Private equity firm TPG has executed another open-market divestment in logistics operator Shadowfax, selling 40 lakh shares for ₹114.8 crore through its entity NewQuest Asia Fund IV (Singapore). Data from the BSE shows the transaction took place at ₹287 per share, reflecting a 0.3% discount to the stock's closing price on Tuesday. The identity of the purchasing party was not disclosed.
Repeated Stake Divestments Amid Valuation Surge
The transaction represents TPG's fourth bulk deal sale in Shadowfax over the last three months. The private equity firm previously offloaded shares valued at ₹113.6 crore in the prior week, ₹200 crore in September, and ₹300 crore in August. These liquidations follow a sharp rally in Shadowfax's stock price, which reached an all-time high of ₹291.90 on September 24.
Over the past six months, Shadowfax shares have risen by more than 144.38%, supported by financial reporting published after the company went public earlier this year.
Upgraded Revenue Guidance and Profit Growth
Shadowfax experienced growth in its financial results for the first quarter of FY27, reporting an eightfold increase in consolidated net profit to ₹65.4 crore compared to ₹8 crore in the prior-year period. Quarterly operating revenue expanded 65% year-over-year and 10% quarter-over-quarter to ₹1,358.1 crore.
Following these financial metrics, Shadowfax raised its FY27 annual revenue growth forecast to a range of 38% to 40%, up from its earlier guidance of 28% to 30%.
Operational Footprint and Dark Store Expansion
Established in 2015 by Abhishek Bansal and Vaibhav Khandelwal, Shadowfax manages logistics services for e-commerce, quick commerce, and direct-to-consumer brands across more than 16,372 pincodes.
To bolster its quick commerce operations, the logistics company plans to expand its dark store footprint from 47 facilities to 100 by March 2027. On Tuesday, Shadowfax shares closed down 0.4% at ₹287.75 on the BSE.
AI-generated editorial illustration; not a documentary photograph.
Source: TPG Offloads More Shadowfax Shares Via ₹115 Cr Bulk Deal
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