Shadowfax Technologies Limited (“Company”) completed an initial public offer of its equity shares at a price of ₹ 124 per equity share aggregating to ₹ 19,072.69 million, comprising (i) a fresh issue aggregating to ₹ 10,000.00 million; and (ii) an offer for sale aggregating to ₹ 9,072.69 million (“IPO”).
We were the domestic legal counsel to the Company and the legal counsel to one of the selling shareholders, International Finance Corporation, which offered 5,286,212 equity shares aggregating to INR 655.49 million in the offer for sale component of the IPO.
The Equity Shares were listed on the stock exchanges on January 28, 2026.
The Company is a new-age, technology-led third-party logistics (“3PL”) company, and leverages technology to facilitate digital commerce. It serves a wide category of enterprise clients including horizontal and non-horizontal e-commerce, quick commerce, food marketplace, and on-demand mobility companies.
The book running lead managers of this deal were ICICI Securities Limited, Morgan Stanley India Company Private Limited, and JM Financial Limited.
The transaction team who advised the Company included Manshoor Nazki, Partner (Regional Co-Head – Capital Markets – South); with the assistance from Amitpal Singh, Principal Associate; Sravya Surapaneni, Senior Associate; and Surya Rajkumar, Bhaskar Kumar, Dhruv Sharma and Khadri Mohammed, Associates.
The capital markets team advising International Finance Corporation comprised of Aashima Johur, Partner; and Rishi Nandkeolyar, Abhinav Singh Chauhan, Associates.
The corporate team advising International Finance Corporation comprised of Srabanee Ghosh, Partner; and Radhika Shukla, Senior Associate.