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India’s Shadowfax slips on listing, as client concentration spooks investors | TechCrunch

India’s Shadowfax slips on listing, as client concentration spooks investors | TechCrunch

Shadowfax stumbled in its market debut, with shares falling as investors weighed concerns about the logistics firm’s heavy reliance on a handful of large e-commerce clients. The company raised about ₹19.07 billion (about $208.24 million) in its initial public offering.

The shares fell about 9% from the offer price of ₹124 to ₹112.60 on Wednesday, valuing the Bengaluru-based logistics firm at roughly ₹64.7 billion (about $706.58 million) on debut, roughly matching its last private valuation of close to ₹60 billion (roughly $655.01 million) in early 2025. The offering, priced in a band of ₹118–124 per share, combined a fresh issue with an offer-for-sale by existing shareholders and was subscribed nearly three times over.

Founded in 2015, Shadowfax operates as a third-party logistics provider, handling last-mile and intra-city deliveries for e-commerce marketplaces, quick-commerce platforms and consumer internet companies across India. The company counts e-commerce players including Flipkart and Meesho, as well as quick-commerce and food delivery platforms Zepto and Zomato, among its largest clients, which together account for about 74% of its revenue, according to its prospectus. Its key shareholders include Flipkart, TPG NewQuest, Qualcomm, and the World Bank-backed International Finance Corporation.

Shadowfax’s listing comes as the e-commerce and quick-commerce sectors continue to expand in India, driven by rising internet penetration, urbanization, and demand for faster deliveries. Platforms offering same-day or rapid fulfillment have increasingly leaned on third-party logistics providers to scale nationally, placing companies like Shadowfax at the centre of the country’s consumer internet supply chain.

The offering includes shares sold by some early and institutional backers, including Flipkart, Eight Roads Ventures, Nokia Growth Partners, Qualcomm, and Mirae Asset. Founders Abhishek Bansal and Vaibhav Khandelwal are not participating in the offer-for-sale and will together retain about 20% of the company after listing.

“We don’t see this IPO as a destination,” said Bansal, Shadowfax’s co-founder and CEO, during its IPO launch ceremony in Mumbai. “We are not building this for the next quarter. We are building this for the next century. Today, we don’t ring a bell. We are waking up to a new set of possibilities.”

In the six months ended September 2025, Shadowfax reported revenue from operations of ₹18.06 billion (about $197.12 million), up 68% from the same period a year earlier, per its prospectus. The company’s profit more than doubled year over year to ₹210.37 million (around $2.30 million), reflecting higher delivery volumes, though earnings remain closely tied to demand from a small group of large platform clients.

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Shadowfax plans to use proceeds from the fresh issue to fund capital expenditure for its network infrastructure, pay lease costs for new first-mile, last-mile and sorting centres, and meet branding, marketing and communication expenses, its prospectus said. A portion of the proceeds will also be kept for inorganic acquisitions and general corporate purposes.

The company currently operates around 3.5 million square feet of logistics infrastructure across 14,700 pin codes nationwide.

Shadowfax’s IPO comes more than three years after its larger rival, Delhivery, went public in 2022. Delhivery reported revenue of about ₹89.3 billion (around $974.84 million) in the year ended March 2025, with year-over-year growth in the low teens, underscoring the contrast with Shadowfax’s faster expansion.

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#Indias #Shadowfax #slips #listing #client #concentration #spooks #investors #TechCrunch

With clear skies tonight, you’ll be able to pick out a few details on the Moon’s surface. But what exactly are you looking at? With the help of NASA’s Daily Moon Guide, we have the answers.

What is today’s Moon phase?

As of Friday, June 5, the Moon phase is Waning Gibbous. Tonight, 79% of the moon will be be lit up, according to NASA’s Daily Moon Guide.

Without visual aids you should be able to spot the Mares Imbrium and Vaporum as well as the Tycho Crater . If you have binoculars you’ll also spot the Grimaldi Basin, and the Gassendi and Alphonsus Craters. And finally, with a telescope you’ll also see the Apollo 16 landing spot and the Caucasus Mountains.

When is the next Full Moon?

The next Full Moon will take place on June 29.

What are Moon phases?

NASA explains that the Moon completes one full orbit around Earth in about 29.5 days, during which it moves through a sequence of eight phases. Even though the same side of the Moon always faces us, the amount of sunlight we can see changes as it travels along its path. This shifting light is what produces the lunar shapes, ranging from slim crescents to half-lit Moons and the bright Full Moon. All of these stages together make up the lunar cycle:

New Moon – The Moon is between Earth and the sun, so the side we see is dark (in other words, it’s invisible to the eye).

