Shadowfax Technologies, a prominent logistics service provider, has submitted updated documents with the Securities and Exchange Board of India (Sebi) aiming to secure Rs 2,000 crore through an Initial Public Offering (IPO).
The IPO is comprised of fresh shares worth Rs 1,000 crore, in addition to existing shareholders’ divestiture of shares amounting to Rs 1,000 crore, as per the updated draft red herring prospectus (UDRHP).
The Phoenix Mills Q2 profit rises 39 pc to Rs 304 cr
Notable shareholders participating in the offer for sale (OFS) include Flipkart Internet and several investment entities.
The company plans to leverage the funds from the fresh issue to bolster its network infrastructure, expand leasing for its first and last-mile operations, and allocate resources toward marketing and potential acquisitions.
