Overview
- The offer totals about Rs 1,907.27 crore, split between a Rs 1,000 crore fresh issue and a Rs 907.27 crore OFS, with anchor bidding on Jan 19 and public subscription from Jan 20–22 before an expected Jan 28 listing.
- Investor allocation is set at 75% for QIBs, 15% for NIIs, and 10% for retail investors, with shares worth Rs 5 crore reserved for employees.
- Net proceeds will fund network infrastructure, lease payments for first- and last-mile and sortation centres, brand-building and marketing, and potential inorganic acquisitions.
- Selling shareholders in the OFS include Flipkart Internet (reported up to ~Rs 400 crore), Eight Roads, Qualcomm Asia Pacific, Nokia Growth Partners, IFC, NewQuest and Mirae Asset.
- At the top end the pricing implies a valuation of roughly Rs 7,100–7,400 crore; Shadowfax reported a FY25 profit of Rs 6.4 crore and about Rs 1,800 crore revenue in H1 FY26, operating across 14,758 pincodes.