Upcoming IPO, July 1 -- Indian logistics and delivery service provider Shadowfax Technologies has filed a confidential draft red herring prospectus (DRHP) with the capital markets regulator, Securities and Exchange Board of India (Sebi), to raise funds from the public markets through an initial public offering (IPO).

According to people aware of the development, the company is seeking to raise between Rs.2,000 and Rs.2,500 crore, while the company is expected to be valued at nearly Rs.8,500 crore.

Shadowfax Technologies is offering a book-built public issue comprising a combination of fresh issue of equity shares and an offer for sale (OFS) component.

The company aims to use the proceeds from the fresh issue of the IPO to enhance its c...