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Shadowfax Technologies Ltd., a leading hyperlocal logistics startup backed by Flipkart, has filed its draft red herring prospectus (DRHP) under SEBI’s confidential pre-filing route, aiming to raise Rs 2,000–2,500 crore through fresh issuance and offer-for-sale (OFS).
💼 Funding Goals & Valuation
IPO Size: ₹2,000–₹2,500 crore
Primary fresh issue: roughly ₹1,000–1,100 crore
Remainder via OFS by existing investors
Valuation Range: Around ₹5,500–8,500 crore post-issue
Use of Funds: Expand quick-commerce, hyperlocal delivery capacity, and strengthen logistics network
🚀 Company Highlights
Strong Growth: FY24 revenue at ₹1,885 crore (+33% YoY)
Narrowing Losses: Operational net loss reduced to ₹12 crore; EBITDA turned positive at ₹23 crore
Vast Reach: Covers over 2,200 cities and 14,300+ PIN codes; 1.25 lakh+ active delivery partners
Backed by Big Names: Flipkart, TPG, Eight Roads Ventures, Mirae Asset, IFC, Nokia Growth Partners
📈 Why Confidential Filing Matters
Strategic Timing: Helps Shadowfax gauge investor sentiment and refine IPO plans without early public scrutiny
Flexibility: Filing route provides up to 18 months to finalize the offering, twice the usual time window
Trend Among Startups: Companies like Groww, boAt, Shiprocket, PhysicsWallah, and Swiggy also chose this discreet path
🧭 What to Watch Next
Final IPO Size & Price Band: Will be set closer to public launch
Institutional Appetite: High-profile backers signal strong demand from anchor and institutional investors
Market Conditions: Shadowfax timing its entry as the Indian IPO window reopens in mid‑2025
🙋 FAQ – Shadowfax IPO Highlights
1. What's the timing for the IPO?
Shadowfax has filed confidentially, leaving finalization likely later in mid to late 2025.
2. How much will Shadowfax raise?
Between Rs 2,000–2,500 crore, split roughly equally between new funding and sale of existing shares.
3. How will the funds be used?
To enhance quick‑commerce services, expand delivery capacity, and scale network operations.
4. Who are the main backers?
Flipkart, TPG, Eight Roads, Mirae Asset, International Finance Corp, Nokia Growth Partners, among others.
5. Why choose confidential filing?
It provides strategic flexibility, privacy from competitors, and an extended window to shape the IPO plan.
published on 1st July
Publisher : SMITA
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