Shadowfax Tech debuts with over 11% discount

New Delhi: Shares of logistics services provider Shadowfax Technologies Ltd ended with a discount of over 11 per cent on Wednesday against the issue price of Rs 124.The stock started trading at Rs 113, down 8.87 per cent from the issue price on the BSE.

During the day, it tanked 12 per cent to Rs 109. Shares of the company ended at Rs 109.90, registering a decline of 11.37 per cent.At the NSE, the stock made its market debut at Rs 112.60, down 9.19 per cent.

It ended at Rs 109.98, a discount of 11.30 per cent.The company's market valuation stood at Rs 6,353.68 crore.The initial public offering (IPO) of Shadowfax Technologies Ltd was subscribed 2.72 times on the final day of bidding on Thursday last week.

The price band for the IPO was fixed at Rs 118-124 per share.The IPO had a fresh issue of shares worth Rs 1,000 crore and an Offer-for-Sale (OFS) of Rs 907.27 crore by existing shareholders.