NewQuest Asia Fund IV Sells Shares in Shadowfax Technologies

TPG-backed NewQuest Asia Fund IV has executed a sale of an additional 40 lakh shares in Shadowfax Technologies, a logistics firm, in a bulk transaction valued at Rs 114.8 crore. Based on exchange data, NewQuest Asia Fund IV (Singapore) sold these shares at a price of Rs 287 each, accounting for approximately 0.68% of Shadowfax’s paid-up equity capital. This transaction marks the fourth instance of the private equity firm liquidating shares in Shadowfax over the last three months.

In August, NewQuest divested 1.25 crore shares valued at roughly Rs 300.6 crore. This was succeeded by another sale of 80 lakh shares for close to Rs 200 crore in September. On September 30, the fund sold another 40 lakh shares for Rs 113.6 crore. Following this latest activity, NewQuest has offloaded a total of 2.85 crore shares in Shadowfax since July, reducing its stake by about 4.86 percentage points. As of June 2026, it held an 11.53% stake in the company.

Shadowfax Technologies has also delivered robust financial results. Its consolidated net profit skyrocketed more than eightfold to Rs 65.4 crore in Q1 FY27, up from Rs 8 crore during the corresponding period last year. Operating revenue soared by 65% year-on-year, reaching Rs 1,358 crore for the quarter.

Established in 2015 by Abhishek Bansal and Vaibhav Khandelwal, Shadowfax specializes in logistics solutions for e-commerce, quick-commerce, and direct-to-consumer enterprises. The company debuted on the stock exchanges earlier this year at an initial public offering price of Rs 124 per share.

Presently, Shadowfax operates across more than 16,000 pincodes and is actively enhancing its quick-commerce network, aiming to bolster its standing in the burgeoning last-mile delivery sector. Shares of Shadowfax are currently valued at Rs 287.6 as of 10:38 AM, with a total market capitalization of Rs 16,895 crore.