Shadowfax, a rapidly growing logistics services startup, is gearing up to launch an initial public offering (IPO) aimed at raising between INR 2,500 to 3,000 crore. The company is targeting a valuation in the range of INR 5,000 to 8,000 crore. According to a report by The Economic Times, sources close to the matter revealed that Shadowfax's promoters and equity investors have already begun discussions with merchant bankers to advance the IPO process. This move follows Shadowfax's successful Series E funding round in February, where it secured $100 million. The round was led by TPG NewQuest, with continued support from existing investors such as Mirae Asset Venture Investments (India), Flipkart, International Finance Corporation, Nokia Growth Partners, Qualcomm, and Trifecta Capital.
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