Hyperlocal logistics startup Shadowfax has pre-filed its draft crimson herring prospectus (DRHP) with India's marketplace regulator, joining a growing listing of latest-age organizations which have opted for the exclusive filing route.
Shadowfax, which is backed by using Flipkart, 8 street Ventures, and TPG, amongst others, is reportedly raising around Rs 2,000 crore-2,500 crore through an preliminary public offering (IPO).
The business enterprise made a public assertion in the commercial enterprise each day monetary specific. A Reuters document said that the organisation is aiming for a valuation of Rs eight,500 crore publish-problem.
In advance this year, Shadowfax had raised around $17 million (Rs 141 crore) from Mirae Asset management and nokia increase companions, at a valuation of a little over $seven-hundred million, regulatory filings showed.
Shadowfax has raised near $250 million to date, and counts IFC, Qualcomm Ventures, and Trifecta capital as its backers. The founders preserve around 20% stake in the company, according to Tracxn.
Shadowfax become founded in 2015 by means of IIT-Delhi Alumni abhishek Bansal, Vaibhav Khandelwal, Praharsh Chandra, and Gaurav Jaithliya. It raised $one hundred million in investment in february 2024, in its biggest investment round.
As of 2024, Shadowfax stated it had a community across 2,500 cities and over 15,000 pin codes, turning in more than 2 million applications every day. It has 1.25 lakh monthly lively shipping partners and 3.5 million registered users.
In FY24, the hyperlocal logistics startup suggested an operating sales of Rs 1,885 crore. It additionally grew to become operationally worthwhile, with EBITDA (earnings before interest, tax, depreciation and amortisation) of Rs 23 crore. The enterprise's net loss drastically narrowed to Rs 11.eight crore from over Rs 142 crore in FY23.
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