Logistics startup Shadowfax is planning to raise ₹2,000 crore through an upcoming initial public offering (IPO). The offering will include a fresh issue of ₹1,000 crore and an offer for sale (OFS) worth ₹1,000 crore, as per the company’s recent filing.
Founded in 2015, Shadowfax provides last-mile delivery services across India, catering to major e-commerce, food, and pharmacy players. The Flipkart-backed startup is known for its strong tech infrastructure and nationwide delivery network. With the IPO, Shadowfax is targeting a post-issue valuation of ₹8,500 crore, a significant jump from its recent valuation of ₹5,981 crore, following an investment by Mirae Asset and Nokia Growth Partners. The company has also strengthened its leadership, appointing co-founders Gaurav Jaithlia and Praharsh Chandra as whole-time directors, along with independent directors to meet regulatory norms. The IPO proceeds will likely support Shadowfax’s expansion plans and technology upgrades, helping it solidify its position in India’s fast-growing logistics space.
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