As per ET’s report, citing sources close to the matter, both the promoters and equity investors have already started discussions with merchant bankers for the IPO

The development comes after Shadowfax raised $100 Mn as a part of its Series E funding round led by TPG NewQuest in February

Founded in 2015 by Vaibhav Khandelwal and Abhishek Bansal, Shadowfax provides hyper-local and on-demand deliveries to businesses

Logistics services startup ShadowFax is reportedly planning to raise INR 2,500 – 3,000 Cr through an initial public offering (IPO) at a valuation of INR 5,000 – 8,000 Cr.

As per ET’s report, citing sources close to the matter, both the promoters and equity investors have already started discussions with merchant bankers for the IPO.

The development comes after Shadowfax raised $100 Mn as a part of its Series E funding round led by TPG NewQuest in February.

The round also saw participation from existing investors like Mirae Asset Venture Investments (India), Flipkart, International Finance Corporation, Nokia Growth Partners, Qualcomm and Trifecta Capital. Additionally, it facilitated a partial exit for its initial institutional investor from 2015, Eight Roads Ventures.

Founded in 2015 by Vaibhav Khandelwal and Abhishek Bansal, Shadowfax provides hyper-local and on-demand deliveries to businesses. Notably, the startup works with ecommerce platforms like Flipkart and Meesho. 

It competes against the likes of Delhivery, Ecom Express, XpressBees, LoadShare, Ripple and Pickrr. 

Shadowfax reported a net loss of INR 142.63 Cr in the fiscal year 2022-23 (FY23), down 19% year-on-year (YoY), while total income rose 42% YoY to INR 1,423 Cr.

Meanwhile, Shadowfax’s rival Ecom Express, which is a third-party logistics company is also reportedly aiming to enter the primary market with an IPO of INR 3,000 Cr. 

As per ET’s report, citing sources close to the matter, both the promoters and equity investors have already started discussions with merchant bankers for the IPO

The development comes after Shadowfax raised $100 Mn as a part of its Series E funding round led by TPG NewQuest in February

Founded in 2015 by Vaibhav Khandelwal and Abhishek Bansal, Shadowfax provides hyper-local and on-demand deliveries to businesses

Logistics services startup ShadowFax is reportedly planning to raise INR 2,500 – 3,000 Cr through an initial public offering (IPO) at a valuation of INR 5,000 – 8,000 Cr.

As per ET’s report, citing sources close to the matter, both the promoters and equity investors have already started discussions with merchant bankers for the IPO.

The development comes after Shadowfax raised $100 Mn as a part of its Series E funding round led by TPG NewQuest in February.

The round also saw participation from existing investors like Mirae Asset Venture Investments (India), Flipkart, International Finance Corporation, Nokia Growth Partners, Qualcomm and Trifecta Capital. Additionally, it facilitated a partial exit for its initial institutional investor from 2015, Eight Roads Ventures.

Founded in 2015 by Vaibhav Khandelwal and Abhishek Bansal, Shadowfax provides hyper-local and on-demand deliveries to businesses. Notably, the startup works with ecommerce platforms like Flipkart and Meesho. 

It competes against the likes of Delhivery, Ecom Express, XpressBees, LoadShare, Ripple and Pickrr. 

Shadowfax reported a net loss of INR 142.63 Cr in the fiscal year 2022-23 (FY23), down 19% year-on-year (YoY), while total income rose 42% YoY to INR 1,423 Cr.

Meanwhile, Shadowfax’s rival Ecom Express, which is a third-party logistics company is also reportedly aiming to enter the primary market with an IPO of INR 3,000 Cr.