India, Jan. 20 -- Logistics new-age tech company Shadowfax's initial public offering (IPO) opened to robust demand on Tuesday, with the issue getting subscribed 38.77% till 14:00 IST on its opening day of bidding. As of now, it has received bids for 3.45 Cr shares as against 8.91 Cr shares on offer.

Retail investors have been the most bullish on the company's IPO, subscribing their quota by over 88%. These investors have bid for 1.42 Cr shares against 1.61 Cr shares reserved for them as of now.

The portion reserved for non-institutional investors (NIIs) was subscribed 14.11, with these investors bidding for 34.12 Lakh shares against 2.42 Cr shares on offer for them.

Qualified institutional buyers' (QIBs) have also placed bids for 1.66 ...