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Shadowfax Technologies IPO Subscription Status

Shadowfax Technologies IPO Discussion

IPO Guru Community · 2026-01-13T23:34:14+05:30

Shadowfax Technologies IPO opened from 20 Jan to 22 Jan 2026 and listed on 28 Jan 2026 at ₹112.60 — a loss of -9.19% over the issue price of ₹124.

The Shadowfax Technologies IPO has been subscribed 2.86x times overall. Retail investors have shown interest with bids for 2.43x the shares available. The Non-Institutional Investor (NII) category has been subscribed 0.88x. Within NII, Big HNI (B-HNI) subscribed 0.66x and Small HNI (S-HNI) subscribed 1.33x. Qualified Institutional Buyers (QIBs) have subscribed 4x. Data last updated on 11 Jul, 05:42 PM.

The IPO subscription period has ended. The issue opened on 20 Jan, 2026 and closes on 22 Jan, 2026. The shares are expected to list on stock exchanges on 28 Jan, 2026.

Full Details Check GMP

Live Subscription Data
Day-wise Subscription History
Allotment Probability
What Does This Subscription Data Mean?
Frequently Asked Questions

Total Subscription

2.86 x

QIB 4x

BHNI 0.66x

SHNI 1.33x

Retail 2.43x

Employee 2.17x

Live Bidding

Category	Offered	Applied	Amount (Cr)	Bid Details	TIMES
QIB	4,83,62,771	19,34,51,084	2,398.79 Cr	19,34,51,084 of 4,83,62,771 2,398.79 Cr	4x
1(a) Foreign Institutional Investors (FIIs)	0	10,97,85,960	1,361.35 Cr	10,97,85,960 1,361.35 Cr	-
1(b) Domestic Financial Institutions (Banks/FIs/Insurance)	0	55,27,320	68.54 Cr	55,27,320 68.54 Cr	-
1(c) Mutual Funds	0	5,72,73,000	710.19 Cr	5,72,73,000 710.19 Cr	-
1(d) Others	0	1,14,47,520	141.95 Cr	1,14,47,520 141.95 Cr	-
NII	2,41,81,385	2,12,79,619	263.87 Cr	2,12,79,619 of 2,41,81,385 263.87 Cr	0.88x
2.1 Big NII — bid amount above ₹10 Lakh	1,61,20,924	1,06,39,810	131.93 Cr	1,06,39,810 131.93 Cr	0.66
2.1(a) Corporates	0	2,65,320	3.29 Cr	2,65,320 3.29 Cr	-
2.1(b) Individuals (other than RIIs)	0	95,74,080	118.72 Cr	95,74,080 118.72 Cr	-
2.1(c) Others	0	2,80,200	3.47 Cr	2,80,200 3.47 Cr	-
2.2 Small NII — bid amount ₹2–10 Lakh	80,60,461	1,07,20,413	132.93 Cr	1,07,20,413 132.93 Cr	1.33
2.2(a) Corporates	0	51,000	0.63 Cr	51,000 0.63 Cr	-
2.2(b) Individuals (other than RIIs)	0	98,15,520	121.71 Cr	98,15,520 121.71 Cr	-
2.2(c) Others	0	3,27,720	4.06 Cr	3,27,720 4.06 Cr	-
Retail	1,61,20,923	3,91,73,843	485.76 Cr	3,91,73,843 of 1,61,20,923 485.76 Cr	2.43x
Employee	4,23,728	9,19,490	11.40 Cr	9,19,490 of 4,23,728 11.40 Cr	2.17x
TOTAL	8,90,88,807	25,47,93,988	3,159.45 Cr	25,47,93,988 3,159.45 Cr	2.86x

Last Updated: 11 Jul 2026, 05:42 PM

Subscription Insights

Retail Allotment

Subscription is above 1x. While a lottery is guaranteed, your probability of allotment is approximately 41.2% for a single lot.

Caution Advised

The stock is trading at a discount (-5%) in the grey market, signaling potential listing at or below the issue price.

Day-wise Subscription History

Subscription trends over the last 3 days

Date	Total	QIB	BHNI	SHNI	Retail	Employee
22 Jan 2026 DAY 3	2.86x	4x	0.66x	1.33x	2.43x	2.17x
QIB 4x BHNI 0.66x SHNI 1.33x Retail 2.43x Employee 2.17x
21 Jan 2026 DAY 2	0.60x	0.38x	0.20x	0.58x	1.63x	1.44x
QIB 0.38x BHNI 0.20x SHNI 0.58x Retail 1.63x Employee 1.44x
20 Jan 2026 DAY 1	0.47x	0.38x	0.12x	0.39x	1.09x	0.93x
QIB 0.38x BHNI 0.12x SHNI 0.39x Retail 1.09x Employee 0.93x

