TPG Sells More Shadowfax Shares in $13.8M Bulk Deal
Private equity firm TPG has further reduced its stake in logistics company Shadowfax through an open-market sale. The transaction, valued at approximately $13.8 million, marks another divestment by the investor.
Private equity firm TPG has continued to divest its holdings in the listed logistics company Shadowfax, selling shares worth approximately $13.8 million (₹114.8 crore) via an open-market transaction. The sale was executed by TPG's entity, NewQuest Asia Fund IV (Singapore), involving the disposal of 4 million shares at ₹287 each.
The bulk deal occurred at a slight discount of 0.3% to Shadowfax's closing price on Tuesday. The buyers of the shares were not immediately identified. This latest transaction is the fourth such sale by TPG in Shadowfax within the past three months, following previous divestments totaling hundreds of millions of dollars.
The continued sell-off by TPG coincides with a significant surge in Shadowfax's share price. The stock reached an all-time high in late September, driven by strong financial performance. Shadowfax reported an eightfold increase in net profit for the first quarter of fiscal year 2027 and raised its revenue growth forecast.
Founded in 2015, Shadowfax operates a logistics network for e-commerce, quick commerce, and direct-to-consumer brands. The company, which went public earlier this year, is expanding its infrastructure, including plans to double its network of dark stores by March 2027 to bolster its quick commerce business.