Shadowfax Appoints New Board Members Ahead of IPO

Mumbai, Jul 23 (PTI) IPO-bound Shadowfax Technologies on Wednesday said it has appointed three new members to its board as the new-age logistics firm prepares for its initial public offering (IPO).

The company has inducted two senior management personnel Praharsh Chandra (Whole-Time Director and the Chief Business Officer) and Gaurav Jaithlia (Whole-Time Director and the Head of Business Strategy), to its Board, Shadowfax said in a statement.

Their elevation reflects the company's commitment to long-term growth and business insight at the board level.

The Bengaluru-based Shadowfax has also appointed Dinkar Gupta, former Director General of the National Investigation Agency (NIA), as a non-executive independent director.


"...Having two of our senior management personnel, Praharsh Chandra and Gaurav Jaithlia, join the board along with Dinkar Gupta adds immense depth to our leadership. Together, they bring a powerful blend of institutional knowledge, strategic foresight, and governance expertise," Abhishek Bansal, Chairman, Managing Director and Chief Executive Officer of Shadowfax, said.

Early this month, Shadowfax Technologies filed an IPO through a confidential pre-filing route, with an aim to raise Rs 2,000-2,500 crore.

Shadowfax is backed by marquee investors such as Flipkart, TPG, Eight Roads Ventures, Mirae Asset Ventures and Nokia Growth Funds.

Founded in 2015, Shadowfax is a technology-led third-party logistics provider catering to e-commerce, quick commerce, food delivery and mobility segments.