• Price Band has been fixed at ₹ 118 to ₹ 124 per Equity Share
  • The Floor Price is 11.8 times and the Cap Price is 12.4 times of the face value (₹ 10 per share) of the Equity Shares.
  • Bid / Offer will open on Tuesday, January 20, 2026 and close on Thursday, January 22, 2026 (“Bid Dates”).
  • The Anchor Investor Bid / Offer Period shall be on Monday, January 19, 2026.
  • Bids can be made for a minimum of 120 Equity Shares and in multiples of 120 Equity Shares thereafter. (“No. of Bids”)
  • RHP Link: https://www.shadowfax.in/investor-relations/ipo-disclosures/offer-documents

Shadowfax Technologies Limited (The “Company”), shall open the Bid/Offer in relation to its initial public offer of Equity Shares on Tuesday, January 20, 2026.

The Price Band of the Offer has been fixed at ₹ 118 to ₹ 124 per Equity Share. (“Price Band”).

Bids can be made for a minimum of 120 Equity Shares and in multiples of 120 Equity Shares thereafter.  (“Minimum Bid Lot”)

The initial public offer of Equity Shares of face value  ₹ 10 per share (“Total Offer Size”) aggregating up to ₹19,072.69 million (₹ 1,907.27 crore)  comprising a fresh issue of equity shares up to ₹ 10,000 million (₹ 1000 crores) and an offer for sale of up to ₹ 9,072.69 million (₹ 907.27 crores) of face value of ₹ 10 each.

The Anchor Investor Bidding Date shall be Monday, January 19, 2026. The Bid/Offer shall open on Tuesday, January 20, 2026 and close on Thursday, January 22, 2026.

The Equity Shares offered through this Red Herring Prospectus are proposed to be listed on the Stock Exchanges being BSE Limited (“BSE”) and National Stock Exchange of India Limited (“NSE” and together with BSE, the “Stock Exchanges”). For the purposes of the Offer, NSE is the Designated Stock Exchange.

ICICI Securities Limited, Morgan Stanley India Company Private Limited and JM Financial Limited, are the book running lead managers to the Offer (“BRLMs“).

All capitalised terms used herein but not defined shall have the same meaning as ascribed to them in the Red Herring Prospectus.

The Offer is being made in terms of Rule 19(2)(b) of the SCRR read with Regulation 31 of the SEBI ICDR Regulations. The Offer is being made through the Book Building Process in compliance with Regulation 6(2) of the SEBI ICDR Regulations wherein not less than 75% of the Net Offer shall be available for allocation on a proportionate basis to Qualified Institutional Buyers (“QIBs” and such portion the “QIB Portion”) provided that our Company in consultation with the BRLMs, may allocate up to 60% of the QIB Portion to Anchor Investors on a discretionary basis, in accordance with the SEBI ICDR Regulations (“Anchor Investor Portion”), of which, up to 40% of the Anchor Investor Portion shall be reserved in the following manner: (a) up to 33.33%shall be reserved for domestic Mutual Funds; and (b) up to 6.67% shall be reserved for Life Insurance Companies and Pension Funds, subject to valid Bids being received from domestic Mutual Funds, Life Insurance Companies and Pension Funds at or above the price at which Equity Shares will be allocated to Anchor Investors (“Anchor Investor Allocation Price”), in accordance with the SEBI ICDR Regulations. In the event of under-subscription or non-allocation in the Anchor Investor Portion, the balance Equity Shares shall be added to the QIB Portion (excluding the Anchor Investor Portion) (“Net QIB Portion”).

Further, 5% of the Net QIB Portion shall be available for allocation on a proportionate basis to Mutual Funds only and the remainder of the Net QIB Portion shall be available for allocation on a proportionate basis to all QIBs including Mutual Funds, subject to valid Bids being received at or above the Offer Price. If at least 75% of the Offer cannot be Allotted to QIBs, then the entire Bid Amount (as defined hereinafter) will be refunded forthwith. However, if the aggregate demand from Mutual Funds is less than 5% of the Net QIB Portion, the balance Equity Shares available for allocation in the Mutual Fund Portion will be added to the remaining QIB Portion for proportionate allocation to QIBs. Further, not more than 15% of the Net Offer shall be available for allocation to NIBs of which (a) one third portion shall be reserved for Bidders with application size of more than ₹0.20 million and up to ₹1.00 million; and (b) two-thirds of the portion shall be reserved for Bidders with application size of more than ₹1.00 million, provided that the unsubscribed portion in either of such sub-categories may be allocated to Bidders in other sub-category of the NIBs in accordance with SEBI ICDR Regulations, subject to valid Bids being received at or above the Offer Price. Further, not more than 10% of the Net Offer shall be available for allocation to Retail Individual Bidders (“RIB”) in accordance with the SEBI ICDR Regulations, subject to valid Bids being received from them at or above the Offer Price.

Further, Equity Shares will be allocated on a proportionate basis to Eligible Employees applying under the Employee Reservation Portion, subject to valid Bids received from them at or above the Offer Price. All Bidders (except Anchor Investors) shall mandatorily participate in this Offer only through the Application Supported by Blocked Amount (“ASBA”) process by providing details of their respective ASBA accounts (including UPI ID (defined hereinafter) in case of UPI Bidders (defined hereinafter) using the UPI Mechanism (defined hereinafter)), in which case the corresponding Bid Amounts will be blocked by the SCSBs or under the UPI Mechanism, as applicable to participate in the Offer. Anchor Investors are not permitted to participate in the Anchor Investor Portion of the Offer through the ASBA process.