Shadowfax Technologies files confidential DRHP for ₹2,500-crore IPO

Shadowfax Technologies IPO plans: Shadowfax Technologies Limited, one of India’s leading logistics service providers, has filed a confidential draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) for an initial public offering (IPO).

 

The IPO is expected to be in the range of ₹2,000–₹2,500 crore and will consist of a mix of fresh issues and an offer for sale (OFS) by existing shareholders, according to a press release. The company is likely to be valued at around ₹8,500 crore.

 

In its most recent funding round in February 2025, Shadowfax raised both primary and secondary capital at an approximate valuation of ₹6,000 crore.

 

 

Shadowfax Technologies IPO fund utilisation

 

The proceeds from the fresh issue will reportedly be used to expand capacity, accelerate growth, and invest further in the company’s network business. 

The e-commerce segment remains Shadowfax’s primary revenue driver, contributing around 75 per cent of the total business. The remaining 25 per cent comes from quick commerce and hyperlocal delivery services.

 

Shadowfax counts prominent investors among its backers, including Flipkart, TPG, Eight Roads Ventures, Mirae Asset Ventures, and Nokia Growth Funds.  Check Indogulf Cropsciences IPO Allotment Status 

Shadowfax Technologies competitors

 

Shadowfax Technologies competes with companies like Delhivery, Shiprocket, XpressBees, and LetsTransport among others.

 

About Shadowfax Technologies

 

Founded in 2015 by Abhishek Bansal and Vaibhav Khandelwal, Shadowfax Technologies is among the leading logistics and delivery service providers in India, specialising in e-commerce, hyperlocal, and quick commerce solutions. 

 

The company has built a reputation for leveraging technology and artificial intelligence (AI) to create an agile and efficient logistics network, catering to a broad range of industries and delivery requirements.

 

Shadowfax is a major player in the e-commerce logistics space, offering comprehensive end-to-end solutions for businesses. With the growing demand for faster delivery services, the company has majorly expanded its presence in the hyperlocal and quick commerce segments, enabling rapid intra-city deliveries that support grocery, pharmaceutical, and other time-sensitive services.

 

Technology remains at the core of Shadowfax’s operations. By utilising AI and automation, the company boosts route optimisation, streamlines operations, and ensures a superior customer experience. This tech-first approach allows Shadowfax to offer prompt delivery options such as same-day and next-day fulfillment, which are crucial in the fast-paced digital commerce environment.

 

With a vast logistics footprint covering over 2,200 cities and over 14,300 pincodes across India, Shadowfax has established a strong nationwide presence, enabling it to serve a wide and diverse customer base effectively. 

 

To further boost its service capabilities, Shadowfax acquired CriticaLog, a tech-driven logistics firm, in January 2025. The acquisition has strengthened Shadowfax’s position in specialised segments such as healthcare, automotive, and IT supply chains, adding greater depth to its service portfolio.