Shadowfax Technologies Limited files Confidential DRHP for Rs. 2,500 crore IPO with SEBI
Shadowfax Technologies Limited, India’s leading logistics service provider has filed a confidential draft red herring prospectus with SEBI for an initial public offering.
As per sources, the IPO size is expected to be in the range of Rs. 2,000 – Rs. 2,500 crore, comprising of a mix of fresh issue and offer for sale (OFS) by existing shareholders. The company is expected to be valued around Rs. 8,500 crore.
In its last fundraise in February 2025, the company raised a primary and secondary capital at an approximate valuation of Rs. 6,000 crore.
The company plans to utilize the proceeds the fresh issue towards enhancing capacity, driving growth, and further investments in the company’s network business, according to sources.
The e-commerce segment is the major revenue contributor, accounting for around 75% of the business. The remaining comes from quick commerce and hyperlocal deliveries.
Shadowfax is backed by marquee investors such as Flipkart, TPG, Eight Roads Ventures, Mirae Asset Ventures and Nokia Growth Funds.
Shadowfax stands as India’s leading logistics service provider for e-commerce express parcel and value-added services. With a robust distribution network covering over 2,200+ cities and more than 14,300 PIN codes, Shadowfax has established itself as a market leader in the logistics industry.