Shadowfax IPO closes with 2.7X overall subscription

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Logistics and last-mile delivery firm Shadowfax Technologies received a muted response to its IPO, with the issue subscribed just 2.72 times, while QIBs accounted for 3.81 times the bids.

According to exchange data, Qualified Institutional Buyers (QIBs) led the demand with a 3.8x subscription, followed by retail investors at 2.3x and the employee quota at 2x, while Non-Institutional Investors (NIIs) subscribed just 0.84x.

The IPO was open for bidding from January 20 to 22 at a price band of Rs 118–124 per share, with a lot size of 120 shares and a…



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Shadowfax IPO closes with 2.7X overall subscription


Logistics and last-mile delivery firm Shadowfax Technologies received a muted response to its IPO, with the issue subscribed just 2.72 times, while QIBs accounted for 3.81 times the bids.

According to exchange data, Qualified Institutional Buyers (QIBs) led the demand with a 3.8x subscription, followed by retail investors at 2.3x and the employee quota at 2x, while Non-Institutional Investors (NIIs) subscribed just 0.84x.

The IPO was open for bidding from January 20 to 22 at a price band of Rs 118–124 per share, with a lot size of 120 shares and a…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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