Shadowfax Technologies files updated papers with SEBI for ₹2,000 crore IPO

As of March 31, 2025, Shadowfax is the fastest-growing new-age 3PL company of scale in India. Its service network spans 14,758 Indian pin codes as of September 30, 2025. Logistics service provider Shadowfax Technologies Ltd has filed its Updated Draft Red Herring Prospectus (UDRHP-I) with SEBI for an initial public offering (IPO) aggregating up to ₹2,000 crore. The offer comprises a fresh issue of equity shares worth up to ₹1,000 crore and an offer for sale of equity shares worth up to ₹1,000 crore, each with a face value of ₹10 per share. The company intends to utilise the net proceeds to fund capital expenditure for network infrastructure, lease payments for new first-mile, last-mile, and sort centres, as well as branding, marketing, communication initiatives, unidentified inorganic acquisitions, and general corporate purposes. As of March 31, 2025, Shadowfax is the fastest-growing new-age 3PL company of scale in India. Its service network spans 14,758 Indian pin codes as of September 30, 2025. The company serves a wide range of enterprise clients, including horizontal and non-horizontal e-commerce, quick commerce, food marketplaces, and on-demand mobility companies. Also Read: PhysicsWallah likely to launch ₹3,820 crore IPO in coming weeks In FY25, Shadowfax processed 436.36 million orders, achieving a CAGR of 29.77% from FY23. For the six months ended September 30, 2025, it processed 294.45 million orders, representing a CAGR of 50.11% from the same period in 2024. The company generated ₹24,851.31 million in revenue from operations in FY25 with an Adjusted EBITDA margin of 1.96%. Revenue for the six months ended September 30, 2025, reached ₹18,056.44 million with an Adjusted EBITDA margin of 2.86%. ICICI Securities Limited, Morgan Stanley India Company Private Limited, and JM Financial Limited are the Book Running Lead Managers to the issue. Also Read: NSE IPO will see light of the day: Sebi chief Tuhin Kanta Pandey Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!