TPG-backed NewQuest offloads more stake in Shadowfax via bulk deal
With the latest transaction, NewQuest has offloaded 2.85 crore Shadowfax shares since July.
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TPG-backed NewQuest Asia Fund IV has sold another 40 lakh shares of logistics startup Shadowfax Technologies in a bulk deal worth Rs 114.8 crore.
According to exchange data, the private equity investor sold the shares at Rs 287 apiece, equivalent to around 0.68% of Shadowfax’s paid-up equity capital.
This is NewQuest’s fourth stake sale in Shadowfax in the past three months. The investor sold 1.25 crore shares worth Rs 300.6 crore in August, followed by 80 lakh shares for nearly Rs 200 crore in September. On September 30, it sold another 40 lakh shares for Rs 113.6 crore.
With the latest transaction, NewQuest has offloaded 2.85 crore Shadowfax shares since July, reducing its stake by around 4.86 percentage points. It held an 11.53% stake in the company as of June 2026.
Shadowfax, which was listed on the stock exchanges earlier in January, was founded in 2015 by Abhishek Bansal and Vaibhav Khandelwal. It provides logistics services to e-commerce, quick-commerce and D2C businesses.
The company's consolidated net profit jumped more than eightfold to Rs 65.4 crore in Q1 FY27 from Rs 8 crore a year earlier, while operating revenue increased 65% year-on-year to Rs 1,358 crore.
The company currently serves more than 16,000 pincodes and is expanding its quick-commerce network to strengthen its presence in the last-mile delivery market.