Overview
- The QIB tranche was subscribed 3.81 times, retail 2.31 times and the NII portion 0.84 times, for total bids of about 24.24 crore shares against 8.91 crore on offer.
- The Rs 1,907.27 crore offering comprised a Rs 1,000 crore fresh issue and a Rs 907.27 crore OFS in a Rs 118–124 price band, valuing the company at just over Rs 7,100 crore at the top end.
- Shadowfax raised about Rs 856 crore from anchor investors ahead of the issue, and shares are slated to list on both BSE and NSE on January 28.
- Fresh proceeds are earmarked for expanding network infrastructure, funding leases for new first-mile, last-mile and sorting centres, and for branding, marketing and potential inorganic acquisitions.
- H1 FY26 operating revenue was about Rs 1,800–1,805 crore with net profit near Rs 21 crore, while brokers cite premium valuation and customer concentration risks as grey-market signals point to flat listing conditions.