Shadowfax Tech Shares Plunge Over 9% on Disappointing Market Debut
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News18•28-01-2026, 11:45
Shadowfax Tech Shares Plunge Over 9% on Disappointing Market Debut
- •Shadowfax Technologies Ltd shares debuted at a discount of over 9% against the issue price of Rs 124.
- •The stock opened at Rs 113 on BSE and Rs 112.60 on NSE, marking an 8.87% and 9.19% drop respectively.
- •The company's market valuation stood at Rs 6,706.35 crore post-listing.
- •Shadowfax's IPO was subscribed 2.72 times, with a price band of Rs 118-124 per share.
- •Proceeds from the fresh issue will fund network expansion, lease payments, branding, and potential acquisitions.
Why It Matters: Shadowfax Technologies experienced a significant drop in share price on its market debut.
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