TPG has sold 40 lakh shares of logistics company Shadowfax via an open-market bulk deal worth ₹114.8 crore, according to BSE data reported by inc42.com. The shares were sold at ₹287 apiece, a 0.3% discount to the stock’s last closing price. This marks the fourth bulk sale by TPG in three months, following previous offloads worth ₹113.6 crore, ₹200 crore, and ₹300 crore.
The bulk deal was executed through TPG’s entity NewQuest Asia Fund IV (Singapore). The buyer of the shares was not disclosed. The recent sales come amid a sharp rise in Shadowfax’s share price, which hit an all-time high of ₹291.90 on September 24. Shadowfax shares have surged over 10.96% in the past month and more than 144.38% in the last six months, reflecting strong investor interest.
Shadowfax’s stock price rally follows its robust financial performance. The company reported an eightfold increase in consolidated net profit to ₹65.4 crore in Q1 FY27, compared to ₹8 crore in the same quarter last year. Operating revenue also rose 65% year-on-year and 10% quarter-on-quarter to ₹1,358.1 crore. The strong results have likely contributed to TPG’s decision to reduce its stake gradually through multiple bulk deals.
TPG’s continued stake reduction in Shadowfax through bulk deals totaling over ₹700 crore in the past three months underscores its strategy to capitalize on the company’s recent market gains. The logistics startup’s next quarterly results release will provide further insights into its growth trajectory and investor sentiment.