TPG Sells Shadowfax Shares Worth ₹301 Crore in Bulk Deal

Private equity firm TPG offloaded shares in logistics company Shadowfax valued at nearly ₹300.6 crore in an open market transaction yesterday. The deal saw TPG, through its entity NewQuest Asia Fund IV (Singapore), sell 1.25 crore shares at ₹240.46 each.

Hong Kong-based hedge fund Oxbow was a buyer, acquiring 69.3 lakh shares at ₹240.25 apiece for ₹166.5 crore. Information regarding the purchasers of the remaining shares was not immediately available.

TPG previously held an 11.53% stake, or 6.7 crore shares, in Shadowfax as of June 2026. This transaction represents a reduction of over 18% in its shareholding. TPG joins other early backers who have recently reduced their stakes in the listed startup.

Other significant stake sales include Walmart-owned Flipkart, which sold shares worth nearly ₹690 crore last month. Fidelity-backed Eight Roads also divested 4.7 crore shares across two bulk deals for ₹964.4 crore.

The bulk deals coincide with a significant rise in Shadowfax's share price. The stock has increased by over 9% in the past week and more than 43.5% in the last three months, driven by strong financial performance. The company reported an eightfold surge in its consolidated net profit to ₹65.4 crore in Q1 FY27, compared to ₹8 crore a year prior. Revenue grew 65% year-on-year to ₹1,358.1 crore.

Following its financial results, Shadowfax revised its FY27 revenue growth forecast upwards to 38-40%, from a previous projection of 28-30%. Founded in 2015 by Abhishek Bansal and Vaibhav Khandelwal, Shadowfax operates a logistics network for e-commerce, quick commerce, and D2C brands and was listed earlier this year.