Private equity (PE) giant TPG yesterday offloaded Shadowfax shares worth nearly ₹300.6 Cr via an open-market transaction.
According to BSE data, the PE major, via its entity NewQuest Asia Fund IV (Singapore), sold 1.25 Cr shares of the logistics giant at ₹240.46 each to rake in the amount.
As the shares flooded the market, Hong Kong-based hedge fund Oxbow lapped up 69.3 Lakh shares at ₹240.25 apiece for a sum of ₹166.5 Cr. There was no clarity on who picked up the rest of the shares.
TPG owned 11.53% stake, or 6.7 Cr shares, in the logistics giant at the end of June 2026. Post the latest block deal, the PE giant has diluted more than 18% of its shareholding in the listed startup. With this, TPG has joined a growing list of early backers that have offloaded their stakes in Shadowfax in recent weeks.
Last month, Walmart-owned Flipkart sold shares worth nearly ₹690 Cr in the listed logistics company via a block deal. Fidelity-backed Eight Roads also offloaded 4.7 Cr shares across two bulk deals for a sum of ₹964.4 Cr.
The bulk deals come as investors look to book profits amid a sharp uptick in Shadowfax’s share prices. The stock is up more than 9% in the past week and has surged more than 43.5% in the past three months. This jump has come on the back of strong financial performance by the company in the recently concluded quarter.
The logistics major reported an 8X surge in its consolidated net profit to ₹65.4 Cr in Q1 FY27 as against ₹8 Cr PAT in the year ago quarter. Meanwhile, operating revenue jumped 65% YoY and 10% QoQ to ₹1,358.1 Cr in the June 2026 quarter.
Following the results, Shadowfax also revised its FY27 revenue growth forecast to 38-40%, a significant jump from the 28-30% guidance projected just a quarter ago.
Founded in 2015 by Abhishek Bansal and Vaibhav Khandelwal, Shadowfax operates a logistics network serving ecommerce, quick commerce and D2C brands. The company was listed on the stock exchanges earlier this year.
It currently operates across more than 16,372 pincodes and plans to increase its network of dark stores from 47 to 100 by FY27-end as it looks to strengthen its quick commerce business.
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