Logistics startup Shadowfax is set to take the confidential route for its proposed ₹2,500 crore IPO, joining a growing list of Indian companies opting for this method to maintain flexibility and secrecy during the regulatory review process. The confidential filing allows Shadowfax to work closely with SEBI without immediately disclosing sensitive business information to the public. The company, backed by investors like Flipkart, aims to strengthen its market position and expand operations using the proceeds from the public offering.