Shadowfax gets SEBI nod for its ₹2,500 Cr IPO

Shadowfax got SEBI’s nod for a ₹2,500 crore IPO, including fresh equity and an OFS from Flipkart and Eight Roads Ventures. Aiming for a ₹8,500 crore valuation, up from ₹5,981 crore, it recently raised $16.8 million in Series F. Founded in 2015, it runs last-mile delivery with 1.25 lakh partners. FY24 revenue hit ₹1,885 crore, losses fell 91% to ₹11.8 crore.