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  1. Shadowfax IPO: Flipkart-backed logistics firm taps Morgan Stanley, ICICI Securities, JM Financial for upcoming offer

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Shadowfax IPO: Flipkart-backed logistics firm taps Morgan Stanley, ICICI Securities, JM Financial for upcoming offer

Upstox

2 min read | Updated on November 27, 2024, 16:03 IST

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SUMMARY

Shadowfax is among the leading e-commerce express parcel and value-added solutions providers, with a distribution network across more than 2,500 cities and 18,000 pin codes.

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Shadowfax was founded in 2015 by Indian Institutes of Technology (IIT) Delhi alumni Abhishek Bansal, Praharsh Chandra, Vaibhav Khandelwal, and Gaurav Jaithliya.

Hyperlocal logistics startup Shadowfax, which e-commerce giant Flipkart backs, is expected to launch its initial public offering in the latter part of 2025. For this, the company has picked ICICI Securities, JM Financial and Morgan Stanley as lead bankers, Moneycontrol reported citing sources.

Shadowfax IPO size is expected to be in the range of ₹2,000 crore to ₹3,000 crore, the report said.

Recently, the Bengaluru-based company raised ₹400 crore in funding from Edelweiss Discovery Fund, high-net-worth individuals (HNIs), and domestic family offices. As per the latest round, the company is valued at ₹6,000 crore.

Shadowfax is among the leading e-commerce express parcel and value-added solutions providers, with a distribution network across more than 2,500 cities and 18,000 pin codes.

The firm also provides quality check-based reverse logistics, same-day delivery, hand-to-hand doorstep exchange, and quick commerce with 10-minute delivery.

In February, Shadowfax closed ₹850 crore round led by growth investor TPG NewQuest with participation from investors including Flipkart, Mirae Asset Venture Investments (India), Nokia Growth Partners, Trifecta Capital and International Finance Corporation.

Shadowfax was founded in 2015 by Indian Institutes of Technology (IIT) Delhi alumni Abhishek Bansal, Praharsh Chandra, Vaibhav Khandelwal, and Gaurav Jaithliya.

Kalpataru, Unimech Aerospace get SEBI approval for IPOs

Meanwhile, in another development, the market regulator, Securities and Exchange Board of India (SEBI), has given its go-ahead to real estate player Kalpataru Ltd and high-precision engineering solutions provider Unimech Aerospace and Manufacturing Ltd to raise money via initial public offerings (IPOs).

Mumbai-based Kalpataru's offer is a fresh issue of shares worth ₹1,590 crore. The money raised will be used for debt repayment and general corporate purposes.

Bengaluru-based Unimech Aerospace's ₹500 crore IPO is a mix of new equity shares worth ₹250 crore and an offer of sale component of ₹250 crore by the promoter and the promoter group.

The funds raised will be used to purchase machinery and equipment, meet working capital requirements, pay debt, and for general corporate purposes.

To learn more about IPO listings, schedules, and upcoming IPOs, visit our page.
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Upstox
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