Mumbai: Shadowfax Technologies, India’s leading third-party logistics and last-mile delivery platform, has confidentially filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an anticipated initial public offering (IPO) valued between ₹2,000 crore and ₹2,500 crore.
According to market sources, the IPO will be a combination of a fresh issue of shares and an Offer for Sale (OFS) by existing stakeholders. The company is currently valued at approximately ₹8,500 crore, a sharp rise from its last fundraising valuation of ₹6,000 crore in February 2025.
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Strategic Use of Shadowfax Technologies IPO Proceeds
Proceeds from the fresh issue will be deployed towards enhancing delivery capacity, driving growth, and investing in the company’s national logistics infrastructure, reinforcing Shadowfax’s position as a market leader in tech-enabled logistics.
E-Commerce Powers Revenue Engine
The company derives nearly 75% of its revenue from the e-commerce segment, with the remainder split across quick commerce and hyperlocal delivery services.
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This robust business model, coupled with a nationwide distribution network spanning 2,200+ cities and 14,300+ PIN codes, has made Shadowfax a go-to partner for major marketplaces and direct-to-consumer brands.
Backed by Global Investors
Shadowfax Technologies enjoys strong backing from marquee investors, including Flipkart, TPG, Eight Roads Ventures, Mirae Asset Ventures, and Nokia Growth Funds.
Their continued support underscores confidence in Shadowfax’s scalable logistics platform and its potential to dominate India’s rapidly expanding last-mile delivery ecosystem.
The IPO marks a pivotal moment for Shadowfax Technologies as it seeks to capitalize on India’s booming e-commerce and on-demand logistics markets.
