- Flipkart-backed Shadowfax Technologies is planning an IPO to raise Rs 2,500-3,000 crore.
- Promoters and private equity investors are in initial talks with merchant bankers, seeking a valuation of Rs 5,000-8,000 crore.
- In February, Shadowfax raised $50 million in a Series E round, valuing the company at Rs 3,000 crore.
- PE funds currently own 54% of Shadowfax, with Flipkart holding 16% and founders about 20%.
- Eight Roads Ventures is the largest shareholder with a 25% stake, followed by Nokia Growth, Mirae Assets, IFC, NewQuest, and Qualcomm.
Source: [Economic Times](https://economictimes.indiatimes.com/tech/technology/logistics-company-shadowfax-eyes-rs-3000-crore-ipo/articleshow/112456584.cms)