Rs.10 per equity (including share premium of ₹114/- per Equity Share).
| Sr. No. | Name of Anchor Investors | Equity Shares Allocated | % of Anchor Portion | Bid Price (₹) | Total Amount Allocated (₹) |
| 1 | ICICI PRUDENTIAL FLEXICAP FUND | 78,44,400 | 11.36% | 124 | 97,27,05,600 |
| 2 | ICICI PRUDENTIAL BALANCED ADVANTAGE FUND | 41,83,680 | 6.06% | 124 | 51,87,76,320 |
| 3 | ICICI PRUDENTIAL TRANSPORTATION AND LOGISTICS FUND | 20,91,840 | 3.03% | 124 | 25,93,88,160 |
| 4 | ICICI PRUDENTIAL EXPORTS AND SERVICES FUND | 12,02,760 | 1.74% | 124 | 14,91,42,240 |
| 5 | NIPPON LIFE INDIA TRUSTEE LTD-A/C NIPPON INDIA SMALL CAP FUND | 96,77,520 | 14.02% | 124 | 1,20,00,12,480 |
| 6 | GOVERNMENT PENSION FUND GLOBAL | 40,32,360 | 5.84% | 124 | 50,00,12,640 |
| 7 | ICICI PRUDENTIAL LIFE INSURANCE COMPANY LIMITED | 40,32,360 | 5.84% | 124 | 50,00,12,640 |
| 8 | MOTILAL OSWAL LARGE CAP FUND | 26,61,360 | 3.86% | 124 | 33,00,08,640 |
| 9 | MOTILAL OSWAL CONSUMPTION FUND | 9,67,800 | 1.40% | 124 | 12,00,07,200 |
| 10 | MOTILAL OSWAL INFRASTRUCTURE FUND | 1,20,960 | 0.18% | 124 | 1,49,99,040 |
| 11 | MOTILAL OSWAL SERVICES FUND | 1,20,960 | 0.18% | 124 | 1,49,99,040 |
| 12 | MOTILAL OSWAL SPECIAL OPPORTUNITIES FUND | 1,61,280 | 0.23% | 124 | 1,99,98,720 |
| 13 | HSBC GLOBAL INVESTMENT FUNDS – ASIA EX JAPAN EQUITY SMALLER COMPANIES | 32,25,840 | 4.67% | 124 | 40,00,04,160 |
| 14 | JUPITER INDIA FUND | 23,45,400 | 3.40% | 124 | 29,08,29,600 |
| 15 | THE JUPITER GLOBAL FUND – JUPITER INDIA SELECT | 8,80,440 | 1.28% | 124 | 10,91,74,560 |
| 16 | EASTSPRING INVESTMENTS – ASIA OPPORTUNITIES EQUITY FUND | 32,25,840 | 4.67% | 124 | 40,00,04,160 |
| 17 | TIMF HOLDINGS | 24,19,440 | 3.50% | 124 | 30,00,10,560 |
| 18 | BANDHAN LARGE & MID CAP FUND | 16,13,040 | 2.34% | 124 | 20,00,16,960 |
| 19 | BANDHAN BALANCED ADVANTAGE FUND | 8,06,400 | 1.17% | 124 | 9,99,93,600 |
| 20 | HSBC MUTUAL FUND – HSBC FOCUSED FUND | 13,82,520 | 2.00% | 124 | 17,14,32,480 |
| 21 | HSBC MUTUAL FUND – HSBC INFRASTRUCTURE FUND | 5,53,080 | 0.80% | 124 | 6,85,81,920 |
| 22 | HSBC MUTUAL FUND – HSBC BUSINESS CYCLES FUND | 4,83,840 | 0.70% | 124 | 5,99,96,160 |
| 23 | KOTAK MAHINDRA LIFE INSURANCE COMPANY LTD. | 16,12,920 | 2.34% | 124 | 20,00,02,080 |
| 24 | OXBOW INDIA FUND | 8,06,520 | 1.17% | 124 | 10,00,08,480 |
| 25 | OXBOW MASTER FUND LIMITED | 5,57,335 | 0.81% | 124 | 6,91,09,540 |
| 26 | EDELWEISS TRUSTEESHIP CO LTD AC – EDELWEISS MF AC – EDELWEISS RECENTLY LISTED IPO FUND | 5,64,480 | 0.82% | 124 | 6,99,95,520 |
| 27 | EDELWEISS TRUSTEESHIP CO LTD AC – EDELWEISS MF AC EDELWEISS EQUITY SAVINGS FUND | 6,45,240 | 0.93% | 124 | 8,00,09,760 |
| 28 | EDELWEISS DISCOVERY FUND – SERIES I | 12,09,720 | 1.75% | 124 | 15,00,05,280 |
| 29 | FLORIDA RETIREMENT SYSTEM – ALLSPRING GLOBAL INVESTMENTS, LLC (EMSC) | 8,06,520 | 1.17% | 124 | 10,00,08,480 |
| 30 | SUSQUEHANNA PACIFIC PTY LTD | 8,06,520 | 1.17% | 124 | 10,00,08,480 |
| 31 | GREAT EASTERN LIFE-SINGAPORE LIFE INSURANCE FUND-PAR-LION GLOBAL EQUITY | 5,57,215 | 0.81% | 124 | 6,90,94,660 |
| 32 | INTEGRATED CORE STRATEGIES (ASIA) PTE.LTD. | 5,57,215 | 0.81% | 124 | 6,90,94,660 |
| 33 | NUVAMA MULTI ASSET STRATEGY RETURN FUND-INVESTMENT ACCOUNT | 5,57,215 | 0.81% | 124 | 6,90,94,660 |
| 34 | HELIOS SMALL CAP FUND | 5,57,215 | 0.81% | 124 | 6,90,94,660 |
| 35 | JM FINANCIAL MUTUAL FUND – JM FLEXICAP FUND | 5,57,215 | 0.81% | 124 | 6,90,94,660 |