Waxing Crescent – A small sliver of light appears on the right side (Northern Hemisphere).

First Quarter – Half of the Moon is lit on the right side. It looks like a half-Moon.

Waxing Gibbous – More than half is lit up, but it’s not quite full yet.

Full Moon – The whole face of the Moon is illuminated and fully visible.

Waning Gibbous – The Moon starts losing light on the right side. (Northern Hemisphere)

Third Quarter (or Last Quarter) – Another half-Moon, but now the left side is lit.

Waning Crescent – A thin sliver of light remains on the left side before going dark again.

#Moon #phase #today #explained #Moon #June">Moon phase today explained: What the Moon will look like on June 5, 2026
                                                            With clear skies tonight, you’ll be able to pick out a few details on the Moon’s surface. But what exactly are you looking at? With the help of NASA’s Daily Moon Guide, we have the answers.What is today’s Moon phase?As of Friday, June 5, the Moon phase is Waning Gibbous. Tonight, 79% of the moon will be be lit up, according to NASA’s Daily Moon Guide.Without visual aids you should be able to spot the Mares Imbrium and Vaporum as well as the Tycho Crater . If you have binoculars you’ll also spot the Grimaldi Basin, and the Gassendi and Alphonsus Craters. And finally, with a telescope you’ll also see the Apollo 16 landing spot and the Caucasus Mountains.
When is the next Full Moon?The next Full Moon will take place on June 29.What are Moon phases?NASA explains that the Moon completes one full orbit around Earth in about 29.5 days, during which it moves through a sequence of eight phases. Even though the same side of the Moon always faces us, the amount of sunlight we can see changes as it travels along its path. This shifting light is what produces the lunar shapes, ranging from slim crescents to half-lit Moons and the bright Full Moon. All of these stages together make up the lunar cycle:New Moon – The Moon is between Earth and the sun, so the side we see is dark (in other words, it’s invisible to the eye).
        
            Mashable Light Speed
        
        
    
Waxing Crescent – A small sliver of light appears on the right side (Northern Hemisphere).First Quarter – Half of the Moon is lit on the right side. It looks like a half-Moon.Waxing Gibbous – More than half is lit up, but it’s not quite full yet.Full Moon – The whole face of the Moon is illuminated and fully visible.Waning Gibbous – The Moon starts losing light on the right side. (Northern Hemisphere)Third Quarter (or Last Quarter) – Another half-Moon, but now the left side is lit.Waning Crescent – A thin sliver of light remains on the left side before going dark again.

                    
                                    #Moon #phase #today #explained #Moon #June

NASA’s Daily Moon Guide, we have the answers.

What is today’s Moon phase?

As of Friday, June 5, the Moon phase is Waning Gibbous. Tonight, 79% of the moon will be be lit up, according to NASA’s Daily Moon Guide.

Without visual aids you should be able to spot the Mares Imbrium and Vaporum as well as the Tycho Crater . If you have binoculars you’ll also spot the Grimaldi Basin, and the Gassendi and Alphonsus Craters. And finally, with a telescope you’ll also see the Apollo 16 landing spot and the Caucasus Mountains.

When is the next Full Moon?

The next Full Moon will take place on June 29.

What are Moon phases?

NASA explains that the Moon completes one full orbit around Earth in about 29.5 days, during which it moves through a sequence of eight phases. Even though the same side of the Moon always faces us, the amount of sunlight we can see changes as it travels along its path. This shifting light is what produces the lunar shapes, ranging from slim crescents to half-lit Moons and the bright Full Moon. All of these stages together make up the lunar cycle:

New Moon – The Moon is between Earth and the sun, so the side we see is dark (in other words, it’s invisible to the eye).

Waxing Crescent – A small sliver of light appears on the right side (Northern Hemisphere).

First Quarter – Half of the Moon is lit on the right side. It looks like a half-Moon.

Waxing Gibbous – More than half is lit up, but it’s not quite full yet.

Full Moon – The whole face of the Moon is illuminated and fully visible.

Waning Gibbous – The Moon starts losing light on the right side. (Northern Hemisphere)

Third Quarter (or Last Quarter) – Another half-Moon, but now the left side is lit.

Waning Crescent – A thin sliver of light remains on the left side before going dark again.

#Moon #phase #today #explained #Moon #June">Moon phase today explained: What the Moon will look like on June 5, 2026

With clear skies tonight, you’ll be able to pick out a few details on the Moon’s surface. But what exactly are you looking at? With the help of NASA’s Daily Moon Guide, we have the answers.

What is today’s Moon phase?

