Shadowfax Sets Price Band for IPO, Eyes Over Rs 7,100 Crore Valuation

Shadowfax, a leading logistics services provider, is preparing for its IPO, setting a price band of Rs 118 to Rs 124 per share. The IPO is expected to raise Rs 1,907 crore. Proceeds will be used to enhance infrastructure and expand operations. The company reported significant revenue growth year-on-year.

Shadowfax, a prominent name in logistics services, has announced the price band for its much-anticipated IPO, ranging from Rs 118 to Rs 124 per share. The move values the company at over Rs 7,100 crore, a strategic positioning to attract long-term institutional investors.

The IPO, opening for public investment on January 20 and closing on January 22, comprises a fresh issue worth Rs 1,000 crore coupled with an offer for sale of Rs 907.27 crore. Existing shareholders, including major companies and notable entrepreneurs, will offload shares as part of the offering.

The logistics firm plans to use the IPO proceeds to boost its infrastructure and branding, along with potential acquisitions. Significant growth has been reported, with revenue increases in its e-commerce express parcel sector contributing majorly to its financial status.

(With inputs from agencies.)