Qualcomm sells nearly 1% stake in Shadowfax Technologies for ₹157 cr
The shares were sold at an average price of ₹275.30 per share, taking the deal value to ₹157.28 crore
Global semiconductor giant Qualcomm Ventures divested a near 1 percent stake in logistics solutions provider Shadowfax Technologies for ₹157 crore on Monday, through an open market transaction. The company, via its affiliate Qualcomm Asia Pacific Pte Ltd, sold over 57.13 lakh shares, constituting a 0.98 percent stake, in the Bengaluru-based firm.
The shares were sold at an average price of ₹275.30 per share, resulting in a deal value of ₹157.28 crore. Qualcomm Asia Pacific, a regional corporate affiliate and investment arm of Qualcomm, held a 2.26 percent stake in the company as of the end of the June quarter. Details of the buyers remained undisclosed. Shadowfax Technologies' shares closed slightly lower at ₹294.75 each on the BSE.
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