Private equity firm TPG sold Shadowfax shares worth ₹200 crore through an open-market transaction yesterday, according to BSE data reported by inc42.com. The sale involved 80 lakh shares at ₹250.03 each, executed via TPG’s entity NewQuest Asia Fund IV (Singapore). Hong Kong-based hedge fund Oxbow Master Fund acquired 47.9 lakh shares for ₹119.6 crore, while the buyers of the remaining shares were not disclosed.
The block deal was completed at a slight premium of 0.09% to Shadowfax’s last closing price on Tuesday. This transaction follows a series of share sales by early investors in the logistics company over recent months. Last month, TPG offloaded nearly ₹300 crore worth of shares in a block deal. In July, Walmart-owned Flipkart and Eight Roads sold Shadowfax shares valued at approximately ₹1,654 crore collectively, reflecting ongoing profit-booking amid rising share prices.
Shadowfax’s stock has surged about 23% over the past three months and is up more than 108.2% year-to-date. The price rally coincides with the company’s strong financial performance, including an eightfold increase in consolidated net profit to ₹65.4 crore in Q1 FY27 from ₹8 crore a year earlier. Operating revenue also rose 65% year-on-year and 10% quarter-on-quarter to ₹1,358.1 crore in the quarter ended June 2026, underscoring investor confidence in the logistics startup.
The recent bulk sale by TPG adds to the liquidity of Shadowfax shares following significant shareholding reductions by early backers. The company’s next quarterly results will provide further insight into its growth trajectory and investor sentiment in the logistics sector.