Shadowfax Technologies IPO Subscription Status
Shadowfax Technologies IPO closed on 22 January 2026 with an overall subscription of 2.86x based on shares applied. QIB demand came in at 4.00x, NII at 0.88x, and retail at 2.42x.
Allotment will be finalised on 23 January 2026. The stock is scheduled to list on NSE and BSE on 28 January 2026.
Issue Price
Rs 124.00
GMP Today
Rs -3.00 (-2.42%)
Overall Subscription
2.86x
Issue Size
₹1,907.27 Cr
Allotment Date
23 Jan 2026
Listing Date
28 Jan 2026
Shadowfax Technologies IPO Subscription by Amount
Category-wise subscription based on amount applied at issue price Rs 124.00
| Category | Amount Offered | Amount Applied | Subscription |
|---|---|---|---|
| QIB | Rs 570.68 Cr | Rs 2,282.02 Cr | 4.00x |
| FII | - | Rs 1,361.35 Cr | - |
| DFI | - | Rs 68.54 Cr | - |
| Mutual Funds | - | Rs 710.19 Cr | - |
| Other | - | Rs 141.95 Cr | - |
| NII | Rs 285.34 Cr | Rs 251.89 Cr | 0.88x |
| bNII (above Rs 10L) | Rs 190.23 Cr | Rs 125.48 Cr | 0.66x |
| Corporate | - | Rs 3.29 Cr | - |
| Individual | - | Rs 118.72 Cr | - |
| Other | - | Rs 3.47 Cr | - |
| sNII (Rs 2L to Rs 10L) | Rs 95.11 Cr | Rs 126.41 Cr | 1.33x |
| Corporate | - | Rs 63.24 L | - |
| Individual | - | Rs 121.71 Cr | - |
| Other | - | Rs 4.06 Cr | - |
| Retail | Rs 190.23 Cr | Rs 460.84 Cr | 2.42x |
| Cut-off price | - | Rs 393.52 Cr | - |
| Fixed price | - | Rs 67.32 Cr | - |
| Employee | Rs 5.00 Cr | Rs 10.86 Cr | 2.17x |
| Cut-off price | - | Rs 9.12 Cr | - |
| Fixed price | - | Rs 1.74 Cr | - |
| Total | Rs 1,051.25 Cr | Rs 3,005.62 Cr | 2.86x |
Shadowfax Technologies IPO Subscription by Applications
Category-wise subscription based on applications received
| Category | Applications Offered | Applications Received | Subscription |
|---|---|---|---|
| QIB | 4,60,22,637 | 87 | 0.00x |
| FII | - | 42 | - |
| DFI | - | 9 | - |
| Mutual Funds | - | 5 | - |
| Other | - | 31 | - |
| NII | 13,697 | 6,543 | 0.48x |
| bNII (above Rs 10L) | 9,131 | 1,126 | 0.12x |
| Corporate | - | 9 | - |
| Individual | - | 1,085 | - |
| Other | - | 32 | - |
| sNII (Rs 2L to Rs 10L) | 4,566 | 5,417 | 1.19x |
| Corporate | - | 21 | - |
| Individual | - | 5,211 | - |
| Other | - | 185 | - |
| Retail | 1,27,841 | 2,29,092 | 1.79x |
| Cut-off price | - | 1,96,620 | - |
| Fixed price | - | 32,472 | - |
| Employee | 3,360 | 5,093 | 1.52x |
| Cut-off price | - | 4,359 | - |
| Fixed price | - | 734 | - |
| Total | 4,61,67,535 | 2,40,815 | 0.01x |
What Do These Subscription Numbers Mean?
A subscription of 2.86x by shares means the IPO received bids for 3 times the shares reserved. Allotment odds depend on application count in each category, not share volume.
Here is what each category number tells you:
QIB at 4.00x by shares: This is the strongest signal on the page. QIBs are institutional investors, mutual funds, foreign institutions, and banks. When they subscribe at 4.00x, it reflects serious institutional conviction.
NII at 0.48x by applications: NII includes high net worth individuals applying above Rs 2 lakh. Proportional allotment uses application subscription. bNII came in at 0.12x and sNII at 1.19x by applications.
At 1.79x subscription by applications, approximately 1 in 2 retail applicants can expect an allotment (~56% per application). Retail allotment is done by lottery when oversubscribed. Share subscription was 2.42x. Allotment uses application count, not share volume.
At 1.52x subscription by applications, approximately 1 in 2 employee applicants can expect an allotment (~66% per application). Employee reservation uses the same lottery logic as retail when oversubscribed.
Shadowfax Technologies IPO Allotment Chances
Allotment odds below use application subscription (number of bids received), not share or amount subscribed.
Retail
- •Application subscription: 1.79x.
- •Allotment odds: about 1 in 2 (~56% chance per application).
- •Method: Lottery. If allotted, you receive at least one lot.
- •Share subscription was 2.42x. Allotment uses application count, not share volume.
- •One application per PAN. Multiple eligible accounts in a household can improve overall family odds, not individual odds.
SHNI (Rs 2 lakh to Rs 10 lakh)
- •Application subscription: 1.19x.
- •Allotment odds: about 1 in 1 for a minimum-lot application (~84% of the applied lot on average).
- •Method: Proportional. Shares allotted are based on your bid size, not a lottery.
