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The raids are carried out in Lucknow, Gurugram, and Delhi.
Shadowfax had closed a $100-million round in primary and secondary investments in February.
PhonePe became a part of Walmart as a bolt-on acquisition.
E-commerce faces logistics cost hurdle.
The company had previously raised $100,000 in August ?23
Transport Secretary urged all participants to submit their opinions.
Mahindra Logistics is the third-party logistics service providers.
The expansion will be fuelled by an investment of $400 million
This would create around 70,000 direct employment opportunities.
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