Linklaters advises on Shadowfax Technologies’ IPO in India

Linklaters has advised the book running lead managers on the INR 19.07bn initial public offering (IPO) of Shadowfax Technologies Limited, an asset light logistics platform in India. The equity shares of the company were listed on the National Stock Exchange and the BSE.

Founded in 2015, Shadowfax is India's leading logistics service provider for e-commerce, express parcel and value-added services, with an extensive distribution network covering more than 2,300 cities.

The IPO comprised a fresh issue of INR 10bn and an offer for sale of approximately INR 9.07bn, with strong anchor investment. Proceeds from the transaction will be used to strengthen the company’s logistics infrastructure, including first mile and last mile delivery centres, expanding sorting facilities, and lease related capital requirements. A portion of the proceeds will be allocated to branding, marketing, potential acquisitions, and general corporate purposes.

The Linklaters team was led by Partner and Head of India Practice Amit Singh and capital markets counsel Joseph Wolpin, with support from managing associate Kundhavi Suresh Kumar.

Linklaters has an established track record as the leading Indian capital markets practice. The team has advised on numerous high-profile equity offerings across diverse sectors, such as the recent IPOs of Vikram Solar, Travel Food Services Limited and Sai Life Sciences.