BHNI (above Rs 10 lakh)
- •Application subscription: 0.12x.
- •Share subscription was 0.66x. Allotment uses application count, not share volume.
Check the Shadowfax Technologies IPO Allotment Status page from 23 January 2026 for your allotment result.
Shadowfax Technologies IPO Day-wise Subscription
| Day | QIB | NII | Retail | Overall |
|---|---|---|---|---|
| Day 1 - 20 Jan 2026 | 0.40x | 0.23x | 1.20x | 0.50x |
| Day 2 - 21 Jan 2026 | 0.40x | 0.35x | 1.75x | 0.63x |
| Day 3 - 22 Jan 2026 | 4.00x | 0.88x | 2.43x | 2.86x |
Shadowfax Technologies IPO Key Dates
| Event | Date |
|---|---|
| IPO Open Date | 20 January 2026 |
| IPO Close Date | 22 January 2026 |
| Allotment Date | 23 January 2026 |
| Refund Initiation | 24 January 2026 |
| Share Credit to Demat | 24 January 2026 |
| Listing Date | 28 January 2026 |
| Minimum Investment | Rs 14,880.00 |
| Lot Size | 120 shares |
About Shadowfax Technologies IPO
No company information available
Understanding Subscription Categories
QIB - Qualified Institutional Buyers
Includes foreign institutional investors, domestic financial institutions, mutual funds, and other qualified institutions. QIB demand is considered the most reliable indicator of institutional confidence in an IPO.
NII - Non-Institutional Investors
High net worth individuals applying above Rs 2 lakh. Divided into bNII (above Rs 10 lakh) and sNII (Rs 2 lakh to Rs 10 lakh). NII allotment is proportional.
Retail - Retail Individual Investors
Investors applying up to Rs 2 lakh per PAN. Allotment is by lottery when oversubscribed. Minimum one lot per successful applicant.
Shadowfax Technologies IPO GMP Today
Live GMP, listing price estimate, and listing gain
Shadowfax Technologies IPO Allotment Status
Check allotment result on allotment date
Shadowfax Technologies IPO Details
Financials, peers, strengths, and review
All IPO Subscription Status
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Shadowfax Technologies IPO Subscription FAQs
What is Shadowfax Technologies IPO IPO subscription status today?
Shadowfax Technologies IPO IPO subscription closed on 22 January 2026 with overall subscription of 2.86x (by shares) as of 22 July 2026, 2:47 AM IST. QIB 4.00x, NII 0.48x, Retail 1.79x.
What is the overall subscription of Shadowfax Technologies IPO IPO?
Shadowfax Technologies IPO IPO is subscribed 2.86x overall by shares at close on 22 January 2026. QIB 4.00x, NII 0.48x, and Retail 1.79x.
What is Shadowfax Technologies IPO IPO QIB subscription?
Shadowfax Technologies IPO IPO QIB (Qualified Institutional Buyers) subscription is 4.00x by shares. QIB includes mutual funds, FIIs, banks, and other institutions.
What is Shadowfax Technologies IPO IPO Retail subscription?
Shadowfax Technologies IPO IPO Retail subscription is 1.79x by applications. Minimum retail bid is up to Rs 2 lakh per PAN.
What is Shadowfax Technologies IPO IPO NII subscription?
Shadowfax Technologies IPO IPO NII (Non-Institutional Investors) subscription is 0.48x by applications. NII covers bids above Rs 2 lakh.
What are allotment chances in Shadowfax Technologies IPO IPO for retail?
At 1.79x subscription by applications, approximately 1 in 2 retail applicants can expect an allotment (~56% per application). Allotment is done by lottery. Share subscription was 2.42x. Allotment uses application count, not share volume.
When is Shadowfax Technologies IPO IPO allotment date?
Shadowfax Technologies IPO IPO allotment date is 23 January 2026. Check Shadowfax Technologies IPO Allotment Status on IPOwiz from that day using your PAN.
When does Shadowfax Technologies IPO IPO subscription close?
Shadowfax Technologies IPO IPO subscription closed on 22 January 2026. No new applications are accepted after the close.
What is Shadowfax Technologies IPO IPO GMP today?
Shadowfax Technologies IPO IPO GMP is ₹-3 today (-2.42% over issue price ₹124). See live GMP on the Shadowfax Technologies IPO GMP Today page.
What is Shadowfax Technologies IPO IPO issue price and lot size?
Shadowfax Technologies IPO IPO issue price is ₹124 per share. Lot size is 120 shares. Minimum investment is ₹14,880 per lot. Issue size: ₹1,907.27 Cr.
When is Shadowfax Technologies IPO IPO listing date?
Shadowfax Technologies IPO IPO listing date is 28 January 2026 on NSE and BSE. Allotment is on 23 January 2026.
How does subscription affect Shadowfax Technologies IPO IPO allotment?
Allotment odds in Shadowfax Technologies IPO IPO depend on application subscription in each category, not share volume. Retail uses lottery when oversubscribed. NII uses proportional allotment by applications. At 2.86x overall, competition is moderate.
For allotment results from 23 January 2026, visit the Shadowfax Technologies IPO Allotment Status page. For listing day updates on 28 January 2026, download the IPOwiz App.
Reviewed by Dinesh Agrawal
15+ years in Indian capital markets and IPO research. Subscription data verified before publish.