Mirae Asset Late Stage Opportunities Fund’s Stake in Shadowfax

Mirae Asset Late Stage Opportunities Fund recently divested a 0.97% stake in the logistics unicorn Shadowfax for nearly Rs 120 crore. According to BSE bulk deal data, this asset management firm sold 56.5 lakh shares of Shadowfax at Rs 212 each, culminating in a transaction value of Rs 119.8 crore. As of March 2026, Mirae Asset maintained a total stake of 6.73% in Shadowfax through various funds. This latest sale represents about 0.97% of the company’s equity, which decreases the overall holding of the asset manager in this logistics and quick-commerce delivery platform.

About Shadowfax

Established in 2015 by Abhishek Bansal, Vaibhav Khandelwal, and Arindam Das, Shadowfax operates in the last-mile and hyperlocal logistics domain. The company provides services to e-commerce marketplaces, direct-to-consumer (D2C) brands, and quick commerce players. Shadowfax faces stiff competition from other firms like Delhivery, XpressBees, Ecom Express, and Ekart in a highly competitive market.

Financial Performance

For the fourth quarter of FY26, Shadowfax demonstrated remarkable growth, with a 74% year-on-year increase in operating revenue, rising to Rs 1,237 crore from Rs 712 crore in the same quarter last year. The company achieved profitability by reporting a net profit of Rs 56 crore, reversing a loss of Rs 10 crore recorded in Q4 FY25.

Market Listing and Stock Performance

Shadowfax had a rather subdued entry on the stock exchanges earlier this year, with shares debuting at a 9% discount compared to the IPO price. Nevertheless, the stock value has nearly doubled over the past two months, reaching Rs 230.50 per share, which has elevated the company’s market capitalisation to Rs 13,484 crore.