SHADOWFAX
MSCI rejig: LIC, Meesho, Coforge set to gain from index inclusion. How much inflows could they attract?
MSCI’s November index rejig will add LIC, Coforge, Meesho and Adani Green to its Standard Index, while removing PI Industries. Nuvama estimates the changes could trigger around $2 billion in passive inflows into Indian equities. Several stocks will also see weight adjustments, while the Smallcap Index will witness fresh additions and exclusions, creating potential stock-specific inflows and outflows.
ET AI Business Transformation Masterclass heads to IIM Bangalore to decode enterprise AI adoption
The AI Business Transformation Masterclass & Awards 2026 at IIM Bangalore will feature leaders from IndusInd Bank, PhonePe, PepsiCo, Shadowfax, Myntra, Shopify, NVIDIA and other organisations. Sessions will cover agentic AI, voice technology, supply chains, contextual commerce and physical AI, followed by the ET Most Innovative AI Product Awards 2026.
Fintechs fortify cyber defences; Logistics cos in the speed lane
Happy Monday! Fintechs are stepping up security as AI-powered cyberattacks become more sophisticated. This and more in today’s ETtech Morning Dispatch.
New-age logistics companies see rapid delivery as key revenue driver
Delhivery and Shadowfax, two of India’s largest third-party logistics companies, are expanding their same-day and next-day delivery services, betting that merchants will pay more for faster deliveries as competition for customers intensifies.
Delhivery swings to Rs 41 crore profit as revenue rises 20% in Q2
The Gurugram-based company posted a net profit of Rs 41 crore during the three month period, compared to a Rs 50 crore net loss in the same quarter last year. The turnaround in Delhivery’s bottomline was consistent with its improving unit economics over the last few quarters. In the April-June period, it reported Rs 32 crore in net profit.
Rising tech costs drive EMI sales; Shadowfax Q2 profit soars
Happy Friday! Shoppers are turning to EMIs as electronics prices rise. This and more in today’s ETtech Morning Dispatch.
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Shadowfax revenue rises 57% in Q2, net profit jumps fivefold
Its total revenue, including other income, rose 58% YoY to Rs 1,558 crore in Q2 FY27. The Bengaluru-based company’s total expenses rose 53% YoY to Rs 1,490 core, driven by other expenses, employee benefits expenses and depreciation and amortisation costs.
Qualcomm sells nearly 1% stake in Shadowfax Technologies for Rs 157 crore
Qualcomm Ventures, through its affiliate Qualcomm Asia Pacific Pte Ltd, sold a little over 57.13 lakh shares, representing a 0.98% stake, in Bengaluru-based Shadowfax Technologies, according to bulk deal data on the BSE.
Promoters dilute 6% stake in Avalon Technologies for Rs 871 crore
Avalon Technologies saw three of its promoter entities divest a collective 6% stake for a substantial Rs 871 crore via bulk deals, bringing their ownership down from 44.39% to 38.4%. In this strategic move, Kotak Mahindra Mutual Fund bought 24.01 lakh shares priced around Rs 2,171. The deal was struck with share prices fluctuating between Rs 2,171.03 and Rs 2,173.35, while Avalon Technologies closed slightly lower at Rs 2,294.
Investment banks earn Rs 2,274 crore from 81 mainboard IPOs in 2026
During the initial nine months of 2026, investment banks generated fees totaling ₹2,274 crore by managing 81 mainboard IPOs. This figure showcases a notable uptick in both earnings and amounts raised versus last year. The September quarter alone yielded around ₹1,600 crore, highlighting a remarkable rebound in the primary market.
Ecommerce firms scale logistics, hiring ahead of festive sales
Flipkart’s logistics arm Ekart has added 14 million cubic feet of warehousing space nationwide, increasing its storage capacity by 50%, the company said on Tuesday. The Walmart-backed company also added more than 900 delivery hubs to its last-mile network.
Logistics firms bulk up hiring, capacity to carry heavier festival loads
As the festive season approaches, Indian logistics firms are bracing for a notable spike in shipment volumes. Companies like DTDC and Blue Dart are ramping up their workforce, bringing in temporary employees to handle the anticipated delivery surge. Amazon is also enhancing its fulfillment and delivery networks to accommodate an influx in demand. Key considerations for the industry include rising wages and necessary operational adjustments.
