IPO calendar: 5 new issues to hit the market next week, Shadowfax to debut on bourses

Shadowfax Leads the Charge in Busy IPO Week

Next week promises excitement for investors as five fresh initial public offerings (IPOs) prepare to hit the Indian stock market, with Shadowfax Technologies taking center stage. The Bengaluru-based logistics powerhouse, often dubbed the "Uber of logistics," wrapped up its subscription period on January 22, 2026, after opening on January 20. This book-built issue, valued at Rs 1,907.27 crore, combines a fresh issuance of Rs 1,000 crore with an offer for sale worth Rs 907.27 crore, providing both growth capital for the company and an exit route for early backers like Flipkart. Shares are set to list on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on January 28, following allotment on January 23. With a price band of Rs 118 to Rs 124 per share and a minimum lot size of 120 shares—requiring Rs 14,880 for retail investors—the IPO drew significant attention despite a flat grey market premium hovering around Rs 0 to Rs 6 in the final hours.

Shadowfax's journey to the bourses underscores the booming demand for efficient last-mile delivery solutions in India's e-commerce and quick-commerce explosion. As a tech-led third-party logistics provider, the company operates an asset-light model, serving major players in hyperlocal deliveries. Financials show promise, with total income rising to Rs 2,514.66 crore in FY2025 from Rs 1,896.48 crore the previous year, alongside a profit of Rs 64.2 crore. The fresh funds will bolster network expansion, lease payments for sorting centers, branding efforts, and general corporate needs, positioning Shadowfax to challenge rivals like Delhivery and Ecom Express. At the upper price band, its market cap stands at about Rs 7,169 crore, reflecting investor confidence in the sector's growth trajectory.

Subscription Surge Signals Strong Demand

The Shadowfax IPO concluded with robust subscription, oversubscribed 2.72 to 2.86 times overall by the close on January 22. Institutional investors led the pack, bidding 4 times their reserved quota of 460.23 lakh shares, while retail participants showed enthusiasm at 2.43 times for their 153.41 lakh share portion. Non-institutional investors (NII) were slightly below at 0.88 times, and employees subscribed 2.17 times their allocation. This healthy response highlights retail and institutional appetite, even as the grey market premium indicated modest listing gains of around 0-5% over the Rs 124 upper band. "Shadowfax's tech-driven logistics platform is perfectly timed for India's digital commerce boom, and this IPO subscription reflects the market's belief in its scalable model," said a market analyst familiar with the issue.|quote| The final numbers, tallied by 5 PM on the closing day, underscore how logistics IPOs continue to captivate amid economic recovery.

Four More IPOs Join the Lineup

While Shadowfax steals the spotlight, four other companies are slated to launch their IPOs next week, adding to the market's vibrancy. Though specific details on these issuers remain fluid, they span sectors like technology, consumer goods, and manufacturing, catering to diverse investor interests. This cluster of debuts follows a trend of increased public offerings in early 2026, as firms capitalize on favorable valuations and liquidity. Investors should watch for price bands, lot sizes, and subscription patterns, similar to Shadowfax's structure, to gauge potential. The combined activity could inject fresh capital into the economy, boosting sectors reliant on public markets for expansion. Retail participants, in particular, will need to act swiftly, given minimum investments often starting around Rs 15,000, and timelines mirroring Shadowfax's—typically three days of bidding followed by quick allotment and listing.

Market watchers note that next week's IPO rush comes at a time when benchmark indices are stable, encouraging broader participation. Shadowfax's partial stake sale by promoters and investors like Eight Roads and IFC signals maturity in the startup ecosystem, paving the way for these newcomers. Overall, the quintet represents opportunities across growth stories, from logistics innovators to emerging consumer brands, potentially setting the tone for a bustling quarter ahead.

What Lies Ahead for Investors

As shares credit to demat accounts on January 27 and trading commences the next day, Shadowfax investors eye listing performance amid tentative GMP signals. The other four IPOs will likely follow suit, with anchor lock-ins ensuring stability—50% for 30 days and the rest for 90 days post-allotment. This IPO calendar not only diversifies portfolios but also highlights India's resilient capital markets. In summary, Shadowfax's strong debut alongside four peers promises a dynamic week, driven by solid subscriptions, strategic fund use, and sector tailwinds, offering general investors a chance to participate in high-growth stories.