Leading logistics startup Shadowfax, which is backed by e-commerce giant Flipkart, is reportedly gearing up for a huge initial public offering (IPO). According to sources privy to the development, the company is looking to raise between Rs. 25-30 billion through the IPO, valuing the business at Rs. 50-80 billion.
Founded in 2015, Shadowfax has quickly grown to become a major player in the hyperlocal and on-demand deliveries space. Operating a fleet of over 100,000 delivery partners, the company provides delivery services for e-tailers like Flipkart and Meesho, helping them offer swift order fulfillment to customers.
This planned IPO comes after Shadowfax raised $1 billion in its Series E funding round earlier this year, led by new investor TPG NewQuest. Existing backers like Mirae Asset Ventures, Flipkart, IFC and others also participated. The fresh capital injection has powered the company's ongoing expansion efforts across new regions and service extensions.
If successful, the IPO will mark a significant milestone for Shadowfax. It will give founders Vaibhav Khandelwal and Abhishek Bansal an exit opportunity, while enabling new investors to share in the company's future growth prospects. The funds raised are expected to fuel Shadowfax's goal of building the largest logistics network in the country and solidifying its position in the booming e-commerce deliveries market.
While details regarding the IPO timeline are still under wraps, the move underlines Shadowfax's ambition to further scale its best-in-class logistics infrastructure and last-mile delivery capabilities. With e-commerce on an upward trajectory in India, the company is well-poised to play a defining role in shaping the delivery experience for millions of online shoppers nationwide.
