Shadowfax’s board approves a new wholly owned subsidiary and allots 49,098 shares under its employee stock option plan

Shadowfax Technologies Limited has told the exchanges that its board, at a meeting on 16 Oct 2026, approved two items: the incorporation of a new wholly owned subsidiary, and the allotment of 49,098 equity shares of ₹10 each to employees who exercised stock options under its Employee Stock Option Plan 2016.

The new subsidiary is yet to be incorporated, in India, and will work in logistics and other services. Its name will be as made available by the Ministry of Corporate Affairs, with the suffix “Shadowfax”, and the incorporation is subject to that office’s approval. Shadowfax will subscribe to 100% of the initial paid-up share capital in cash, at par value.

The shares allotted under the stock option plan were issued at the exercise price of ₹10 per option, realising ₹4,90,980, and they rank equally with the existing shares. The allotment raises the issued, subscribed and paid-up equity share capital from ₹5,86,94,29,900 (58,69,42,990 shares) to ₹5,86,99,20,880 (58,69,92,088 shares).

Inference

The allotment adds 49,098 shares to a base of about 58.7 crore shares, which is under 0.1% of the share capital. The money received from employees is ₹4,90,980.

The subsidiary has not been incorporated, and the filing gives no amount for its initial capital, no start date and no description of its business beyond logistics and other services. Further details would depend on later announcements.