Shadowfax to file IPO papers under confidential route

Hyperlocal logistics startup Shadowfax is set to file a draft prospectus for its upcoming IPO under markets regulator Sebi’s confidential route within a month, multiple people aware of the development told ET.

The initial public offering (IPO) is expected to be in the range of Rs 2,000-2,500 crore, with about half coming from fresh issue of shares, one of the persons said.

The company could be valued at around Rs 5,500-6,000 crore depending on the market conditions at the time of the listing, another person said.