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InvestmentsIPOShadowfax Technologies IPO

Shadowfax Technologies IPO

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Upcoming IPO.

About the Company
Founded by Vaibhav Khandelwal and Abhishek Bansal, Shadowfax Technologies Limited is a Bengaluru-based logistics platform redefining last-mile delivery through rapid, technology-driven solutions. The company offers a comprehensive range of services, including express e-commerce parcel delivery, quick commerce (10-minute delivery), same-day and next-day fulfillment, hyperlocal delivery, and reverse logistics. Leveraging advanced technology and a strong partner network, Shadowfax ensures efficient, scalable logistics for businesses across sectors. Its robust distribution network spans over 2,200 cities and covers more than 14,300 PIN codes, positioning it as a market leader. The platform serves 3.5 million users and works with 1.4 lakh quarterly delivery partners, handling over 2 million packages daily, a testament to its operational scale and dominance in India’s logistics ecosystem.
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Founded In

2015

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CEO

Abhishek Bansal

Utilisation of Proceeds

PurposeAmount
The proceeds will primarily fund the expansion of its delivery network and operational presence across more Indian cities and PIN codes, boosting capacity and supporting rapid growth in e-commerce and quick commerce segments.-
A significant share of the IPO proceeds will be directed toward enhancing Shadowfax’s digital platform. This includes investments in AI-driven route optimization, automation, advanced security systems like SF Shield, and logistics infrastructure, aimed at improving delivery speed, accuracy, and operational efficiency across its expanding network.-
Part of the IPO proceeds will be allocated for strategic acquisitions, including the planned purchase of CriticaLog India. This move is aimed at strengthening Shadowfax’s B2B and high-value logistics capabilities while diversifying its service portfolio to cater to a broader client base.-
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  • Market Leadership in Last-Mile Delivery:: Shadowfax delivers over 2 million packages daily through India’s largest crowdsourced logistics network, covering thousands of cities and PIN codes. Its strong operational scale and technology-driven model make it a preferred partner for leading e-commerce companies in the country.
  • Rapid Revenue Growth and Profit Trajectory:: Shadowfax posted a 33% rise in FY24 operating revenue to ₹1,884 crore. It achieved EBITDA profitability with an operating profit of ₹23 crore, while net losses narrowed significantly to ₹12 crore, reflecting improved cost management and a stronger path toward overall profitability.
  • Diversified Business Model:: While e-commerce express parcels remain Shadowfax’s core revenue driver, its growing presence in quick commerce and hyperlocal services provides additional revenue streams. This broader service mix enhances resilience, positions it for multi-segment growth, and reduces exposure to risks tied to a single category.
  • Strong Institutional Backers:: Shadowfax is backed by marquee investors like Flipkart, TPG, Eight Roads Ventures, Mirae Asset, and Nokia Growth Funds. Their financial strength and strategic expertise provide a solid foundation for Shadowfax’s growth and competitiveness in India’s rapidly evolving logistics ecosystem.
  • Tech-Driven Operations:: Shadowfax leverages AI, automation, and proprietary security tools like SF Maps and SF Shield to enhance operational efficiency. These innovations enable faster, more accurate deliveries while ensuring reliability and scalability across its expansive logistics network.
  • ESG and Sustainability Focus:: Shadowfax is strengthening its ESG commitments through investments in green delivery solutions like electric vehicles and social initiatives that prioritize gig partner safety and welfare. This focus enhances its appeal to sustainability-conscious clients and aligns with global environmental and social responsibility trends.

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©2021-2025 Raise Securities Private Limited (formerly Moneylicious Securities Private Limited). All rights reserved. CIN: U74999MH2012PTC433549 Raise Securities is part of Raise Financial Services.

SEBI Stock Broker Registration No: INZ000006031 | Depository Participant (CDSL) ID: IN-DP-289-2016 | SEBI Research Analyst Registration No: INH000023357
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