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Stake sale · Mobility & Logistics

Mirae Asset sells Shadowfax stake for Rs 120 crore

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Shadowfax logo
Date
Company
Shadowfax
What it does
Last-mile logistics platform
Kind
Stake sale
Amount
Rs 120 Cr
Founded
2015
Sector
Mobility & Logistics

What they do

Shadowfax delivers parcels for ecommerce and quick commerce brands

What happened

Mirae Asset sold a 0.97% stake via a bulk deal at Rs 212 per share

Why it matters

The company posted a Q4 FY26 net profit of Rs 56 crore, versus a loss a year ago

The details

  • Mirae Asset Late Stage Opportunities Fund sold a 0.97% stake in Shadowfax.
  • The transaction occurred through a bulk deal valued at Rs 119.8 crore.
  • Shares were sold at a price of Rs 212 per share.
  • A total of 56.5 lakh units changed hands during this sale.
  • Mirae Asset held a cumulative stake of 6.73% before the transaction.
  • This sale reduces Mirae Asset's holding in the logistics company.
  • The stock price was approximately Rs 230.50 around the time of the deal.

The bigger picture

  • Shadowfax reported a net profit of Rs 56 crore in Q4 FY26.
  • This marks a turnaround from a loss of Rs 10 crore in the previous year.
  • Operating revenue grew by 74% to reach Rs 1,237 crore.
  • Investors may view the stake sale as a liquidity event post-listing.

About the business

  • Shadowfax operates as a last-mile and hyperlocal logistics platform.
  • It serves ecommerce marketplaces, D2C brands, and quick commerce players.
  • The company also supports SMEs and individual customers with delivery services.
  • Key competitors include Delhivery, XpressBees, Ecom Express, and Ekart.
  • Shadowfax has delivered over 200 crore parcels since its inception.
  • It utilizes a fleet of more than 3,500 trucks for operations.
  • The network covers 16,372 pin codes across India.
  • Over 2.9 lakh delivery partners work with the company quarterly.
  • Services include express parcel, reverse parcel, and critical logistics.
  • Tech solutions feature AI geocoding and digital shipping platforms.
  • The company is expanding its electric vehicle fleet for sustainable deliveries.

The deal

Type
stake-sale

Investors

  • Mirae Asset Late Stage Opportunities Fund (seller) — An investment fund that previously held a 6.73% stake.

Founders

  • Abhishek Bansal, Founder
  • Vaibhav Khandelwal, Founder
  • Gaurav Jaithliya, Founder
  • Praharsh Chandra, Founder

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