By Admin 
Shadowfax IPO Listing: Shares of Shadowfax company were listed in the Indian stock market on Wednesday trading day. But investors did not see much benefit in this. Shares of Shadowfax, which provides services to big companies in the e-commerce and delivery sector, were listed at a discount compared to the IPO.
The company had issued its shares at a price of Rs 124, while at the time of listing it was entered at Rs 113 on BSE and Rs 112.60 on NSE. Let us know the performance of the company in the stock market…..
IPO subscription and investor participation
Shadowfax’s Rs 1,907 crore IPO was open for subscription from January 20 to 22. This issue received a mixed response from investors and overall it was subscribed 2.86 times.
Talking about the figures, qualified institutional buyers subscribed 4.00 times, while the category of non-institutional investors subscribed only 0.88 times. At the same time, the share of retail investors was subscribed 2.43 times and the reserve quota for employees was subscribed 2.17 times.
Company’s performance in stock market
A decline in company shares was seen on BSE at around 1:10 pm on Wednesday, January 28. The shares were trading at Rs 111.80, down 1.06 per cent or Rs 1.20.
The shares started the day at Rs 113. The intraday high of the day is Rs 119.55. Whereas the low level of the day is Rs 110.40. The market cap of the company is Rs 6,498.22 crore.
Use of money raised from IPO
Under the IPO, the company had issued new shares worth Rs 1,000 crore. Apart from this, it was decided to sell 7,31,66,854 shares with face value of Rs 10 through offer for sale.
Out of the amount raised from IPO, Rs 423.43 crore will be spent on capital expenditure of network infrastructure. Whereas Rs 138.64 crore will be spent on lease payment of first mile, last mile and sort centre, Rs 88.57 crore will be spent on branding, marketing and the remaining amount will be spent on acquisitions and meeting other corporate needs.
Disclaimer: (The information provided here is being given for information only. It is important to mention here that investment in the market is subject to market risks. Always take expert advice before investing money as an investor. ABPLive.com never advises anyone to invest money here.)
Also read: Eye on Sensex re-balancing; Sensex’s door may open for this company, decision will be taken in June