Shadowfax Technologies plans ₹2,000 crore IPO
Shadowfax Technologies, a Bengaluru-based logistics startup backed by Flipkart, is looking to raise ₹2,000 crore through an IPO.
The offer includes ₹1,000 crore in new shares and a sell-off from big investors like Flipkart Internet, TPG's NewQuest Asia Fund, and Qualcomm.
Shadowfax's speedy deliveries across India
Launched in 2015, Shadowfax is all about speedy parcel deliveries—think same-day or next-day shipping—across 18,000 pin codes and 2,500+ cities in India.
In just the first half of FY2025, they handled a massive 29.4 crore orders and have been growing fast with a 50% annual growth rate.
Financials and use of funds
Shadowfax more than doubled its net profit to ₹21 crore (up 113.9%) and boosted revenue by over 68% to ₹1,805.6 crore for the six months ending September 2025.
Money raised from the IPO will help expand their delivery network, pay leases, ramp up marketing, and fund acquisitions.
ICICI Securities, Morgan Stanley India, and JM Financial are managing the process.