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Shadowfax IPO set to deliver multifold gains for Kunal Bahl, Flipkart, Eight Roads, and others

EntrackrEntrackr ยท 3d ago
Shadowfax IPO set to deliver multifold gains for Kunal Bahl, Flipkart, Eight Roads, and others
Medial

Shadowfax is gearing up for its Rs 1,907 crore initial public offering as the company has set the upper end of its IPO price band at Rs 124 per share. The fixed price band has cleared the way for significant returns for several early investors. According to the price band and offer details, a number of strategic and financial backers are set to gain multi-fold returns on their initial investments as they pare their holdings in the logistics startup. Flipkart, one of Shadowfaxโ€™s early and strategic investors, is expected to generate nearly 3X returns on its investment by selling shares worth around Rs 237 crore through the OFS. Eight Roads Investments, an affiliate of Fidelity, stands out among financial investors with an estimated 10X return on shares worth Rs 197 crore. NewQuest Asia Fund is set to make about 2X returns by offloading shares worth Rs 150 crore, while Nokia Growth Partners (NGP Capital) is likely to see nearly 4X gains on its Rs 101 crore OFS. The International Finance Corporation (IFC), the World Bankโ€™s private-sector arm, is also expected to exit partially with around 4X returns on shares worth Rs 84 crore. Among other investors, Mirae Asset is set to generate close to 4.9X returns on its Rs 138 crore stake sale, while Qualcomm Asia Pacific is expected to earn around 5X returns by selling shares worth Rs 62 crore. Notably, individual investors Kunal Bahl and Rohit Kumar Bansal are set to emerge as the biggest winners in percentage terms. Each is selling shares worth about Rs 14 crore, translating into a massive 157X return on their initial investments, according to the IPO price band. Shadowfaxโ€™s IPO comprises a fresh issue of around Rs 1,000 crore and an offer-for-sale (OFS) component of approximately Rs 907 crore. The company is targeting a post-money valuation near Rs 7,400 crore, lower than earlier internal drafts. Founded in 2015 by Abhishek Bansal, Vaibhav Khandelwal, Praharsh Chandra, and Gaurav Jaithliya, the Bengaluru-based firm provides last-mile delivery across e-commerce and hyperlocal sectors, serving over 14,000 pin codes through 1.25 lakh delivery partners.

Why it's impossible to review AIs, and why TechCrunch is doing it anyway

TechCrunchTechCrunch ยท 1y ago
Why it's impossible to review AIs, and why TechCrunch is doing it anyway
Medial

AI models are evolving rapidly, making it difficult to comprehensively evaluate their capabilities. The pace of release is too fast for thorough assessment, and these models are increasingly complex and opaque. Furthermore, companies do not disclose changes made to their models, making it hard to keep evaluation frameworks relevant. Synthetic benchmarks provide limited insights and can be manipulated by companies to showcase better performance. Despite these challenges, qualitative analysis of AI models is valuable to counter industry hype and provide a real-world perspective. TechCrunch utilizes a subjective approach to testing AI models, focusing on specific categories for evaluation. However, the review process is not comprehensive and has its limitations.

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