Shadowfax IPO to Open Next Week: Plans to Raise ₹1,900 Crore

Logistics services provider Shadowfax is set to launch its ₹1,900-crore initial public offering (IPO) next week and is targeting a valuation of around ₹7,400 crore, according to news reports. The company is expected to announce the price band for its maiden public issue later this week.

The proposed IPO will comprise a fresh issue of shares worth ₹1,000 crore and an offer for sale (OFS) of ₹900 crore by existing shareholders.

As part of the OFS, several prominent investors will pare their stakes, including 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.

Use of IPO Proceeds

Proceeds from the fresh issue will be used to enhance network infrastructure capacity, fund lease payments for new first-mile, last-mile and sort centres, and support branding, marketing and communication initiatives. The company also plans to deploy funds towards unidentified inorganic acquisitions and general corporate purposes.

Also Read: Upcoming IPOs This Week (Jan 12- Jan 16): Amagi Media Labs IPO and 5 SME IPO Set to Open Public Offerings

About Shadowfax

Shadowfax provides express forward parcel deliveries, reverse pickups, on-demand hyperlocal logistics, and critical logistics solutions. Shadowfax is backed by marquee investors such as Flipkart, TPG, Eight Roads Ventures, Mirae Asset Ventures, and Nokia Growth Funds. It is among India’s leading logistics service providers for e-commerce express parcel delivery and value-added services.

As of September 2025, the company’s service network covered 14,758 pin codes across India. Its client base includes horizontal and non-horizontal e-commerce players, quick commerce firms, food marketplaces, and on-demand mobility companies.

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