Stake sale · Mobility & Logistics

Shadowfax shares fall 7% as investors sell stakes

By Startup Enthusiast · 24 July 2026

What they do

Shadowfax provides express parcel, same-day, next-day, and quick commerce delivery

TPG, Eight Roads, and Flipkart sold shares worth ₹1,654 crore in block deals

The stake sale coincided with the expiry of the six-month lock-in period for major pre-IPO investors after listing in January 2026

Shadowfax shares fell 7% on block deal buzz.
The stake sale coincided with the expiry of a six-month lock-in period for major pre-IPO investors.
TPG entity NewQuest Asia Fund IV sold 1.25 crore shares at ₹240.46 each.
Eight Roads sold 4.7 crore shares across two bulk deals at average prices of ₹204.62 and ₹204.88, totalling about ₹964.4 crore.
Flipkart sold 3.37 crore shares at an average price of ₹204.45, totalling about ₹690 crore.
ICICI Prudential Mutual Fund raised its stake to 8.56% after acquiring 89.44 lakh shares on July 24.
Oxbow, a Hong Kong-based hedge fund, bought 69.3 lakh shares at ₹240.25 apiece for ₹166.5 crore.
The stock had surged about 84% from its listing price and touched a peak of ₹241.55 on July 7.

The stake sale came after the six-month lock-in for pre-IPO investors ended.
TPG diluted more than 18% of its shareholding in the block deal.
Flipkart had also sold shares worth ₹400 crore in the IPO earlier.
The company reported strong Q1 FY27 results with net profit surging 8X to ₹65.4 crore.

Shadowfax provides express parcel delivery, returns, same-day, next-day, and 30-minute delivery services.
It offers end-to-end delivery for D2C and ecommerce brands.
Its hyperlocal and quick commerce delivery operates within hours or flexible same-day and next-day slots.
The Shadowfax Courier App powers on-demand pick-up and drop-off within cities for individuals and small businesses.

Shadowfax plans to increase dark stores from 15 to 100 by FY27-end.
It is expanding beyond ecommerce deliveries into quick commerce, same-day shipping, premium freight, and fulfillment infrastructure.
The company revised its FY27 revenue growth forecast to 38-40% from earlier guidance of 28-30%.

TPG (seller) — Sold 1.25 crore shares at ₹240.46 each via NewQuest Asia Fund IV.
Eight Roads (seller) — Sold 4.7 crore shares across two bulk deals for about ₹964.4 crore.
Flipkart (seller) — Sold 3.37 crore shares at average price of ₹204.45 for about ₹690 crore.
ICICI Prudential Mutual Fund (buyer) — Raised stake to 8.56% after acquiring 89.44 lakh shares on July 24.
Oxbow (buyer) — Hong Kong-based hedge fund bought 69.3 lakh shares at ₹240.25 apiece for ₹166.5 crore.