Overview

• Shadowfax plans to submit draft IPO documents to SEBI via the confidential route early next week, targeting a ₹2,000–2,500 Cr fundraising.
• The public offering will include a fresh issue of shares accounting for about half of the proceeds alongside an offer-for-sale by existing stakeholders.
• Market sources project the company’s valuation between ₹5,500–6,000 Cr according to one set of estimates and around ₹8,500 Cr per another view.
• Proceeds from the fresh share sale are earmarked for capacity enhancement, network expansion and further investments in a distribution footprint covering over 2,200 cities and 14,300 PIN codes.
• Founded in 2015 by IIT Delhi alumni, Shadowfax has delivered more than one billion parcels and counts investors such as Flipkart, TPG, Eight Roads Ventures, Mirae Asset Ventures and Nokia Growth Funds.