Overview

• Shadowfax is targeting a ₹2,000–2,500 crore public issue at a post-IPO valuation of roughly ₹8,500 crore.
• The offering entails approximately ₹1,000–1,100 crore in fresh equity alongside an offer-for-sale by existing shareholders.
• ICICI Securities, JM Financial, and Morgan Stanley have been appointed as lead book-running managers for the IPO.
• In FY24, the Bengaluru-based company posted ₹1,885 crore in revenue, achieved an EBITDA of ₹23 crore, and narrowed its net loss to ₹11.8 crore.
• Proceeds from the fresh issue are earmarked for enhancing delivery capacity and expanding Shadowfax’s network of cities and pin codes.