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Anchor Investor Allocation

Breakdown of shares allotted to anchor investors before the IPO opening

#	Anchor Investor	Group Entity	Shares Allotted	Amt (₹ cr.)	% Allocated	% of Issue
1	NIPPON INDIA SMALL CAP FUND	NIPPON INDIA MUTUAL FUND	9677520	₹120.00 Cr	14.02%	6.29%
2	ICICI PRUDENTIAL FLEXICAP FUND	ICICI PRUDENTIAL MUTUAL FUND	7844400	₹97.27 Cr	11.36%	5.10%
3	ICICI PRUDENTIAL BALANCED ADVANTAGE FUND	ICICI PRUDENTIAL MUTUAL FUND	4183680	₹51.88 Cr	6.06%	2.72%
4	GOVERNMENT PENSION FUND GLOBAL	GOVERNMENT PENSION FUND GLOBAL	4032360	₹50.00 Cr	5.84%	2.62%
5	ICICI PRUDENTIAL LIFE INSURANCE CO.LTD.	ICICI PRUDENTIAL LIFE INSURANCE	4032360	₹50.00 Cr	5.84%	2.62%
6	SOCIETE GENERALE-ODI	SOCIETE GENERAL	3533860	₹43.82 Cr	5.12%	2.30%
7	HSBC GLOBAL INVESTMENT FUNDS-ASIA EX JAPAN EQUITY SMALLER COMPANIES	HSBC	3225840	₹40.00 Cr	4.67%	2.10%
8	EASTSPRING INVESTMENTS-ASIA OPPORTUNITIES EQUITY FUND	EASTSPRING	3225840	₹40.00 Cr	4.67%	2.10%
9	MOTILAL OSWAL LARGE CAP FUND	MOTILAL OSWAL MUTUAL FUND	2661360	₹33.00 Cr	3.86%	1.73%
10	TIMF HOLDINGS	TIMF HOLDINGS	2419440	₹30.00 Cr	3.50%	1.57%
11	JUPITER INDIA FUND	JUPITER	2345400	₹29.08 Cr	3.40%	1.52%
12	ICICI PRUDENTIAL TRANSPORTATION & LOGISTICS FUND	ICICI PRUDENTIAL MUTUAL FUND	2091840	₹25.94 Cr	3.03%	1.36%
13	BANDHAN LARGE & MID CAP FUND	BANDHAN MUTUAL FUND	1613040	₹20.00 Cr	2.34%	1.05%
14	KOTAK MAHINDRA LIFE INSURANCE CO.LTD.	KOTAK LIFE INSURANCE	1612920	₹20.00 Cr	2.34%	1.05%
15	HSBC FOCUSED FUND	HSBC MUTUAL FUND	1382520	₹17.14 Cr	2.00%	0.90%
16	EDELWEISS DISCOVERY FUND-SERIES I	-	1209720	₹15.00 Cr	1.75%	0.79%
17	ICICI PRUDENTIAL EXPORTS & SERVICES FUND	ICICI PRUDENTIAL MUTUAL FUND	1202760	₹14.91 Cr	1.74%	0.78%
18	MOTILAL OSWAL CONSUMPTION FUND	MOTILAL OSWAL MUTUAL FUND	967800	₹12.00 Cr	1.40%	0.63%
19	JUPITER GLOBAL FUND,THE-JUPITER INDIA SELECT	JUPITER	880440	₹10.92 Cr	1.28%	0.57%
20	OXBOW INDIA FUND	OXBOW	806520	₹10.00 Cr	1.17%	0.52%
21	FLORIDA RETIREMENT SYSTEM-ALLSPRING GLOBAL INVESTMENTS,LLC (EMSC)	FLORIDA RETIREMENT SYSTEM	806520	₹10.00 Cr	1.17%	0.52%
22	SUSQUEHANNA PACIFIC PTY.LTD.	SUSQUEHANN	806520	₹10.00 Cr	1.17%	0.52%
23	BANDHAN BALANCED ADVANTAGE FUND	BANDHAN MUTUAL FUND	806400	₹10.00 Cr	1.17%	0.52%
24	EDELWEISS EQUITY SAVINGS FUND	EDELWEISS MUTUAL FUND	645240	₹8.00 Cr	0.93%	0.42%
25	EDELWEISS RECENTLY LISTED IPO FUND	EDELWEISS MUTUAL FUND	564480	₹7.00 Cr	0.82%	0.37%
26	OXBOW MASTER FUND LTD.	OXBOW	557335	₹6.91 Cr	0.81%	0.36%
27	GREAT EASTERN LIFE-SINGAPORE LIFE INSURANCE FUND-PAR-LION GLOBAL EQUITY	GREAT EASTERN LIFE	557215	₹6.91 Cr	0.81%	0.36%
28	INTEGRATED CORE STRATEGIES (ASIA) PTE.LTD.	INTEGRATED CORE	557215	₹6.91 Cr	0.81%	0.36%
29	NUVAMA MULTI ASSET STRATEGY RETURN FUND	NUVAMA	557215	₹6.91 Cr	0.81%	0.36%
30	HELIOS SMALL CAP FUND	HELIOS MUTUAL FUND	557215	₹6.91 Cr	0.81%	0.36%
31	JM FLEXICAP FUND	JM FINANCIAL MUTUAL FUND	557215	₹6.91 Cr	0.81%	0.36%
32	TRUST MF SMALL CAP FUND	TRUST MUTUAL FUND	557215	₹6.91 Cr	0.81%	0.36%
33	MORGAN STANLEY ASIA (SINGAPORE) PTE.-ODI	MORGAN STANLEY	557215	₹6.91 Cr	0.81%	0.36%
34	BOFA SECURITIES EUROPE SA-ODI	BOFA SECURITIES	557215	₹6.91 Cr	0.81%	0.36%
35	HSBC INFRASTRUCTURE FUND	HSBC MUTUAL FUND	553080	₹6.86 Cr	0.80%	0.36%
36	HSBC BUSINESS CYCLES FUND	HSBC MUTUAL FUND	483840	₹6.00 Cr	0.70%	0.31%
37	MOTILAL OSWAL SPECIAL OPPORTUNITIES FUND	MOTILAL OSWAL MUTUAL FUND	161280	₹2.00 Cr	0.23%	0.10%
38	MOTILAL OSWAL INFRASTRUCTURE FUND	MOTILAL OSWAL MUTUAL FUND	120960	₹1.50 Cr	0.18%	0.08%
39	MOTILAL OSWAL SERVICES FUND	MOTILAL OSWAL MUTUAL FUND	120960	₹1.50 Cr	0.18%	0.08%
	Total		69,033,955	₹856.01 Cr	100.03%