Iztri raises Rs 10 crore funding from All In Capital, Suashish Group, others
Iztri, an innovative on-demand fabric care startup, has successfully raised ten crore rupees to expand its operations. This capital will support the growth of their services, focusing on shoe repairs and dry cleaning. The company intends to strengthen its hub network and improve infrastructure while targeting a significant increase in its customer base over the next six months, with plans to expand into southern India and major metropolitan regions.
BSE IPO index surges 35% in five months of FY27, hits record high on strong listings
The BSE IPO index reached an all-time high, surging 35% in five months. Its SME counterpart also jumped 55%, marking a strong performance for recent listings. These gains significantly outpaced the broader market indices like Sensex and Nifty. However, the rally was concentrated, with a few stocks driving most of the gains. Retail and HNI investors are favoring fresh growth stories over established large-cap companies.
Shadowfax Technologies shares gain 6% after weak debut at 9% discount. Should you buy, sell or hold?
Shadowfax Technologies shares rebounded 6% to Rs 119.5 after a discounted listing at Rs 124. The IPO saw a 2.8x subscription, with institutional investors driving demand. Analysts advise caution for fresh investors, recommending a hold for allottees with strict stop losses due to valuation concerns.
Shadowfax Technologies shares list at 9% discount to IPO price
Shadowfax Technologies shares began trading on Dalal Street at a discount. The company's IPO saw subdued demand, with grey market premiums turning negative. Institutional investors showed more interest than retail and non-institutional investors. Proceeds will fund expansion and operational scaling. The company operates in e-commerce and hyperlocal delivery.
Shadowfax Technologies IPO set to launch; check GMP and other key details
Shadowfax Technologies’ Rs 1,907 crore IPO opens on January 20, 2026, with a price band of Rs 118–124 and will be open till January 22. Grey market premium has eased to about 8%, indicating moderate investor interest and a potential listing near Rs 134 per share. The issue includes a Rs 1,000 crore fresh issue to fund expansion and a Rs 907 crore offer for sale by existing shareholders.
Shadowfax Technologies IPO: GMP signals positive listing outlook after price band announcement
Shadowfax Technologies' upcoming IPO is generating positive buzz, with grey market premiums indicating a strong listing. The logistics provider, which recently turned profitable, aims to raise Rs 1,907 crore. Investors are watching valuation and execution in a competitive sector, but robust revenue growth and a wide client base offer optimism.
Flipkart-backed Shadowfax files updated DRHP for Rs 2,000 crore IPO
Shadowfax Technologies has submitted its updated IPO papers to Sebi. The company plans to raise Rs 1,000 crore through a fresh issue and an equal amount via an offer for sale. Funds will boost network infrastructure, lease payments, and branding. Shadowfax saw significant revenue growth and operational profitability in FY24. It joins other new-age companies preparing for public listings.
EBITDA, PAT profitability achieved with 33% growth in FY24: Shadowfax
Shadowfax Technologies has diversified its revenue streams, focusing on value-added services like Prime solutions, Quick Commerce, and more.
Uber in deal with Shadowfax to integrate two-wheeler fleet
In a statement, Uber said the partnership will allow it to strengthen its bike-taxi operations with additional two-wheelers and launch operations in towns where Shadowfax is present.
Shadowfax launches distribution centre in Port Blair
Shadowfax will provide reverse shipping services, doorstep quality checks, and hand-to-hand exchanges in the island.
Shadowfax launches delivery app Flash, aims to make 30-minute deliveries
Flash by Shadowfax caters to on-demand convenience, empowering users to request pickups and drop-offs as needed.
Shadowfax receives 100 electric scooters from Hero Electric
The first batch of 100 e-scooters was delivered by Hero Electric to Shadowfax in Bangalore on Friday under a partnership between the two companies. As part of the partnership announced in April this year, Hero Electric will help the company in converting a quarter of its 1,00,000 strong delivery fleet with its NYX HX e-scooters.
Shadowfax to hire 75,000 delivery partners by July-end
"Shadowfax will recruit 75,000 delivery partners across India by the end of July 2022. These riders can earn up to Rs 35,000 per month while benefitting from the free medical insurance with an accident and health cover of Rs 7.5 lakh," the company said. In addition to this, it will offer other rider benefit programmes such as flexible working hours, and a minimum earning guarantee for its community of delivery partners, it said.
Flipkart leads $60 million round in logistics startup Shadowfax
The companies did not disclose the transaction value, but sources briefed on the matter told ET that the investment valued Shadowfax at about $200-$250 million, and is also likely to see other new investors join in.
Shadowfax announces two senior hires
Before joining Shadowfax, Gupta was a Deputy Director at Myntra where his role included driving the business growth for private brands.
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