Shadowfax Technologies, a logistics company based in Bengaluru, is planning to raise up to Rs 2,000 crore (about $232 million) through an initial public offering (IPO) later this year. The company’s board has approved this plan.

The IPO will have two parts. First, the company will issue new shares worth Rs 1,000 crore. Second, existing shareholders will sell shares worth another Rs 1,000 crore.

Shadowfax was started in 2015 by Abhishek Bansal, Vaibhav Khandelwal, Praharsh Chandra, and Gaurav Jaithliya. Since then, it has become well-known for helping deliver goods for e-commerce companies, direct-to-consumer brands, and local businesses.

The company offers different types of delivery services. These include picking up and returning products, delivering packages quickly, and on-demand delivery for things like food, groceries, and medicines.

The upcoming IPO will give Shadowfax more money to grow. The company plans to use the funds to expand its services, invest in better technology, and improve its network as more people shop online in India.

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