India, Oct. 21 -- The Securities and Exchange Board of India (SEBI) has given its go ahead to logistics major Shadowfax's confidential IPO papers, over three months after the company pre-filed its DRHP.

While the exact size of the public issue is yet to be confirmed, the company's board, in June, approved the proposal to raise up to INR 2,000 Cr through the IPO. Shadowfax's proposed public issue will comprise a fresh issue of equity shares of up to INR 1,000 Cr and an offer for sale (OFS) of up to INR 1,000 Cr.

Existing shareholders such as Flipkart, Eight Roads Ventures, and NGP Capital would look to offload part of their stakes in the company via the IPO. The company is expected to seek a post-IPO valuation of around INR 8,500 Cr (abo...