The PE major, via its affiliate, sold 80 Lakh shares of the logistics giant at ₹250.03 each to rake in the amount. Of this, Oxbow lapped up 47.9 Lakh shares for a sum of ₹119.6 Cr
The bulk deal comes as the investor looks to book profits amid a sharp uptick in Shadowfax’s share prices in recent months and improving financials
This comes a month after PE giant TPG also offloaded Shadowfax shares worth nearly ₹300 in a block deal
Private equity (PE) giant TPG yesterday offloaded ShadowFax
shares worth ₹200 Cr via an open-market transaction.
According to BSE data, the PE major, via its entity NewQuest Asia Fund IV (Singapore), sold 80 Lakh shares of the logistics giant at ₹250.03 each to rake in the amount.
Of the shares that flooded the market, Hong Kong-based hedge fund Oxbow Master Fund lapped up 47.9 Lakh shares at ₹250 apiece for a sum of ₹119.6 Cr. There was no clarity on who picked up the rest of the shares.
The block deal was undertaken at a premium of 0.09% to the stock’s last closing price on Tuesday.
This is not the first time that early backers have diluted their shareholding in the listed logistics company in the past few months. Just last month, TPG also offloaded Shadowfax shares worth nearly ₹300 Cr in a block deal. Prior to this in July, Walmart-owned Flipkart and Eight Roads collectively sold Shadowfax shares worth nearly ₹1,654 Cr.
The bulk deals come as investors look to book profits amid a sharp uptick in Shadowfax’s share prices. The stock has surged nearly 23% in the past three months and is up more than 108.2% on a year-to-date (YTD) basis. This jump has come on the back of healthy performance by the startup on the financial front.
The logistics major reported an 8X surge in its consolidated net profit to ₹65.4 Cr in Q1 FY27 as against ₹8 Cr in the year ago quarter. Meanwhile, operating revenue jumped 65% YoY and 10% QoQ to ₹1,358.1 Cr in the quarter ended June 2026.
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 March 2027 as it looks to strengthen its quick commerce business.
Source: Inc42
