Eight Roads, 2 others to sell stake in Shadowfax

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Eight Roads, 2 others to sell stake in Shadowfax

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July 24, 2026

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Eight Roads, 2 others to sell stake in Shadowfax

Fidelity International-backed Eight Roads Investments, Flipkart and IMM India Fund are collectively selling up to 9% stake in Shadowfax

MUMBAI: Fidelity International-backed Eight Roads Investments, Flipkart and IMM India Fund are collectively selling up to 9% stake in Shadowfax through block deals worth around $108 million (Rs 1,048 crore), the term sheet of the transaction showed.The floor price of the deal has been set at Rs 197 per share, about 9.8% discount to the company’s closing price of Rs 218.6 on NSE on Thursday. Flipkart which first invested in Shadowfax in 2019 holds about 7.3% in the firm while Eight Roads Investments has a near 10% stake in the logistics player, data as of July 20 showed.Shadowfax got listed on the bourses in Jan this year. IMM India Fund’s individual shareholding hasn’t been disclosed on the bourses.Earlier this month, an affiliate of Temasek offloaded up to 2.6% stake in Policybazaar parent PB Fintech through block deals worth about $200 million (Rs 1,908 crore) while in June, ADIA arm sold shares in Lenskart in a $204 million (Rs 1,944 crore) deal.The stake sale also coincides with the expiry of the six-month lock-in period for major pre-IPO investors.

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