Stock Market LIVE Updates: Shadowfax eyes Rs 3,000-crore IPO

Flipkart-backed Shadowfax Technologies plans to raise Rs 2,500-3,000 crore through an initial public offering (IPO), according to sources. The company is seeking a valuation of Rs 5,000-8,000 crore and has begun talks with merchant bankers. In February, Shadowfax raised $50 million in a Series E round, valuing it at Rs 3,000 crore ($355 million). To date, it has raised about $230 million. (Source: ET Bureau)