DBT Bureau
Bengaluru, 1 April 2025
Logistics startup, Shadowfax has deleted the term ‘Private’ from its nomenclature through the approval of its board in a recently held EGM (Extraordinary General Meeting).
According to a MCA filing, its board of directors on March 6, approved the deletion of the word ‘private’ from its earlier name of ‘Shadowfax Private Technologies Ltd’.
“The company is proposing to undertake an initial public offer of the equity shares of face value of Rs 10 each of the company comprising of fresh issuance of equity shares by the company and an offer for sale of equity shares by certain existing shareholders of the company and together with the fresh issue, and list the equity shares on one or more of the stock exchanges,” the filing said.
Reportedly, the logistics company is preparing for an IPO (Initial Public Offering) valued in the range of Rs 2,500 crore- Rs 3,000 crore. The public offer will include both fresh issue issuance and an offer for sale (OFS) component.
Shadowfax posted a revenue of Rs 1,885 crore in FY24, which was 33.2% higher than previous fiscal. It also narrowed its losses to Rs 11.8 crore in FY24 from Rs 142.6 crore of losses reported in previous fiscal.
