PE Giant TPG Offloads Shadowfax Shares In ₹301 Cr Bulk Deal

Private equity conglomerate TPG recently offloaded shares in logistics company Shadowfax through a sizable ₹301.6 crore open-market transaction, according to BSE records. Through its Singapore-based entity, NewQuest Asia Fund IV, TPG sold 1.25 crore shares at ₹240.46 each, netting the sum. Hong Kong-based hedge fund Oxbow acquired 69.3 lakh shares at ₹240.25 per share, investing ₹166.5 crore.

The remaining shares' purchasers remain unknown. TPG held an 11.53% stake, or 6.7 crore shares, in Shadowfax as of June 2026. Following this deal, the PE giant reduced its shareholding by over 18%. Recent weeks have seen early investors offloading their stakes in Shadowfax, including Walmart-owned Flipkart, which sold shares worth nearly ₹690 crore in a block deal last month.

Eight Roads, backed by Fidelity, also divested 4.7 crore shares across two deals for ₹964.4 crore. These bulk deals came as investors sought to capitalize on Shadowfax's significant share price surge. The stock has increased by more than 9% in the past week and risen by over 43.5% in the past three months. This surge is attributable to strong financial performance by the company in its latest quarter.

Shadowfax reported an 8X increase in consolidated net profit to ₹65.4 crore in Q1 FY27 compared to ₹8 crore in the same period last year. Operating revenue grew 65% YoY and 10% QoQ to ₹1,358.1 crore in the June 2026 quarter. Shadowfax revised its FY27 revenue growth forecast to 38-40% after strong results, up from a 28-30% guidance just a quarter prior.

Founded in 2015 by Abhishek Bansal and Vaibhav Khandelwal, the logistics company serves ecommerce, quick commerce, and direct-to-consumer brands across over 16,372 postal codes, aiming to expand its dark store network from 47 to 100 by FY27-end to bolster its quick commerce business.