The PE major, via its entity NewQuest Asia Fund IV (Singapore), sold 40 Lakh shares of the logistics giant at ₹284.03 apiece to rake in the amount
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
In the past two months, PE giant TPG has offloaded Shadowfax shares worth nearly ₹500 Cr across two separate block deals
Private equity (PE) giant TPG has now offloaded more shares of listed logistics giant ShadowFax
via an open-market transaction for ₹113.6 Cr.
According to BSE data, the PE major, via its entity NewQuest Asia Fund IV (Singapore), sold 40 Lakh shares of the logistics giant at ₹284.03 apiece to rake in the amount. There was no clarity on who lapped up the shares that flooded the market.
The block deal was undertaken at a premium of 1.3% to the stock’s last closing price on Wednesday.
This is not the first time that TPG has sold its stake in the company in the past two months. In September, the PE firm offloaded Shadowfax shares worth ₹200 Cr. A month prior in August, TPG also pared stakes worth ₹300 Cr in the company a block deal.
The bulk deals come as investors look to book profits amid a sharp jump in Shadowfax’s share prices. The stock hit an all-time high ₹291.90 on September 24. Overall, shares of the company have surged 14.22% in the past month, and are up more than 143.97% in the last six months.
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.
Shares of Shadowfax closed Wednesday’s trading session 0.09% lower at ₹280.5 on the BSE.
Source: Inc42