Shadowfax Technologies IPO Allotment Probability

Retail (up to ₹2 L)

1 in 3

~41.2% chance per PAN — based on 2.43x subscription. Winners get exactly 1 lot (₹14,880) by SEBI lottery, however many lots you bid.

Small HNI (₹2–10 L)

1 in 2

~75.2% chance — based on 1.33x subscription. Lottery allots the minimum S-HNI application of 14 lots (₹2.1 L) per winner; bidding bigger doesn't improve odds.

Big HNI (above ₹10 L)

Full allotment

0.66x — undersubscribed. Valid B-HNI bids should be allotted in full.

QIB (institutions)

Proportionate allotment — at 4x, institutions receive ~25% of their bid. No lottery; not open to individual investors. Moderate institutional demand.

Odds marked with applicant counts are computed from the exchange's actual application data (applicants ÷ allotment slots); others assume minimum-size bids at the current subscription multiple. Retail and HNI allotment is by SEBI-mandated lottery of the minimum application when oversubscribed; QIB allotment is proportionate. Numbers move until subscription closes. This is not investment advice.

What Does This Subscription Data Mean?

IPO subscription data tells you how much demand exists for the shares being offered, broken down by investor category. Understanding each category helps you gauge the real sentiment behind the numbers:

QIB (Qualified Institutional Buyers) — includes mutual funds, FIIs, insurance companies, and banks. QIBs do deep due diligence before bidding. A QIB subscription above 10x is a strong institutional endorsement. Watch QIB numbers closely on the final day — they often hold back and flood in after 3 PM.
NII / HNI (Non-Institutional Investors) — high-net-worth individuals bidding above ₹2 lakh. NII allotment is proportionate (not lottery), so higher NII subscription means smaller per-lot allotment. Big HNI (B-HNI) bids above ₹10 lakh; Small HNI (S-HNI) bids ₹2–10 lakh.
Retail — individual investors bidding up to ₹2 lakh. When retail is below 1x, everyone who applied gets full allotment. When oversubscribed, SEBI mandates a computerised lottery — only 1 lot per successful applicant regardless of how many lots you apply for.
Overall Subscription — a blended multiple across all categories. A total subscription above 10x is considered strong; above 50x is exceptional and usually predicts strong listing gains.

Data sourced from BSE/NSE. Subscription numbers are updated during market hours (10 AM – 5 PM IST) on active subscription days.

Frequently Asked Questions

What is the current subscription status of Shadowfax Technologies IPO?

As of IPO close date (22 Jan, 2026), the Shadowfax Technologies IPO is subscribed 2.86x times. Retail category is 2.43x, and NII is 0.88x subscribed.

When is the allotment date for Shadowfax Technologies IPO?

The allotment for Shadowfax Technologies IPO is expected to be finalized on 23 January, 2026.

What is the GMP of Shadowfax Technologies?

The Grey Market Premium (GMP) for Shadowfax Technologies is currently ₹-6, indicating a potential listing gain of -5%.

When will Shadowfax Technologies IPO list on the stock market?

Shadowfax Technologies is scheduled to list on BSE and NSE on 28 January, 2026.

What are the chances of getting allotment in Shadowfax Technologies IPO?

The retail category is oversubscribed at 2.43x, meaning allotment is by lottery. Statistically, approximately 1 in 3 applicants will receive allotment. Applying with multiple family member accounts (each at minimum lot size) improves your cumulative odds.

What does QIB subscription of 4x mean for Shadowfax Technologies IPO?

Moderate — QIBs have subscribed 4x. Institutional demand is present but not overwhelming. Watch for any last-minute QIB surge on the final day.

How to check Shadowfax Technologies IPO allotment status?

After the allotment date (23 Jan, 2026), you can check your Shadowfax Technologies IPO allotment status on IPO Guru's allotment checker, on the BSE/NSE website using your PAN or application number, or through your broker's app.