Aequitas Research

Hong Jie Seow

Independent Insight Provider

IPOs and Placements coverage across Asia Pacific

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Equity Capital Markets

Shadowfax Technologies / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/shadowfax-technologies" target="_blank" data-smartkarma-citation="entities:46010:1" rel="noopener">Shadowfax Technologies (1310315D IN)</a> is looking to raise about US$225m in its upcoming India IPO. The deal will be run by Morgan Stanley, ICICI and JM Financial.</li>
<li>Shadowfax Technologies is a new-age, technology-led third-party logistics (3PL) company that leverages a unified platform to facilitate digital commerce across India.</li>
<li>The company provides a comprehensive suite of logistics services organised across express, hyperlocal, and other logistics segments.</li>
</ul>



Shadowfax Technologies (1310315D IN) is looking to raise about US$225m in its upcoming India IPO. The deal will be run by Morgan Stanley, ICICI and JM Financial.
Shadowfax Technologies is a new-age, technology-led third-party logistics (3PL) company that leverages a unified platform to facilitate digital commerce across India.
The company provides a comprehensive suite of logistics services organised across express, hyperlocal, and other logistics segments.


Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

<ul>
<li>Aequitas Research's weekly update on the IPOs, placements, lockup expiry and other ECM linked events that were covered by the team over the past week.</li>
<li>On the IPO front, all markets were in full throttle mode going into the year end.</li>
<li>On the placements front, there were a number of deals across the region.</li>
</ul>


Aequitas Research's weekly update on the IPOs, placements, lockup expiry and other ECM linked events that were covered by the team over the past week.
On the IPO front, all markets were in full throttle mode going into the year end.
On the placements front, there were a number of deals across the region.


ECM Weekly (17 November 2025) -Softcare, Northsand, Human Made, Lenskart, Pine Labs, Klook, Sagility

India

Shadowfax Technologies is a new-age, technology-led third-party logistics (3PL) company that leverages a unified platform to facilitate digital commerce across India. 

Its service network covers 14,758 pin codes as of September 30, 2025, enabling the company to serve a wide spectrum of enterprises across horizontal and non-horizontal e-commerce, quick commerce, food marketplace, and on-demand mobility.

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Shadowfax Technologies (1310315D IN)

Shadowfax Technologies Pre-IPO Tearsheet

Shadowfax Technologies plans to raise US$225m in India IPO, led by Morgan Stanley, ICICI, and JM Financial. The new-age logistics company uses...

Hong Jie Seow

ECM Weekly (17 November 2025) -Softcare, Northsand, Human Made, Lenskart, Pine Labs, Klook, Sagility

Aequitas Research's weekly update on the IPOs, placements, lockup expiry and other ECM linked events that were covered by the team over the past week.

Sumeet Singh

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Shadowfax Technologies Pre-IPO Tearsheet

​Shadowfax Technologies plans to raise US$225m in India IPO, led by Morgan Stanley, ICICI, and JM Financial. The new-age logistics company uses...

Hong Jie Seow

ECM Weekly (17 November 2025) -Softcare, Northsand, Human Made, Lenskart, Pine Labs, Klook, Sagility

Aequitas Research's weekly update on the IPOs, placements, lockup expiry and other ECM linked events that were covered by the team over the past week.

Sumeet Singh

Shadowfax Technologies plans to raise US$225m in India IPO, led by Morgan Stanley, ICICI, and JM Financial. The new-age logistics company uses...