ICICI Prudential MF Increases Shadowfax Stake to 8.56%

ICICI Prudential Mutual Fund has increased its holding in logistics firm Shadowfax Technologies to 8.56%, acquiring 8.94 million shares through open market transactions on July 24. This latest purchase brings the fund's total ownership in the company to 50 million shares.

The transaction, valued at approximately ₹192 crore (about $2.3 million USD) based on Shadowfax's closing price on July 24, occurred on a day when major shareholders Flipkart and Eight Roads Ventures also divested substantial stakes in the company.

Shadowfax, which debuted on the stock market in January, has seen its share price surge approximately 84% from its listing price. The company has demonstrated improved financial performance, reporting a profit of ₹55.8 crore in Q4 FY26, a significant turnaround from a net loss in the prior year's comparable period. Revenue also rose by 73.6% year-over-year.

The company is scheduled to release its first-quarter financial results for FY27 on July 31. Shadowfax Technologies currently holds a market capitalization of approximately $1.2 billion USD.