As of Friday, June 5, the Moon phase is Waning Gibbous. Tonight, 79% of the moon will be be lit up, according to NASA’s Daily Moon Guide.

Without visual aids you should be able to spot the Mares Imbrium and Vaporum as well as the Tycho Crater . If you have binoculars you’ll also spot the Grimaldi Basin, and the Gassendi and Alphonsus Craters. And finally, with a telescope you’ll also see the Apollo 16 landing spot and the Caucasus Mountains.

When is the next Full Moon?

The next Full Moon will take place on June 29.

What are Moon phases?

NASA explains that the Moon completes one full orbit around Earth in about 29.5 days, during which it moves through a sequence of eight phases. Even though the same side of the Moon always faces us, the amount of sunlight we can see changes as it travels along its path. This shifting light is what produces the lunar shapes, ranging from slim crescents to half-lit Moons and the bright Full Moon. All of these stages together make up the lunar cycle:

New Moon – The Moon is between Earth and the sun, so the side we see is dark (in other words, it’s invisible to the eye).

Waxing Crescent – A small sliver of light appears on the right side (Northern Hemisphere).

First Quarter – Half of the Moon is lit on the right side. It looks like a half-Moon.

Waxing Gibbous – More than half is lit up, but it’s not quite full yet.

Full Moon – The whole face of the Moon is illuminated and fully visible.

Waning Gibbous – The Moon starts losing light on the right side. (Northern Hemisphere)

Third Quarter (or Last Quarter) – Another half-Moon, but now the left side is lit.

Waning Crescent – A thin sliver of light remains on the left side before going dark again.

#Moon #phase #today #explained #Moon #June

When the company originally announced the Machine and Frame alongside its new Steam Controller late last year, it said that it would start shipping the new gadgets in early 2026. But in February, the company announced that the ongoing memory and storage crunch had forced it to revisit its pricing and shipping plans. And in March, Valve said in a blog post that it would be “shipping all three products this year” — though that was after the company initially said in the post that “we hope to ship in 2026,” which it removed in an update.

Valve opted to release the Steam Controller on its own, putting it up for sale in early May. For the Machine and Frame, while “summer” isn’t exactly a specific date, it narrows the window for when the products might finally come out.

Ahead of actually launching the devices, Valve is redesigning the Steam store and sharing information about the Verified programs for the hardware so that developers can prepare their games. Like with the Steam Deck, if a game is verified for the Machine or the Frame, the badge signals that the game should work well without any tweaks from the user.

For the Machine, the requirements for a game to be verified are “nearly identical” to what they are for the Steam Deck. With the Machine being “roughly six times as powerful” as the Deck, in theory, many more games will be verified for it. Valve also says that it’s testing “every title on Machine that fell below our performance requirements on Deck.”

For the Frame, Valve’s verified badge will signify games that run well while being played natively on the headset — as opposed to games that work well streamed to the headset, which the Frame is also capable of. “Like Steam Deck Verified, the Steam Frame Standalone Verified program focuses on the experience customers will have with the device out-of-the-box in standalone mode,” Valve says.

Now, we just need Valve to share exactly when the Steam Machine and Steam Frame will be released and how much they might cost. After last week’s price hikes for the Steam Deck, I’m gearing up for sticker shock.

#Valve #ready #launch #Steam #Machine #summerEntertainment,Gaming,News,PC Gaming">Valve says it’s ready to launch the Steam Machine this summerValve now says that the delayed Steam Machine PC and Steam Frame VR headset are set to launch sometime this summer. In a Thursday blog post detailing its Verified programs for both pieces of hardware, Valve concludes by saying that “We’re excited for players to try your titles on the new Steam hardware once they launch this summer.”When the company originally announced the Machine and Frame alongside its new Steam Controller late last year, it said that it would start shipping the new gadgets in early 2026. But in February, the company announced that the ongoing memory and storage crunch had forced it to revisit its pricing and shipping plans. And in March, Valve said in a blog post that it would be “shipping all three products this year” — though that was after the company initially said in the post that “we hope to ship in 2026,” which it removed in an update.Valve opted to release the Steam Controller on its own, putting it up for sale in early May. For the Machine and Frame, while “summer” isn’t exactly a specific date, it narrows the window for when the products might finally come out.Ahead of actually launching the devices, Valve is redesigning the Steam store and sharing information about the Verified programs for the hardware so that developers can prepare their games. Like with the Steam Deck, if a game is verified for the Machine or the Frame, the badge signals that the game should work well without any tweaks from the user.For the Machine, the requirements for a game to be verified are “nearly identical” to what they are for the Steam Deck. With the Machine being “roughly six times as powerful” as the Deck, in theory, many more games will be verified for it. Valve also says that it’s testing “every title on Machine that fell below our performance requirements on Deck.”For the Frame, Valve’s verified badge will signify games that run well while being played natively on the headset — as opposed to games that work well streamed to the headset, which the Frame is also capable of. “Like Steam Deck Verified, the Steam Frame Standalone Verified program focuses on the experience customers will have with the device out-of-the-box in standalone mode,” Valve says.Now, we just need Valve to share exactly when the Steam Machine and Steam Frame will be released and how much they might cost. After last week’s price hikes for the Steam Deck, I’m gearing up for sticker shock.#Valve #ready #launch #Steam #Machine #summerEntertainment,Gaming,News,PC Gaming

