19 Jan 2026 | 5 Mins Read
Shadowfax's high valuation compared to peers Delhivery and Blue Dart
Flipitmoney
Shadowfax Technologies' maiden issue opens for subscription on January 20th with a valuation of 1,018x FY25 earnings, much higher than peers Blue Dart Express and Delhivery. The 3PL e-commerce market is dominated by a few players, with Shadowfax as the fastest-growing third-party logistics company in India, expanding its e-commerce shipment market share to approximately 23% as of H1FY26.