Shadowfax preps IPO filing; O-1A over H-1B

Time of India

2 days ago

Shadowfax preps IPO filing; O-1A over H-1B
Also in the letter:
Shadowfax to file IPO papers under confidential route
Key details:
Shadowfax's IPO is expected to be Rs 2,000–2,500 crore in size.
Fresh capital is expected to form half of the proceeds.
Shadowfax is eyeing a valuation of Rs 5,500–6,000 crore, subject to market conditions.
ICICI Securities, JM Financial and Morgan Stanley are bankers for the issue.
Use of proceeds:
Shadowfax, at a glance:
Quick commerce and hyperlocal deliveries contribute 25–30% of Shadowfax's revenue, a share expected to rise to 35–40%.
The remainder comes from ecommerce and D2C logistics, particularly same-day deliveries.
Clients include Nykaa, Ajio, Flipkart, and Meesho.
Shadowfax is also a key logistics partner for the Open Network for Digital Commerce (ONDC).
JSW One eyes public listing in 18–24 months
IPO momentum:
JSW One, at a glance:
Founded in 2020 by Sachdeva and JSW Group scion Parth Jindal, JSW One handles 2.4 million metric tonnes of steel annually, accounting for about 1.6% of India's total steel supply.
It currently processes a monthly gross merchandise value (GMV) of Rs 1,400 crore.
Revenue rose 4.2x to Rs 1,421.9 crore in FY24, up from Rs 338.8 crore a year earlier.
However, net losses widened to Rs 277 crore from Rs 83.8 crore, according to Tracxn data.
The company entered the unicorn club earlier this year after raising Rs 340 crore from Principal Asset Management, OneUp and JSW Steel, valuing it at $1 billion.
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Who is selling?
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What is O-1A visa?
Pros & cons:
Versus H-1B:
Cost: O-1A applications range from $10,000–$30,000. H-1Bs are more affordable, starting at $970, but legal fees can increase to $7,775 with premium processing. Attorney fees add $2,000–$5,000.
O-1A applications range from $10,000–$30,000. H-1Bs are more affordable, starting at $970, but legal fees can increase to $7,775 with premium processing. Attorney fees add $2,000–$5,000. Popularity: While 225,957 H-1B visas were approved in FY24, just 22,669 O-1As made the cut. But the latter is growing fast, clocking nearly 10% annual growth.
While 225,957 H-1B visas were approved in FY24, just 22,669 O-1As made the cut. But the latter is growing fast, clocking nearly 10% annual growth.
Approval rate: O-1As enjoy a 93% approval rate. H-1Bs offer just 37%.
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Fashion bet:
Quote, unquote:
Beauty engine:
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AI play:
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