TPG Sells Shadowfax Shares Worth €114 Million
Private equity firm TPG has sold additional shares in logistics company Shadowfax through an open-market transaction valued at approximately €113.6 million. This divestment continues TPG's recent pattern of reducing its stake in the company.
Private equity giant TPG has further reduced its holdings in the publicly listed logistics firm Shadowfax, offloading shares worth approximately €113.6 million in an open-market transaction. The sale, executed through TPG's entity NewQuest Asia Fund IV (Singapore), involved 4 million shares sold at a price of €284.03 each.
The block deal was conducted at a premium of 1.3% above the stock's closing price on Wednesday. This marks another significant sale by TPG, which previously divested €200 million worth of Shadowfax shares in September and €300 million in August of this year.
The continued sales by TPG occur amidst a substantial surge in Shadowfax's stock price. The company's shares reached an all-time high of €291.90 on September 24. Over the past month, the stock has appreciated by over 14%, and its value has increased by more than 143% in the last six months.
This stock performance is underpinned by Shadowfax's strong financial results. In the first quarter of fiscal year 2027 (ending June 2026), the company reported an eightfold increase in consolidated net profit to €65.4 million, compared to €8 million in the same period last year. Operating revenue grew by 65% year-over-year to €1,358.1 million.
Following these results, Shadowfax revised its full-year FY27 revenue growth forecast upwards to 38-40%, from a previous projection of 28-30%. The company, founded in 2015, serves e-commerce, quick commerce, and D2C brands. Shadowfax plans to expand its network of "dark stores" from 47 to 100 by March 2027 to bolster its quick commerce operations. Shadowfax shares closed Wednesday's trading session 0.09% lower at €280.5 on the BSE.