Shadowfax gets SEBI nod for ₹2,500 crore IPO
Shadowfax Technologies, the logistics company supported by Flipkart and Mirae Asset, just got SEBI's approval to go public.
While the IPO was initially expected to raise up to ₹2,500 crore, the green light is currently for ₹2,000-2,500 crore.
The company joins a wave of Indian tech startups aiming to list this year.
Shadowfax's rapid growth and future plans
Shadowfax runs same-day and quick-delivery services across 2,500 cities and 18,000 pin codes in India.
In FY24, it pulled in ₹1,884 crore in revenue—a 33% jump from last year—while slashing net losses by 92% to ₹12 crore.
With the IPO funds, Shadowfax plans to boost its fast-delivery network even further.
A wave of tech IPOs in India
Shadowfax is part of a growing list of tech-driven Indian companies, like PhysicsWallah and Meesho, looking to hit the stock market in 2025.
If you're curious about the future of fast deliveries, this IPO is one to watch.