Bengaluru-based logistics services provider Shadowfax Technologies, backed by Flipkart, TPG, and Qualcomm, has filed its Updated Draft Red Herring Prospectus (UDRHP) with SEBI on October 31, 2025, to raise up to ₹2,000 crore through an initial public offering (IPO).
IPO Structure
According to the filing, the IPO will comprise:
Fresh issue: ₹1,000 crore worth of new shares.
Offer for sale (OFS): ₹1,000 crore worth of shares to be sold by existing investors and shareholders.
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Key Selling Shareholders
The selling shareholders in the OFS include:
Flipkart Internet Pvt. Ltd. (Walmart group)
Eight Roads Investments Mauritius
TPG’s NewQuest Asia Fund
Nokia Growth Partners
International Finance Corporation (IFC)
Mirae Asset
Qualcomm
Snapdeal founders Kunal Bahl and Rohit Kumar Bansal
Company Statement
Shadowfax, founded by Abhishek Bansal and Vaibhav Khandelwal, mentioned in its public announcement on November 1 that:
“This Updated Draft Red Herring Prospectus will be available for comments, if any, for a period of at least 21 days from the date of its filing with SEBI and the Stock Exchanges.”
About the Company
Shadowfax Technologies is a technology-driven logistics services provider based in Bengaluru. The company’s business model focuses on leveraging technology for delivery and logistics efficiency, catering to diverse clients across e-commerce and other sectors.
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