Shadowfax Technologies Plans Rs 3,000 Crore IPO

• 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