TPG offloads more Shadowfax shares in ₹115 cr bulk deal
Private equity firm TPG has sold additional shares of logistics startup Shadowfax in a ₹115 crore bulk deal, continuing a pattern of recent divestments. Inc42 reported the transaction, which follows a ₹114 crore open-market sale by TPG on 30 September.
The latest deal adds to a series of secondary transactions involving TPG and other institutional investors. Earlier this month, TPG exited its stake in FirstCry through a ₹202 crore bulk deal, while Accel and 360 ONE sold shares in BlueStone via block deals.
While TPG has not disclosed its motivations, such transactions often occur as investors seek liquidity or rebalance portfolios. For startups like Shadowfax, which operates in a competitive sector, these moves could prompt questions about investor confidence or market conditions. The logistics space has seen consolidation, and secondary activity has varied in recent months.
As TPG continues to reduce its holding, the focus may turn to how other stakeholders view Shadowfax’s prospects.
Sources: inc42.com
“TPG’s repeated share sales may signal a shift in its Shadowfax investment, reflecting broader trends in secondary transactions as institutional backers reassess holdings.”
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