Speculation is going around that Shadowfox choose JM Financial, Morgan Stanley, and ICICI Securities as lead bankers for its upcoming IPO. The IPO is estimated to be launched in the second half of 2025. Shadowfax has received funding from Flipkart, which has helped support its growth and expansion in the logistics sector.
Through an IPO, Flipkart-backed logistics firm Shadowfox hopes to collect ₹2,500 crore, with the final amount estimated to be between 2,000 crore and Rs 3,000 crore. This step taken by Shadowfax is expected to help it strengthen its technology and expand its reach to various customers.
Recently Shadowfax collected 400 crore through funds.
Supported by Edelweiss Discovery Fund and several high-net-worth individuals Shadowfax recently collected 400 crore funds. Another speculation said that in the latest round of funding, the company gained a valuation of Rs. 6000 crore with the hope of earning more premiums when it goes public.
Earlier in the start of 2024 Shadowfax collected 850 crores through funding so far.
Earlier in the year 2024, Shadowfax raised 850 crore rupees through funding by TPG NewQuest and from many existing investors like Mirae Asset Venture Investments (India), Flipkart, International Finance Corporation (IFC), Nokia Growth Partners, Qualcomm, and Trifecta Capital.
This funding consists of new as well as existing investors. The existing investors sold their shares by making space for the new investors, a common procedure for companies planning an IPO.
About Shadowfax:
A logistics and delivery company based in Bangalore, India, Shadowfax offers a range of services, including rapid parcel delivery, same-day and next-day delivery, doorstep-to-door exchange, Quick Commerce with 10-minute delivery, and many more. They covered more than 18,000 pin codes and had a very robust network in more than 2,500 cities. They have so far delivered more than two million packages every day. They also have a reputation for delivering packages fast typically within 30 to 60 minutes after an order is placed which is increasingly common in India these days.
