Shadowfax Set to Make a Major Move with Confidential IPO Filing

Shadowfax, a TPG-backed logistics service provider, is reportedly on the brink of filing confidential draft papers with the Securities and Exchange Board of India (SEBI) for an Initial Public Offering (IPO) that could raise up to Rs 2,500 crore. The filing, expected early next week, would leverage a confidential route allowing the company to delay public disclosure of specific details until later stages of the process.

The IPO is anticipated to be valued between Rs 2,000 and Rs 2,500 crore, featuring a mix of fresh share issues alongside offers for sale by existing shareholders. Sources reveal that the company aims to use the proceeds to enhance its capacity, stimulate growth, and make further investments in its network business. Earlier this year, Shadowfax raised funds at a valuation of approximately Rs 6,000 crore.

Based in Bengaluru and founded by IIT Delhi alumni, Shadowfax is a leading provider of logistics services in India, primarily serving the e-commerce sector. It operates a comprehensive distribution network that spans over 2,200 cities and 14,300 PIN codes, claiming a significant market share in the logistics industry.

(With inputs from agencies.)