Shadowfax Technologies Limited is launching its much-anticipated IPO in 2025. The total issue size is ₹2,000 crores, divided equally between fresh equity issuance and an offer for sale by existing shareholders.
- Fresh issue: ₹1,000 crores
- Offer for sale by promoters and investors: ₹1,000 crores
- Total offer size: ₹2,000 crores
Major Shareholders Selling Shares
Key selling shareholders include:
- Flipkart Internet Private Limited: ₹237.07 crores
- Eight Roads Investments Mauritius II Limited: ₹197.00 crores
- NewQuest Asia Fund IV Singapore Pte. Ltd.: ₹150.00 crores
- Nokia Growth Partners IV, L.P.: ₹100.78 crores
- International Finance Corporation: ₹83.66 crores
- Mirae Asset – Naver New Growth Fund I: ₹69.06 crores
- Mirae Asset – GS Retail New Growth Fund I: ₹68.97 crores
- Qualcomm Asia Pacific Pte. Ltd.: ₹62.42 crores
- Individual promoters Kunal Bahl and Rohit Kumar Bansal: ₹14.02 crores each
Company Business in Terms of Volume Handled
Shadowfax is a technology-driven logistics company focused on last-mile delivery across e-commerce, retail, and food sectors. The company’s strong operational volumes have propelled it towards becoming one of India’s leading delivery networks, handling millions of shipments through its platform.
Company Financials: Revenue and Profit
For FY 2024-25 (March year-end):
- Revenue from operations: ₹2,485.13 crores (up from ₹1,884.82 crores in FY 2023-24)
- Profit before tax: ₹6.06 crores
- Profit after tax: ₹6.43 crores
For the six months ended September 30, 2025:
- Revenue from operations: ₹1,805.64 crores
- Profit before tax: ₹21.04 crores
Pros of the IPO
- Strong backing from reputed investors and promoters
- Robust revenue growth reflecting increasing market penetration
- Focus on a rapidly growing Indian logistics and e-commerce market
- Technology platform enabling efficient last-mile delivery solutions
- Listing on BSE and NSE with regulatory approvals
Cons of the IPO
- Profit margins currently low relative to revenue, showing pressure on profitability
- Market risks related to logistics and e-commerce sector dynamics
- IPO being the first for the company with no existing liquid secondary market
- Potential dilution due to conversion of preference shares and ESOPs
Grey Market Premium (GMP)
The latest GMP for Shadowfax IPO shares is not officially disclosed yet and may fluctuate based on investor sentiment close to listing.
