TPG-backed NewQuest Asia Fund IV has offloaded another 1.36% stake in logistics startup Shadowfax for around Rs 200 crore through a bulk deal on the BSE. According to exchange data, NewQuest sold 80 lakh shares at Rs 250.03 apiece, while OxBow Master Fund bought 47.85 lakh shares at Rs 250 each, worth around Rs 119.6 crore. The transaction follows a similar deal in August, when NewQuest sold 1.25 crore Shadowfax shares at Rs 240.46 apiece for around Rs 300.6 crore. OxBow Master Fund had bought 69.32 lakh shares at Rs 240.25 apiece in that transaction worth Rs 166.5 crore. As of June 2026, NewQuest held an 11.53% stake in Shadowfax. Across the two transactions, it has sold around 2.05 crore shares worth over Rs 500 crore, while Oxbow acquired a 2% stake in the company. The latest deal comes as Shadowfax continues to see secondary-market activity following its public listing. In Q1 FY27, Shadowfax recorded a 65% year-on-year growth in operating revenue toRs 1,358 crore. Its profit also surged more than eightfold to Rs 65 crore during the quarter. At the end of Tuesday’s trading session, Shadowfax's share price closed at around Rs 249.8 on BSE, valuing the company at Rs 14,656 crore (approximately $1.54 billion). Bareback Media has recently raised funding from a group of investors. Some of the investors may directly or indirectly be involved in a competing business or might be associated with other companies we might write about. This shall, however, not influence our reporting or coverage in any manner whatsoever. You may find a list of our investorshere.
