TPG Sells Shadowfax Shares Worth ₹200 Crore in Bulk Deal

Private equity firm TPG sold shares in logistics company Shadowfax valued at approximately ₹200 crore via an open market transaction yesterday. TPG's entity, NewQuest Asia Fund IV (Singapore), divested 8 million shares at ₹250.03 each, according to data from the BSE exchange.

Hong Kong-based hedge fund Oxbow Master Fund purchased 4.79 million shares for about ₹119.6 crore at ₹250 per share. The buyers of the remaining shares were not immediately clear. The bulk deal was executed at a slight premium of 0.09% to the stock's previous closing price.

This is not the first time early backers have reduced their stake in the listed logistics firm in recent months. Last month, TPG also sold Shadowfax shares worth nearly ₹300 crore in a similar block deal. Prior to that, in July, Walmart-owned Flipkart and Eight Roads collectively sold Shadowfax shares worth approximately ₹1,654 crore.

The divestments occur as investors seek to capitalize on the recent surge in Shadowfax's share price. The stock has gained nearly 23% in the past three months and over 108% year-to-date, driven by the company's robust financial performance.

Shadowfax reported an eightfold increase in its consolidated net profit for Q1 FY27 to ₹65.4 crore, up from ₹8 crore in the prior year. Operating revenue grew by 65% year-on-year to ₹1,358.1 crore. The company has also revised its revenue growth forecast for FY27 upwards to 38-40%.