The initial public offering (IPO) of last-mile logistics startup Shadowfax continued to draw measured investor interest on its second day of bidding, with the issue subscribed 58% so far, according to data available with the exchanges. While the pace of subscription has improved compared to Day 1, market participants remain cautious, balancing the company’s growth story against broader volatility in equity markets and valuation considerations.
Gradual Pick-Up In Demand
On Day 2, the retail individual investor (RII) segment showed visible traction, inching closer to full subscription, while non-institutional investors (NIIs) also increased their participation. However, the qualified institu
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