TPG-backed logistics service provider Shadowfax Technologies will launch its Rs 1,900-crore initial public offering on Jan 20 and it will remain open till
Jan 22, 2026. The IPO comprises a fresh issue of up to equity shares of face value Rs 10 each, aggregating up to Rs 1,000 crore, and an offer for sale of up to equity shares of face value Rs 10 each, aggregating up to Rs 900 crore. The company has set IPO price band in the range of Rs 118 to Rs 124 per equity share. The IPO is a mix of fresh issue and an offer-for-sale (OFS) by existing shareholders. The company plans to utilise the proceeds of the fresh issue towards enhancing capacity, driving growth, and further investments in the company's network business, the sources said. Shadowfax is backed by marquee investors such as Flipkart, TPG, Eight Roads Ventures, Mirae Asset Ventures and Nokia Growth Funds. Several investor shareholders are participating in the Offer for Sale during the IPO. Flipkart Internet Private Limited plans to sell shares worth up to Rs 400 crore, having acquired them at a weighted average cost of Rs 43.77 per share. Eight Roads Investments Mauritius II Limited will offload shares worth up to Rs 197 crore, with an acquisition cost of Rs 11.92 per share. International Finance Corporation is selling shares worth Rs 65 crore, acquired at Rs 33.38 per share, while Qualcomm Asia Pacific Pte. Ltd. will sell shares worth Rs 65 crore, acquired at Rs 24.32 per share. Nokia Growth Partners IV, L.P. is offering shares worth Rs 59 crore at an acquisition cost of Rs 34.89 per share. NewQuest Asia Fund IV (Singapore) Pte. Ltd. will sell shares worth Rs 45 crore, acquired at Rs 56.53 per share. Mirae Asset – Naver New Growth Fund I and Mirae Asset – GS Retail New Growth Fund I are each selling shares worth Rs 37 crore, acquired at Rs 25.20 per share. At the IPO’s upper price band of Rs 124 per share, these investors stand to make significant gains, with profits ranging from nearly 2 times to over 10 times their original investment cost. In its last fundraise in February 2025, the company raised a primary and secondary capital at an approximate valuation of Rs 6,000 crore. The e-commerce segment is the major revenue contributor, accounting for around 75 per cent of the company's business and the remaining comes from quick commerce and hyperlocal deliveries. Shadowfax is India's leading logistics service provider for e-commerce express parcel and value-added services. It has a distribution network covering over 2,200 cities and more than 14,300 PIN codes. (Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money related decisions.)