| 36 | TRUST MUTUAL FUND – TRUST MF SMALL CAP FUND | 5,57,215 | 0.81% | 124 | 6,90,94,660 |
| 37 | SOCIETE GENERALE – ODI | 35,33,860 | 5.12% | 124 | 43,81,98,640 |
| 38 | MORGAN STANLEY ASIA (SINGAPORE) PTE – ODI | 5,57,215 | 0.81% | 124 | 6,90,94,660 |
| 39 | BOFA SECURITIES EUROPE SA ODI | 5,57,215 | 0.81% | 124 | 6,90,94,660 |
| Total | 6,90,33,955 | 100% | 8,56,02,10,420 |
Out of the total allocation of 6,90,33,955 Equity Shares to the Anchor Investors, 3,67,52,805 Equity Shares (i.e. 53.24 % of the total allocation to Anchor Investors) were allocated to 9 domestic mutual funds, which have applied through a total of 20 schemes. Set forth below is a scheme-wise detail of mutual funds:
| Sr. No. | Name of Anchor Investors | Equity Shares Allocated | % of Anchor Portion | Bid Price (₹) | Total Amount Allocated (₹) |
| 1 | ICICI PRUDENTIAL FLEXICAP FUND | 78,44,400 | 11.36% | 124 | 97,27,05,600 |
| 2 | ICICI PRUDENTIAL BALANCED ADVANTAGE FUND | 41,83,680 | 6.06% | 124 | 51,87,76,320 |
| 3 | ICICI PRUDENTIAL TRANSPORTATION AND LOGISTICS FUND | 20,91,840 | 3.03% | 124 | 25,93,88,160 |
| 4 | ICICI PRUDENTIAL EXPORTS AND SERVICES FUND | 12,02,760 | 1.74% | 124 | 14,91,42,240 |
| 5 | NIPPON LIFE INDIA TRUSTEE LTD-A/C NIPPON INDIA SMALL CAP FUND | 96,77,520 | 14.02% | 124 | 1,20,00,12,480 |
| 6 | MOTILAL OSWAL LARGE CAP FUND | 26,61,360 | 3.86% | 124 | 33,00,08,640 |
| 7 | MOTILAL OSWAL CONSUMPTION FUND | 9,67,800 | 1.40% | 124 | 12,00,07,200 |
| 8 | MOTILAL OSWAL INFRASTRUCTURE FUND | 1,20,960 | 0.18% | 124 | 1,49,99,040 |
| 9 | MOTILAL OSWAL SERVICES FUND | 1,20,960 | 0.18% | 124 | 1,49,99,040 |
| 10 | MOTILAL OSWAL SPECIAL OPPORTUNITIES FUND | 1,61,280 | 0.23% | 124 | 1,99,98,720 |
| 11 | BANDHAN LARGE & MID CAP FUND | 16,13,040 | 2.34% | 124 | 20,00,16,960 |
| 12 | BANDHAN BALANCED ADVANTAGE FUND | 8,06,400 | 1.17% | 124 | 9,99,93,600 |
| 13 | HSBC MUTUAL FUND – HSBC FOCUSED FUND | 13,82,520 | 2.00% | 124 | 17,14,32,480 |
| 14 | HSBC MUTUAL FUND – HSBC INFRASTRUCTURE FUND | 5,53,080 | 0.80% | 124 | 6,85,81,920 |
| 15 | HSBC MUTUAL FUND – HSBC BUSINESS CYCLES FUND | 4,83,840 | 0.70% | 124 | 5,99,96,160 |
| 16 | EDELWEISS TRUSTEESHIP CO LTD AC – EDELWEISS MF AC – EDELWEISS RECENTLY LISTED IPO FUND | 5,64,480 | 0.82% | 124 | 6,99,95,520 |
| 17 | EDELWEISS TRUSTEESHIP CO LTD AC – EDELWEISS MF AC EDELWEISS EQUITY SAVINGS FUND | 6,45,240 | 0.93% | 124 | 8,00,09,760 |
| 18 | HELIOS SMALL CAP FUND | 5,57,215 | 0.81% | 124 | 6,90,94,660 |
| 19 | JM FINANCIAL MUTUAL FUND-JM FLEXICAP FUND | 5,57,215 | 0.81% | 124 | 6,90,94,660 |
| 20 | TRUST MUTUAL FUND – TRUST MF SMALL CAP FUND | 5,57,215 | 0.81% | 124 | 6,90,94,660 |
| Total | 3,67,52,805 | 53.24% | 4,55,73,47,820 |
Out of the total allocation of 6,90,33,955 Equity Shares to the Anchor Investors, 56,45,280 Equity Shares (i.e. 8.18% of the total allocation to Anchor Investors) were allocated to 2 Life Insurance companies as detailed below.
| Sr. No. | Name of Anchor Investors | Equity Shares Allocated | % of Anchor Portion | Bid Price (₹) | Total Amount Allocated (₹) |
| 1 | ICICI PRUDENTIAL LIFE INSURANCE COMPANY LIMITED | 40,32,360 | 5.84% | 124 | 50,00,12,640 |
| 2 | KOTAK MAHINDRA LIFE INSURANCE COMPANY LTD. | 16,12,920 | 2.34% | 124 | 20,00,02,080 |
| Total | 56,45,280 | 8.18% | 70,00,14,720 |
ICICI Securities Limited, Morgan Stanley India Company Private Limited and JM Financial Limited, are the book running lead managers to the issue.
