Shadowfax Technologies Sets IPO Price Band for Rs 1,907 Crore Offering Opening January 20

Logistics provider Shadowfax Technologies has set its IPO price band at Rs 118-124 per share, with its Rs 1,907-crore public offering opening on January 20 and closing January 22. The issue comprises a Rs 1,000 crore fresh issue and a Rs 907 crore offer for sale by existing shareholders, including Flipkart. Proceeds will fund network expansion, branding, and potential acquisitions. The company's valuation is estimated at over Rs 7,100 crore at the higher end of the price band. Shadowfax also highlighted risks related to its reliance on a large, non-exclusively contracted gig delivery workforce.