Shadowfax, one of India’s fastest-growing logistics startups, has taken a significant step ahead of its IPO by appointing two senior leaders as whole-time directors on its board. Praharsh Chandra, Chief Business Officer, and Gaurav Jaithlia, Head of Business Strategy, will now play a key role in major business decisions for the company.
New Leadership to Boost Growth
Both Praharsh and Gaurav have been with Shadowfax for several years and have deep knowledge of the company. Their new leadership roles mean greater responsibilities as they steer Shadowfax towards faster and stronger growth. This move reflects the company’s readiness as it prepares to enter the stock market.
Big IPO Plans Ahead
Shadowfax has quietly filed its draft IPO papers with SEBI, India’s stock market regulator. The company aims to raise between ₹2,000 crore and ₹2,500 crore through the IPO. The funds will support expansion of services, technology upgrades, and help the company reach more cities and customers across India.
Strong Financial Performance
Shadowfax’s financial numbers before the IPO look promising. In FY24, the company grew its operating revenue by 33% to ₹1,884.8 crore and sharply reduced its net loss from ₹142.6 crore to just ₹11.8 crore. This progress signals a company that is moving closer to profitability, which is positive for potential investors.
How Shadowfax Works
Founded in 2015, Shadowfax provides logistics solutions for large e-commerce, food delivery, and quick-commerce companies, serving over 2,200 cities nationwide. Its wide network helps it compete with other established delivery firms.
Competition and Market Outlook
Shadowfax faces stiff competition from players like Delhivery, Ecom Express, and XpressBees. Delhivery is already a listed company, though its share prices have been volatile. Quick-commerce firms such as Zepto and Swiggy Instamart are also pushing rapid delivery, increasing competitive pressure.
Experts predict strong growth in India’s logistics and last-mile delivery market due to rising online shopping trends. Shadowfax plans to use IPO proceeds to enhance technology, accelerate delivery speeds, and explore new services. Its strong leadership and improving financial health will help build confidence among investors.
