Shadowfax Files for Rs 2,000-2,500 Crore IPO
Shadowfax, a prominent Indian logistics company, has submitted a draft red herring prospectus (DRHP) with SEBI for an Initial Public Offering (IPO). The company is targeting to raise between Rs 2,000 crore and Rs 2,500 crore, aiming for a post-issue valuation of Rs 5,500-6,000 crore.
Established in 2015, Shadowfax operates a fleet of over 1.25 lakh monthly active delivery partners. The company has raised approximately $246 million in capital so far and is now planning to conduct half of the planned offering size through a primary share sale, with the rest through an offer for sale (OFS) by existing investors. Shadowfax's IPO filing is part of a broader trend of late-stage Indian startups preparing to list on stock exchanges.
In the fiscal year 2024, Shadowfax reported operating revenue of Rs 1,885 crore, a 33.2% increase from the previous year. The company narrowed its net loss to Rs 11.8 crore and reported positive EBITDA of Rs 23 crore.
Shadowfax's IPO is expected to provide a significant boost to the company's growth and expansion plans. With a strong financial performance and a growing market, investors are likely to show keen interest in the company's public offering.
