Walmart-owned Flipkart and investor Eight Roads Ventures sold Shadowfax shares worth a combined ₹1,654.4 crore in bulk deals this week, according to NSE data. Flipkart offloaded 3.37 crore shares at an average price of ₹204.45 per share, raising about ₹690 crore. Eight Roads sold 4.7 crore shares across two bulk deals at average prices near ₹204.75 apiece, fetching roughly ₹964.4 crore.
The transactions mark another partial exit for Flipkart, which had earlier sold shares worth ₹400 crore during Shadowfax's initial public offering. The identities of the buyers were not disclosed in the exchange data. Flipkart has been an early backer of Shadowfax and has recently reduced stakes in other companies including BlackBuck and Aditya Birla Lifestyle Brands. The bulk deals follow a strong financial year for Shadowfax, which reported a 69.1% revenue increase and turned profitable with a net profit of ₹112 crore in FY26.
Shadowfax's growth reflects its expanding presence in India's third-party logistics market. In the March quarter alone, the company’s revenue rose 73.6% year-on-year to ₹1,237 crore, with a net profit of ₹55.8 crore compared to a loss in the previous year. The share sales by Flipkart and Eight Roads come amid a broader trend of early investors monetizing stakes in profitable logistics startups after strong financial performances.
Shadowfax’s latest financial results and investor exits highlight its evolving position in the logistics sector. The company’s March quarter earnings were disclosed in its recent filings, confirming the ₹1,237 crore revenue and ₹55.8 crore net profit figures, underscoring its profitability and growth trajectory.