saying that “We’re excited for players to try your titles on the new Steam hardware once they launch this summer.”

When the company originally announced the Machine and Frame alongside its new Steam Controller late last year, it said that it would start shipping the new gadgets in early 2026. But in February, the company announced that the ongoing memory and storage crunch had forced it to revisit its pricing and shipping plans. And in March, Valve said in a blog post that it would be “shipping all three products this year” — though that was after the company initially said in the post that “we hope to ship in 2026,” which it removed in an update.

Valve opted to release the Steam Controller on its own, putting it up for sale in early May. For the Machine and Frame, while “summer” isn’t exactly a specific date, it narrows the window for when the products might finally come out.

Ahead of actually launching the devices, Valve is redesigning the Steam store and sharing information about the Verified programs for the hardware so that developers can prepare their games. Like with the Steam Deck, if a game is verified for the Machine or the Frame, the badge signals that the game should work well without any tweaks from the user.

For the Machine, the requirements for a game to be verified are “nearly identical” to what they are for the Steam Deck. With the Machine being “roughly six times as powerful” as the Deck, in theory, many more games will be verified for it. Valve also says that it’s testing “every title on Machine that fell below our performance requirements on Deck.”

For the Frame, Valve’s verified badge will signify games that run well while being played natively on the headset — as opposed to games that work well streamed to the headset, which the Frame is also capable of. “Like Steam Deck Verified, the Steam Frame Standalone Verified program focuses on the experience customers will have with the device out-of-the-box in standalone mode,” Valve says.

Now, we just need Valve to share exactly when the Steam Machine and Steam Frame will be released and how much they might cost. After last week’s price hikes for the Steam Deck, I’m gearing up for sticker shock.

#Valve #ready #launch #Steam #Machine #summerEntertainment,Gaming,News,PC Gaming">Valve says it’s ready to launch the Steam Machine this summer

Valve now says that the delayed Steam Machine PC and Steam Frame VR headset are set to launch sometime this summer. In a Thursday blog post detailing its Verified programs for both pieces of hardware, Valve concludes by saying that “We’re excited for players to try your titles on the new Steam hardware once they launch this summer.”

When the company originally announced the Machine and Frame alongside its new Steam Controller late last year, it said that it would start shipping the new gadgets in early 2026. But in February, the company announced that the ongoing memory and storage crunch had forced it to revisit its pricing and shipping plans. And in March, Valve said in a blog post that it would be “shipping all three products this year” — though that was after the company initially said in the post that “we hope to ship in 2026,” which it removed in an update.

Valve opted to release the Steam Controller on its own, putting it up for sale in early May. For the Machine and Frame, while “summer” isn’t exactly a specific date, it narrows the window for when the products might finally come out.

Ahead of actually launching the devices, Valve is redesigning the Steam store and sharing information about the Verified programs for the hardware so that developers can prepare their games. Like with the Steam Deck, if a game is verified for the Machine or the Frame, the badge signals that the game should work well without any tweaks from the user.

For the Machine, the requirements for a game to be verified are “nearly identical” to what they are for the Steam Deck. With the Machine being “roughly six times as powerful” as the Deck, in theory, many more games will be verified for it. Valve also says that it’s testing “every title on Machine that fell below our performance requirements on Deck.”

For the Frame, Valve’s verified badge will signify games that run well while being played natively on the headset — as opposed to games that work well streamed to the headset, which the Frame is also capable of. “Like Steam Deck Verified, the Steam Frame Standalone Verified program focuses on the experience customers will have with the device out-of-the-box in standalone mode,” Valve says.

Now, we just need Valve to share exactly when the Steam Machine and Steam Frame will be released and how much they might cost. After last week’s price hikes for the Steam Deck, I’m gearing up for sticker shock.

#Valve #ready #launch #Steam #Machine #summerEntertainment,Gaming,News,PC Gaming

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