Flipkart, Eight Roads Sell Shadowfax Shares Worth ₹1,654 Cr in Bulk Deal

Early investors in listed logistics company Shadowfax continued to monetise their holdings as Walmart-owned Flipkart and Eight Roads Ventures together sold shares worth ₹1,654.4 crore through bulk deals. The transactions come after Shadowfax posted a profitable FY26 and underline the ongoing exit strategy of early backers following the company's stock market debut.

According to NSE data, Flipkart sold 3.37 crore Shadowfax shares at an average price of ₹204.45 apiece, raising around ₹690 crore. Meanwhile, Fidelity-backed Eight Roads Ventures offloaded 4.7 crore shares through two bulk deals at average prices of ₹204.62 and ₹204.88 per share, garnering about ₹964.4 crore.

Together, the two investors divested shares worth ₹1,654.4 crore, although the identities of the buyers were not disclosed by the exchange.

This marks Flipkart's second stake sale in Shadowfax this year. The ecommerce company had earlier sold shares worth ₹400 crore during Shadowfax's initial public offering (IPO). The latest transaction represents another partial exit by the retailer, which has been steadily monetising investments across its portfolio. Since November last year, Flipkart has also pared stakes in BlackBuck, Flying Machine and Aditya Birla Lifestyle Brands.

The stake sale follows a strong financial performance by Shadowfax in FY26. The company reported a 69.1 percent year-on-year increase in revenue and posted a net profit of ₹112 crore, marking a significant turnaround while strengthening its position in India's third-party logistics market.

In the March quarter alone, Shadowfax recorded revenue of ₹1,237 crore, up 73.6 percent year on year, while net profit stood at ₹55.8 crore compared with a loss of ₹9.9 crore in the corresponding period last year.

Founded in 2015, Shadowfax operates a nationwide logistics network catering to ecommerce, quick commerce and direct-to-consumer brands. Since listing on the stock exchanges earlier this year, the company has continued to diversify beyond traditional ecommerce deliveries into quick commerce, same-day shipping, premium freight and fulfilment services.

Shadowfax currently serves more than 15,600 pin codes through a network of 2.6 lakh delivery partners. As part of its expansion strategy, the company plans to scale its network of dark stores from 15 to 100 during FY27 to strengthen its quick commerce capabilities.