India, Jan. 22 -- Logistics major Shadowfax's IPO was subscribed 67% as of 12:25 IST on the third day of bidding. The public issue received bids for 5.98 Cr shares against 8.9 Cr shares on offer.

Retail investors continued to lead in terms of subscription, placing bids for 3.06 Cr shares against 1.61 Cr reserved for them. This translated to an oversubscription of 1.9X.

Similarly, the portion reserved for employees was oversubscribed 1.69X, getting bids for 7.17 Lakh shares against 4.23 Lakh shares on offer.

However, the portion reserved for qualified institutional buyers (QIBs) and non-institutional investors (NIIs) was undersubscribed. QIBs placed bids for 1.82 Cr shares against 4.83 Cr shares reserved for them, translating to a 37.8%...