TPG-backed NewQuest Asia Fund IV (Singapore) has sold shares worth ₹114.8 crore in logistics services provider Shadowfax Technologies through an open-market bulk deal on October 6, 2026.
According to BSE data, NewQuest Asia Fund IV sold 40 lakh shares of Shadowfax at ₹287 per share. The shares represented a 0.68% stake in the company. The identity of the buyer was not disclosed.
The transaction was carried out at a slight discount to Shadowfax’s previous closing price. The company’s shares had closed at ₹287.75 on the BSE on October 6, 2026, down 0.4% from the previous session.
The latest transaction marks the fourth time TPG has sold its stake in Shadowfax through open-market transactions in the past three months. In the previous week, the private equity firm sold Shadowfax shares worth ₹113.6 crore. In September, it offloaded shares worth ₹200 crore, while in August it sold shares worth ₹300 crore through a bulk deal.
With the latest sale, TPG has generated ₹613.6 crore through these open-market transactions since August 2026.
The stake sales come as Shadowfax’s share price has recorded a strong increase in recent months. The stock touched an all-time high of ₹291.90 on September 24, 2026. Its shares have gained 10.96% over the past month and more than 144.38% over the past six months.
The rise in Shadowfax’s stock price has coincided with improved financial performance. The company reported an eight-fold increase in consolidated net profit to ₹65.4 crore in the first quarter of FY27, compared with ₹8 crore in the same quarter a year earlier.
Shadowfax’s operating revenue increased 65% year-on-year and 10% quarter-on-quarter to ₹1,358.1 crore during the quarter. Following its quarterly results, the company revised its FY27 revenue growth guidance to 38-40%, compared with the 28-30% guidance it had given a quarter earlier.
Founded in 2015 by Abhishek Bansal and Vaibhav Khandelwal, Shadowfax operates a logistics network serving e-commerce, quick-commerce and direct-to-consumer brands. The company was listed on the stock exchanges earlier this year.
Shadowfax currently operates across more than 16,372 pincodes and plans to expand its dark-store network from 47 to 100 by March 2027 as it looks to strengthen its presence in quick commerce.
The latest bulk deal represents another reduction in TPG-backed NewQuest’s holding in Shadowfax as the investor continues to monetise part of its stake in the listed logistics company.
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