Shadowfax IPO Watch: The company has filed a confidential Draft Red Herring Prospectus (DRHP) with SEBI. Shadowfax plans to raise between ₹2,000 and ₹2,500 crore through this IPO. Read on for more details.
Shadowfax Technologies, a logistics and delivery services company, has taken a significant step towards its Initial Public Offering (IPO). The company has confidentially filed a Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI). According to sources, the company intends to raise between ₹2,000 and ₹2,500 crore through this IPO. The current valuation of the company is estimated to be around ₹8,500 crore.
IPO Includes Fresh Issue and Offer for Sale
This IPO by Shadowfax will include both a fresh issue of shares and an offer for sale (OFS). This means that some shares will be issued directly by the company to raise capital, while some shares will be sold by existing investors. The company has stated that the DRHP has been submitted to SEBI and stock exchanges in pre-filing mode. This indicates that the company is planning to list on the main board of major stock exchanges.
Funds to be Used for Network Expansion and Growth
In its draft document, Shadowfax Technologies has stated that the funds raised from the IPO will be used for network expansion, capacity building, and accelerating growth. The company plans to strengthen its delivery system across the country to better meet the rapidly changing e-commerce demand.
E-commerce contributes 75 percent of the company's total revenue. In addition, the company is also earning good revenue from new areas like quick commerce and hyperlocal delivery. Shadowfax is working to increase its presence in both of these segments.
Strong Support from Major Investors
Shadowfax Technologies has the backing of several well-known investors. These include Flipkart, TPG, Eight Roads Ventures, Mirae Asset Ventures, and Nokia Growth Funds, among others. In February 2025, the company raised primary and secondary capital at a valuation of around ₹6,000 crore in its last funding round. This clearly shows that investors have complete confidence in the company's growth story.
Shadowfax's Network from Cities to Villages
Shadowfax has established itself as a fast and reliable delivery network across the country. It has emerged as a significant delivery partner, especially for e-commerce companies. The company's network is not only spread across major metropolitan cities but also serves small towns and villages. Shadowfax claims to cover hundreds of pin codes in the country and aims to add more areas to its network in the future.
IPO Market Sees Increased Activity, Several Companies in Line
Besides Shadowfax, several other technology and consumer companies are also preparing to launch IPOs. Specifically, Meesho and Lenskart have been mentioned. According to reports, these two companies may also file DRHPs confidentially, like Shadowfax. Meanwhile, companies like Pine Labs, Wakefit, and Curefoods are also engaged in the IPO process. They have filed DRHPs with SEBI through the normal process.
This indicates that the remaining part of 2025 could be quite eventful in terms of IPOs. Investors' interest in tech startups and rapidly growing logistics companies has also increased significantly.
Shadowfax's Grip in the E-commerce Delivery Segment
Shadowfax's biggest strength lies in its grip on e-commerce delivery. The company is known not only for on-time delivery but also uses many modern technologies keeping customer convenience in mind. It has also strengthened its presence in quick delivery and hyperlocal services like 90-minute delivery over time.
The company's strategy has been to enter fast-growing segments first and then establish its hold there. This is why investors' confidence in Shadowfax remains consistent.
Investors' Eyes on IPO Timing
Currently, the company has not made any official announcement regarding the date or time of the IPO. However, after the filing of the DRHP, it is expected in the market that Shadowfax's IPO may launch in the next few months. Information related to its price band, lot size, and share allotment will be released in due course.
