Shadowfax Technologies IPO To Open On Jan 20 — Check Price Band
Shadowfax is backed by marquee investors such as Flipkart, TPG, Eight Roads Ventures, Mirae Asset Ventures and Nokia Growth Funds.
Logistics services provider Shadowfax is set to launch its Rs 1,900-crore initial public offering, and has announced the price band as Rs 118-Rs 124, as per Bloomberg.
The book building offer will comprise fresh issue of shares worth Rs 1,000 crore and an offer for sale (OFS) of Rs 900 crore by existing shareholders.
As a part of the OFS, Flipkart Internet, Eight Roads Investments Mauritius II Ltd, NewQuest Asia Fund IV (Singapore) Pte. Ltd, Nokia Growth Partners IV, L.P, International Finance Corporation, Mirae Asset ,Qualcomm Asia Pacific Pte. Ltd and Snapdeal founders Kunal Bahl and Rohit Kumar Bansal would offload shares.
The company proposes to utilise proceeds from the fresh issue towards funding enhancing capacity in terms of network infrastructure, funding of lease payments for new first mile, last mile, and sort centres, as well as towards branding, marketing, and communication initiatives, unidentified inorganic acquisitions, and general corporate purposes.
Shadowfax is backed by marquee investors such as Flipkart, TPG, Eight Roads Ventures, Mirae Asset Ventures and Nokia Growth Funds. It is India's leading logistics service provider for e-commerce express parcel and value-added services. It has a service network encompassing 14,758 Indian pincodes as of September 2025.
People familiar with the matter told PTI that Shadowfax is targeting a post-market valuation of about Rs 7,400 crore, lower than previous estimates of Rs 8,500 crore, in what is being positioned as a more conservative pricing approach aimed at attracting long-term institutional investors.
For the first half of FY26, Shadowfax reported a revenue of about Rs 1,800 crore, marking a 68% year-on-year increase. Its total revenue stood at Rs 2,485 crore in FY25.
The e-commerce express parcel segment is the major revenue contributor, accounting for around 70% of the company's business and around 20% of revenue comes from hyperlocal and quick commerce logistics.
(With inputs from agencies).
