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Flipkart-backed Shadowfax files for ₹2,500 crore IPO
Business Standard
|July 02, 2025
Shadowfax Technologies, a logistics firm backed by Flipkart, has filed a confidential draft red herring prospectus with market regulator Securities and Exchange Board of India (Sebi) for an initial public offering (IPO), according to people familiar with the matter.
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The offering is expected to raise between ₹2,000 crore and ₹2,500 crore through a combination of fresh issuance and an offer for sale by existing shareholders. The IPO could value the company at around ₹8,500 crore, the people said. This represents a significant premium to its February 2025 funding round valuation of approximately ₹6,000 crore, reflecting inve
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