Shadowfax Technologies Files for ₹2,500 Crore IPO to Boost Network and Expansion

Shadowfax Technologies, a logistics services provider is another company, which has submitted a confidential draft red herring prospectus (DRHP) to the SEBI with an intention to raise up ₹2, 500 crore in the initial public offering (IPO). It is indicated by sources that the IPO will feature a mixture of fresh issue and offer for sales (OFS) by current shareholders and the firm is believed to be valued around 8500 cr.

The Bengaluru-based company, which raised capital last in February 2025 by valuing it at approximately 6,000 crores, is likely to utilize the funds generated by the new issue to increase its operational size, fuel its business, and inject further money into the distribution network.

Shadowfax has almost 75 percent of revenue through the e-commerce business, and the remaining is through quick commerce and hyperlocal delivery. The firm has established a large distribution network with more than 2200 cities and 14300 pin codes in India being served at present.

Being backed up by marquee investors like Flipkart, TPG, Eight Roads Ventures, Mirae asset Ventures and Nokia Growth Funds, Shadowfax can be well geared up to be an impactful debutant in the IPO market as it furthers its logistic infrastructure in different parts of the country.

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