Shadowfax Files Updated DRHP with SEBI for ₹2,000-Crore IPO

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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