<ul><li>Indian logistics firm Shadowfax has changed its status from a private company to a public company in preparation for its upcoming initial public offering (IPO) in 2025.</li><li>Shadowfax aims to raise between Rs 2,500–3,000 crore in its IPO and has enlisted JM Financial, Morgan Stanley, and ICICI Securities as lead bankers for the offering.</li><li>The company turned profitable at adjusted PAT metrics in FY24, with a 33% revenue growth and improved EBITDA and adjusted PAT.</li><li>In recent months, Shadowfax received $16.8 million in funding, appointed new independent directors, and acquired logistics firm CriticaLog.</li></ul>

Shadowfax gears up for IPO with public company status change

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