Shadowfax Technologies, backed by Flipkart and TPG, filed an updated draft red herring prospectus with India’s market regulator seeking to raise about ₹2,000 crore via a mix of fresh issue and offer-for-sale. The logistics and last-mile delivery platform said proceeds will support expansion, technology upgrades and partial deleveraging. Shadowfax processed over 436 million orders in FY25, and management stresses growth in B2B enterprise logistics alongside e-commerce fulfilment as the company targets scale before listing.