Shadowfax Technologies shares were trading at ₹207.57 apiece at 12:25 PM on Tuesday, down 0.97% from their previous closing price of ₹209.60. This represents a continued decline from the 7% crash experienced on Friday when the stock hit an intraday low of ₹203.85 following a major block deal worth ₹1,938 crore. The latest trading data shows the stock has stabilized somewhat but remains under pressure from the significant stake sales by major investors.
Flipkart Internet has completed its exit from Shadowfax Technologies by selling 3.37 crore shares through an open market transaction on July 24, reducing its holding from 7.29% to just 1.52%. According to stock exchange filings, Flipkart sold 3,37,38,852 equity shares at an undisclosed price, bringing its total stake down from 4.26 crore shares to 89.05 lakh shares. On a diluted basis, Flipkart's stake fell from 7.14% to 1.49%. The filing did not disclose the value of the transaction, the identity of the buyer, or the reason for the stake sale, but was made under SEBI regulations requiring reporting of changes beyond prescribed thresholds.
ICICI Prudential Mutual Fund has significantly increased its stake in Shadowfax Technologies by acquiring 2.03 crore equity shares between February 18 and July 24, 2026. The fund increased its holding from 5.15% to 8.56% of the company's voting capital, with diluted shareholding rising from 4.99% to 8.39%. ICICI Prudential purchased a net 89.44 lakh shares on July 24 alone, taking its holding beyond the disclosure threshold. The fund noted that the acquisition was made under various schemes and investment strategies, undertaken solely from an investment perspective without any controlling interest objective, and executed through open market purchases.
Shadowfax Technologies shares crashed as much as 7% on Friday, hitting an intraday low of ₹203.85 after a major block deal worth ₹1,938 crore was executed. According to Business Standard, a total of 9.3 crore shares, representing 16.2% equity, changed hands at an average price of ₹206 per share in multiple block deals on July 24. The floor price of the transaction was set at ₹197 per share, representing a discount of up to 9.87% to the last closing price. The stake sale coincides with the expiry of the six-month lock-in period for major pre-IPO investors after the company listed in January this year. The trading volume remained exceptionally high with 156.95 million shares changing hands as of 11:11 AM, according to exchange data.
Back in May, Shadowfax Technologies Co-Founder and CEO Abhishek Bansal projected the company expects 27-30% growth over the next few years after reporting 69% revenue growth last year. As reported by CNBC TV18, the company expects to continue growing faster than the overall logistics market. Shadowfax also expects profitability to improve by 100-120 basis points annually over the next few years, supported by earlier investments in assets and real estate.
The company's Prime Large business, focused on heavier shipments, is expected to continue growing in healthy triple digits as Shadowfax expands pin-code coverage and categories. According to CNBC TV18, its Criticalog business, which handles high-value deliveries such as jewellery and electronics, is expected to grow 25-30% annually as integration under a common brand progresses. The D2C category grew almost two and a half times year on year, with the company expecting continued momentum.
