Hyperlocal logistics provider Shadowfax has received approval from Sebi for its initial public offering, with observations issued on its pre-filing. The Flipkart-backed company is expected to file an updated DRHP soon for its Rs 2,000–2,500 crore IPO, aiming to bolster its quick-delivery services. Shadowfax reported significant revenue growth and operational profitability in FY24.
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