Shadowfax confidential filing.

Shadowfax—the Bengaluru‑based hyperlocal logistics startup backed by Flipkart, TPG, Eight Roads Ventures, Mirae Asset Ventures, Nokia Growth Partners, and others—is on the verge of filing draft IPO papers with SEBI via the confidential route within the next week . The proposed offering, set between ₹2,000–2,500 crore, will feature a fresh issue (approximately half the size) alongside an offer‑for‑sale by existing stakeholders . This infusion aims to fuel expansion of its quick‑commerce and last‑mile delivery network, part of a wider strategy to serve a growing e‑commerce landscape—where the firm already delivers 2–2.5 million packages daily across more than 2,200 cities . Valuations are pegged in the ₹5,500–8,500 crore range, depending on the source—with a base valuation near ₹6,000 crore following its earlier ₹140 crore funding round . By leveraging SEBI’s confidential filing route, Shadowfax can discreetly assess investor interest while restricting public access to draft prospectus details until closer to the listing .

This confidential IPO move signals Shadowfax’s ambitious push to solidify its leadership in India’s booming logistics and quick commerce market—and puts it on course for one of the country’s most significant upcoming IPOs in the space.

sources