Established in June 2016, Shadowfax Technologies Ltd has emerged as a dominant multi-modal logistics powerhouse in India, uniquely positioned as the only large-scale provider capable of integrating e-commerce, food delivery, and hyper local services. Operating an asset-light model, the company manages a vast infrastructure of 4,299 touch points and 3.5 million square feet of operational space, including 53 automated sort centers. Its diverse service suite ranges from traditional D2C express delivery to rapid “quick commerce” solutions, supported by the Shadowfax Flash app for personal courier needs.

As of September 30, 2025, Shadowfax’s network spans an impressive 14,758 pin codes, powered by a dedicated daily fleet of over 3,000 trucks and a robust workforce of approximately 205,864 active delivery partners. This extensive reach has secured a blue-chip client roster featuring industry leaders such as Flipkart, Meesho, Swiggy, Zomato, and Zepto, as well as integration with the ONDC framework. With a specialized focus on shipment consolidation and last-mile efficiency, Shadowfax serves as a critical infrastructure backbone for India’s digital economy, facilitating seamless logistics across the nation’s most prominent e-commerce and on-demand platforms.

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• Agile and customizable logistics services that enable faster go-to-market for clients.
• Largest last-mile gig-based delivery partner infrastructure.
• Network infrastructure serves as the backbone of our efficient and scalable delivery system.
• Proprietary and agile technology capabilities.
• Proven business model, with focus on profitability, while delivering healthy growth.
• Experienced management team supported by entrepreneurial founders.

The Company SHADOWFAX TECHNOLOGIES LIMITED IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:

• Funding of capital expenditure requirements of the Company in relation to the network infrastructure (Rs. 423.43 Cr.)
• Funding of lease payments for new first mile centers, last mile centers and sort centers (Rs. 138.64 Cr.)
• Funding of branding, marketing and communication costs (Rs. 88.57 Cr.)
• Unidentified inorganic acquisitions and general corporate purposes

At the upper band of IPO Rs. 124, the stock is valued at 170.39 P/E multiple. Hence, well-informed investors subscribe for medium to long term perspective.