Shadowfax Applied sciences Ltd., a logistics service supplier backed by Flipkart, filed a confidential draft pink herring prospectus with the Securities and Alternate Board of India for an preliminary public providing.
The IPO measurement is predicted to be within the vary of Rs 2,000–2,500 crore, comprising a mixture of recent challenge and provide on the market by present shareholders. The corporate is predicted to be valued at round Rs 8,500 crore.
Shadowfax plans to utilise the proceeds from the recent challenge in direction of enhancing capability, driving progress, and additional investments within the firm’s community enterprise, as per stories.
The confidential pre-filing route permits an organization to withhold public disclosure of particulars underneath the DRHP till later phases.
The Bengaluru-based firm counts many marquee buyers, together with Flipkart, TPG, Mirae Asset Ventures, Worldwide Finance Corp. and Nokia Development Funds.
The corporate has a sturdy distribution community overlaying over 2,200 Indian cities and greater than 14,300 pin codes. The e-commerce phase is the main income contributor, accounting for round 75% of the enterprise and the remaining comes from fast commerce and hyperlocal deliveries.
In its final fundraise in February, Shadowfax was valued at Rs 6,000 crore.
The corporate was based in 2015 by IIT Delhi alumni Abhishek Bansal, Vaibhav Khandelwal, Praharsh Chandra, and Gaurav Jaithliya.
(With PTI inputs)
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