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Stake sale · Commerce & Consumer Brands

TPG fund sells ₹114 crore of Shadowfax

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Shadowfax logo
Date
Company
Shadowfax
What it does
Logistics services provider
Kind
Stake sale
Amount
₹113.6 Cr
Based in
Bengaluru
Founded
2015
Sector
Commerce & Consumer Brands

What they do

Shadowfax is a listed technology-led third-party logistics services provider

What happened

A TPG-owned fund sold 40 lakh shares, a 0.68% stake, for ₹113.61 crore on the open market

Why it matters

The fund has cut its holding by 4.18 percentage points this quarter from 11.53% in June

The details

  • Newquest Asia Fund IV sold 40 lakh shares.
  • The price was ₹284.03 a share.
  • The stake sold was 0.68%.
  • Shares closed at ₹280.25, down 0.21%.

The bigger picture

  • The fund has sold 2.45 crore shares this quarter.
  • Its holding was 11.53% in June 2026.

About the business

  • Shadowfax runs parcel delivery across India, including same-day, next-day and return pickups from buyers.
  • Its main customers are online marketplaces and D2C brands (brands that sell directly to shoppers), plus small sellers and individuals.
  • It earns money from delivery fees per parcel, with extra charges for cash-on-delivery handling and a seller software product called Shadowfax 360.
  • It fulfilled over 72 crore customer orders in FY26 and its revenue rose 69% to about Rs 4,202 crore that year.
  • Its network covers more than 16,000 PIN codes, backed by a large pool of gig delivery partners and thousands of trucks.
  • It is based in Bengaluru and is listed on the stock exchanges.

Investors

  • TPG (owner of selling fund) — Global alternative asset manager.

Founders

  • Abhishek Bansal (co-founder and CEO): IIT Delhi graduate; named in Forbes 30 Under 30 (2019) and ET 40 Under Forty (2022). LinkedIn: https://in.linkedin.com/in/abhishek-bansal-69b08624
  • Vaibhav Khandelwal (co-founder): IIT Delhi graduate who co-founded the company with Abhishek Bansal in 2015. LinkedIn: https://www.linkedin.com/in/khandelwal-vaibhav/
  • Praharsh Chandra (co-founder and Chief Business Officer): studied at IIT Delhi. LinkedIn: https://www.linkedin.com/in/praharsh-chandra-43073358/
  • Gaurav Jaithliya (co-founder): studied at IIT Delhi. LinkedIn: https://www.linkedin.com/in/jaithliya/

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