ASIA BUSINESS OUTLOOK9OCTOBERNEWSROOMSHADOWFAX GETS SEBI NOD FOR 2,500 CR IPO BACKED BY FLIPKARTContemporary Amperex Technology Co. Ltd. (CATL), the world's leading EV battery manufacturer, reported a robust 41 percent year-on-year rise in Q3 net income, reaching 18.5 billion yuan (US$2.6 billion), aligning with analyst expectations.While revenue increased, it still missed forecasts, raising questions about margin pressures despite strong earnings.According to SNE Research, CATL maintained its dominant position with a 36.8 percent share of global EV battery installations from January to August 2025, reflecting its solid leadership in the electric vehicle battery market. As part of its global expansion strategy, CATL is investing in a major battery production facility in Hungary, expected to begin full-scale operations by early 2026.This plant will manufacture multiple battery chemistries to meet the evolving demands of the European EV market. The expansion is partially funded by CATL's recent Hong Kong stock listing, reinforcing its capital strength for global projects.However, CATL's international growth faces uncertainties due to potential restrictions on Chinese technology in key markets like the US and EU. On a positive note, the company is poised to regain mining approvals, potentially easing concerns around long-term lithium supply security, a critical raw material for EV battery production.CATL's performance and global ambitions underscore its central role in the future of electric mobility. Shadowfax Technologies, a Bengaluru-based logistics startup backed by Flipkart, has secured regulatory approval from the Securities and Exchange Board of India (SEBI) to launch its Rs. 2,500 crore (US$301 million) Initial Public Offering (IPO).The green light was given on October 17, 2025, giving the company a window of up to 18 months to file its final prospectus and list on Indian stock exchanges.Founded as a tech-driven logistics platform, Shadowfax specializes in e-Commerce parcel deliveries, quick commerce, and hyperlocal logistics services. A significant portion of its revenue is derived from the rapidly expanding e-Commerce sector, where the company partners with major players across last-mile delivery networks.Shadowfax is one of several private companies preparing to enter India's primary markets this quarter, alongside Aggcon Equipments International and Safex Chemicals, indicating renewed investor appetite in India's logistics and tech infrastructure space.With Flipkart as a key backer, Shadowfax has grown rapidly to become a major logistics enabler for India's e-Commerce boom, especially amid rising demand for same-day and next-day deliveries. The IPO approval comes at a time when public markets are increasingly favoring profitable, tech-first logistics solutions with strong scalability.The IPO is expected to fuel expansion, tech enhancement, and network scaling, positioning Shadowfax to compete more aggressively with established players in India's logistics and supply chain sector. CATL Q3 PROFIT JUMPS 41 PERCENT AMID GLOBAL EV BATTERY EXPANSION· Q3 net income surged 41percent to US$2.6B, aligning with analyst projections· CATL held 36.8 percent global EV battery market share YTD 2025· New Hungary plant set for 2026, boosting CATL's European footprint· SEBI approves Rs. 2,500 Cr IPO for Flipkart-backed Shadowfax· Tech-first logistics firm focuses on e-Commerce, q-Commerce, hyperlocal· Joins Aggcon and Safex in India's IPO pipeline for Q4 2025
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