Now Reading: Qualcomm sells Shadowfax shares worth Rs 184 crore in block deal
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Qualcomm sells Shadowfax shares worth Rs 184 crore in block deal
Qualcomm sells Shadowfax shares worth Rs 184 crore in block deal
Qualcomm Ventures sold 75 lakh shares of logistics company Shadowfax in a block deal on Sunday, August 23, raising Rs 183.85 crore. The shares were sold at Rs 245.13 apiece, a 6.2%…
Qualcomm Ventures sold 75 lakh shares of logistics company Shadowfax in a block deal on Sunday, August 23, raising Rs 183.85 crore. The shares were sold at Rs 245.13 apiece, a 6.2% discount to the previous closing price of Rs 255.45. Qualcomm Asia Pacific Pte Ltd owned a 2.26% stake in Shadowfax as of June 2026.
The block deal follows a series of sell-offs by early investors. TPG sold 1.25 crore shares worth nearly Rs 300.6 crore through an open-market transaction. Earlier, Flipkart offloaded 3.37 crore shares for about Rs 690 crore, while Eight Roads sold 4.7 crore shares across two bulk deals worth Rs 964.4 crore.
Shadowfax, which listed on the NSE in January at a discount of 9.19%, operates a logistics network across over 15,600 pin codes with 2.6 lakh delivery partners. The company plans to increase its dark stores from 15 to 100 in FY27 to strengthen its quick commerce business. Shares ended Monday 1.9% higher at Rs 260.30 on the BSE.
Indian Opinion Analysis
The rapid exit of early backers like Qualcomm, TPG and Eight Roads within months of Shadowfax's listing signals a typical private equity cycle of cashing out post-IPO rather than a vote of no confidence. Shadowfax competes in the hyper-competitive quick commerce logistics space alongside players such as Shiprocket and Delhivery. The company's plan to expand dark stores to 100 by FY27 is capital-intensive and depends on sustained revenue growth. The next signal for investors will be Shadowfax's Q2 FY27 results, due in November, which will show whether the dark store expansion is gaining traction without eroding margins.
Source: inc42.com
This story was synthesised by AI from the source linked above.
