Now Reading: TPG Sells Rs 301 Crore Shadowfax Shares in Bulk Deal
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TPG Sells Rs 301 Crore Shadowfax Shares in Bulk Deal
TPG sold 1.25 crore Shadowfax shares for Rs 300.6 crore through its entity NewQuest Asia Fund IV, according to BSE data reported by Inc42. Hong Kong-based hedge fund Oxbow bought 69.3 lakh…
The Story in Brief
TPG sold 1.25 crore Shadowfax shares for Rs 300.6 crore through its entity NewQuest Asia Fund IV, according to BSE data reported by Inc42. Hong Kong-based hedge fund Oxbow bought 69.3 lakh shares for Rs 166.5 crore, while the buyers of the remaining shares were not disclosed.
The sale follows stake exits by Flipkart and Eight Roads, which together sold shares worth nearly Rs 1,654 crore. Shadowfax’s stock has risen 43.5% in three months after its June quarter profit rose eightfold to Rs 65.4 crore. Revenue grew 65% year on year to Rs 1,358.1 crore, prompting the company to raise its FY27 revenue growth forecast to 38-40%.
The Indian Opinion
The easy story is that early investors are abandoning Shadowfax, or that a rising stock proves the business is now unstoppable. Neither conclusion follows from these deals alone. Sellers may be booking gains, while the company’s profit and revenue numbers show real momentum. The sharper test is whether Shadowfax can deliver its upgraded 38-40% FY27 growth forecast as more shares enter public hands.
Source: inc42.com
This story was synthesised by AI from the source linked above.
