Shadowfax, one of India’s fastest-growing logistics and last-mile delivery startups, is preparing for a major milestone. The Bengaluru-based company has confidentially filed its
Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to raise between ₹2,000 crore and ₹2,500 crore through an Initial Public Offering (IPO), according to a public notice in Financial Express.
Founded in 2015, Shadowfax offers hyperlocal delivery services across e-commerce, food, grocery, pharma, and more, enabling businesses to reach customers faster. Backed by major investors like Flipkart, the company has built a strong tech-enabled logistics network that spans across 2,500+ cities and serves more than 10 lakh orders daily. According to a Reuters report, Shadowfax is targeting a post-issue valuation of around ₹8,500 crore. The IPO plan comes on the back of strong investor confidence and steady growth in the logistics space, especially with e-commerce booming across India’s tier 2 and tier 3 cities.
As more startups head to Dalal Street, Shadowfax’s IPO move reflects a growing appetite among Indian tech companies to tap into public markets for capital expansion and deeper market penetration. The company is expected to use the IPO proceeds to strengthen its delivery infrastructure, invest in tech, and fuel future growth.
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