Shadowfax Stake Sale by TPG-backed NewQuest Asia Fund IV
TPG-backed NewQuest Asia Fund IV has recently sold a further 1.36% stake in the logistics startup Shadowfax, amounting to approximately Rs 200 crore through a bulk transaction on the BSE. As per exchange data, NewQuest sold 80 lakh shares at Rs 250.03 each, while OxBow Master Fund purchased 47.85 lakh shares at Rs 250 apiece, totalling around Rs 119.6 crore.
This transaction follows an earlier deal conducted in August, during which NewQuest offloaded 1.25 crore shares of Shadowfax at Rs 240.46 each, raising approximately Rs 300.6 crore. In that instance, OxBow Master Fund acquired 69.32 lakh shares at a price of Rs 240.25 per share, amounting to Rs 166.5 crore. As of June 2026, NewQuest held an 11.53% stake in Shadowfax. Across both transactions, they have sold roughly 2.05 crore shares for over Rs 500 crore, while OxBow has secured a 2% stake in the business.
Recent Company Performance
The latest share sale coincides with the ongoing activity in the secondary market concerning Shadowfax after its public listing. In the first quarter of FY27, Shadowfax reported a remarkable 65% increase in operating revenue, reaching Rs 1,358 crore. Additionally, the company’s profit surged more than eightfold to Rs 65 crore during the same quarter.
As of the closing of Tuesday’s trading session, Shadowfax’s stock was priced at around Rs 249.8 on the BSE, which values the company at approximately Rs 14,656 crore (about $1.54 billion).