IPO
UHM Vacation IPO Details
Last Updated on June 3, 2026 UHM Vacation Ltd. IPO Incorporated in 2009, UHM Vacation Ltd is a B2B travel and tourism aggregator that offers a wide range of travel
June 3, 2026
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Shadowfax Technologies Ltd. IPO
Incorporated in June 2016, Shadowfax Technologies Ltd is a logistics solution provider company in India. The company offers e-commerce express parcel delivery and a suite of value-added offerings.
Its service offerings include e-commerce and D2C delivery, hyperlocal & quick commerce within hours or same day, and SMS & personal courier services through Shadowfax’s Flash app.
The company’s nationwide logistics network includes 4,299 touchpoints across first- and last-mile centres and sort centres as of September 30, 2025, serving 14,758 pin codes. It is supported by over 3.50 million sq ft of operational space, including 53 sort centres covering 1.80 million sq ft, for shipment consolidation, sorting, and dispatch.
The company leases its logistics facilities and linehaul, owning automation and machinery for control.
It operates a dedicated fleet of over 3,000 trucks daily as part of its asset-light linehaul network.
As of September 30, 2025, the company’s platform had 205,864 Average Quarterly Unique Transacting Delivery Partners.
The company’s clients include Meesho, Flipkart, Myntra, Swiggy, Bigbasket, Zepto, Nykaa, Blinkit, Kartrocket, Zomato, Uber, Pincode, Purplle, Licious, ONDC, Magicpin, among others. This makes them the only large-scale provider for last-mile and end-to-end e-commerce delivery, as well as quick commerce, food delivery, and hyperlocal services.
By September 30, 2025, the company’s e-commerce logistics network spanned 14,758 pin codes throughout India.
As of September 30, 2025, the company had 4,472 permanent employees and 17,182 contract workers.
Competitive Strength:
- Agile and customisable logistics services that enable faster go-to-market for clients.
- Largest last-mile gig-based delivery partner infrastructure.
- Network infrastructure serves as the backbone of our efficient and scalable delivery system.
- Proprietary and agile technology capabilities.
- Proven business model, with focus on profitability, while delivering healthy growth.
- Experienced management team supported by entrepreneurial founders.
Company Financials (Restated Consolidated)
| Period Ended | 30 Sep 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets | 1,453.16 | 1,259.26 | 786.14 | 442.73 |
| Total Income | 1,819.80 | 2,514.66 | 1,896.48 | 1,422.89 |
| Profit After Tax | 21.04 | 6.06 | -11.88 | -142.64 |
| EBITDA | 64.34 | 56.19 | 11.37 | -113.47 |
| NET Worth | 693.53 | 660.43 | 421.78 | 176.32 |
| Reserves and Surplus | 281.26 | 248.16 | 172.47 | 171.20 |
| Total Borrowing | 147.44 | 132.23 | 40.33 | 66.69 |
| Amount in ₹ Crore | ||||
IPO Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Funding of capital expenditure requirements of the Company in relation to the network infrastructure | 423.43 |
| 2 | Funding of lease payments for new first mile centers, last mile centers and sort centers | 138.64 |
| 3 | Funding of branding, marketing and communication costs | 88.57 |
| 4 | Unidentified inorganic acquisitions and general corporate purposes |
Key Performance Indicator (KPI)
| KPI | Sep 30, 2025 | Mar 31, 2025 |
|---|---|---|
| Debt/Equity | 0.21 | 0.20 |
| RoNW | 3.03 | 0.97 |
| EBITDA Margin | 2.86 | 1.96% |
| Price to Book Value | 8.97 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 0.12 | 0.73 |
| P/E (x) | 1017.96 | 170.39 |
Shadowfax Technologies IPO Details
| IPO Date | 20 to 22 Jan, 2026 |
| Listing Date | Wed, Jan 28, 2026T |
| Face Value | ₹10 per share |
| Price Band | ₹118 to ₹124 |
| Lot Size | 120 Shares |
| Sale Type | Fresh Capital & OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 15,38,12,096 shares (agg. up to ₹1,907 Cr) |
| Fresh Issue | 8,06,45,161 shares (agg. up to ₹1,000 Cr) |
| Offer for Sale | 7,31,66,935 shares of ₹10 (agg. up to ₹907 Cr) |
| Share Holding Pre Issue | 49,74,88,085 shares |
| Share Holding Post Issue | 57,81,33,246 shares |
Shadowfax Technologies IPO Promoter Holding
The promoters of the Company are Abhishek Bansal and Vaibhav Khandelwal.
| Share Holding Pre Issue | 19.13% |
| Share Holding Post Issue |
SHARIAH SCREENING for - Shadowfax Technologies Ltd. IPO
BUSINESS SCREEN
FINANCIAL RATIOS
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