Logistics startup Shadowfax Technologies saw a fresh block of its equity change hands on 6 October 2026, as NewQuest Asia Fund IV (Singapore), managed by TPG, sold 40 lakh shares in open-market transactions worth ₹114.8 crore at ₹287 per share — about 0.68% of paid-up equity. (One report citing BSE data puts the transaction at ₹113.6 crore at ₹284.03 per share; figures vary slightly by source.)
The sale continues a steady exit. Since July 2026, NewQuest has trimmed its stake by 4.86 percentage points — roughly 2.85 crore shares — down from 11.53% as of June 2026. Earlier, the fund sold about ₹300 crore worth of shares in August and ~₹200 crore in September, making this its fourth sell-down this year.
Shadowfax shares closed the day about 0.36% lower at ₹288 on the NSE, showing the market absorbed the block without drama.
Why it matters for founders
Secondary sell-downs by late-stage investors are a normal part of the liquidity cycle — and the open market keeps absorbing them. For founders, it’s a signal: clean secondaries don’t have to tank your cap table if the underlying business story holds.