Shadowfax Technologies Gears Up for an IPO in Confidential Mode
Logistics service provider Shadowfax Technologies is set to launch an IPO through a confidential pre-filing route, aiming to raise Rs 2,000-2,500 crore. The company, valued at around Rs 8,500 crore, will use proceeds to enhance capacity and growth. Its e-commerce sector contributes 75% of revenue.
- Country:
- India
Shadowfax Technologies, a leading logistics service provider, has initiated the process for an initial public offering (IPO) through a confidential pre-filing. The IPO aims to gather between Rs 2,000-2,500 crore, positioning the company at a valuation close to Rs 8,500 crore, according to industry insiders.
The IPO will comprise a combination of a fresh issue of shares and an offer-for-sale (OFS) by current shareholders. Shadowfax stated they have 'pre-filed draft red herring prospectus with Sebi and stock exchanges', preparing for its equity shares to be listed on the main stock exchanges.
The company plans to allocate proceeds towards expanding its capacities and investments in the network business. Backed by investors like Flipkart and Nokia Growth Funds, Shadowfax's revenue heavily relies on e-commerce, contributing to 75% of its operations. This is part of a larger trend of companies utilizing the confidential pre-filing route to maintain flexibility in IPO strategies.
(With inputs from agencies.)
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