<ul data-eligibleForWebStory="true"><li>Shadowfax, a hyperlocal logistics startup, has filed its draft red herring prospectus (DRHP) with SEBI confidentially to raise up to Rs 2,500 crore through an IPO.</li><li>The company aims to raise between Rs 2,000 crore and Rs 2,500 crore, with approximately half through a primary share sale and the rest via an offer for sale by existing investors such as Flipkart and Eight Roads Ventures.</li><li>Shadowfax reported improved financials, with operating revenue of Rs 1,885 crore in FY2024, a narrowed net loss, and positive EBITDA. It targets a post-issue valuation of Rs 5,500–6,000 crore.</li><li>Founded in 2015, Shadowfax has become a major player in last-mile logistics with a focus on e-commerce and on-demand delivery, operating a fleet of over 1.25 lakh monthly active delivery partners across various sectors.</li></ul>

Shadowfax files confidential DRHP with SEBI to raise up to Rs 2,500 crore through an IPO

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