Logistics and last-mile delivery firm Shadowfax Technologies made a muted debut on the Indian stock exchanges on Wednesday, with its shares listing at a discount to the IPO issue price.
The company’s shares listed at around Rs 112–113 on the NSE and BSE, nearly 9% lower than the IPO’s upper price band of Rs 124. Shadowfax had raised around Rs 1,907 crore through its initial public offering, which was open for subscription between January 20 and January 22.
The IPO saw moderate overall demand. According to exchange data, Qualified Institutional…

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