TPG sells 80 lakh shares of logistics platform Shadowfax in Rs.200-Cr bulk deal

Private equity firm TPG, through its entity NewQuest Asia Fund IV (Singapore), has sold 80 lakh shares of Bengaluru-based logistics company Shadowfax in an open-market transaction. The shares were sold at a price of INR 250.03 per share, totalling about INR 200-Cr.Founded in 2015 by Abhishek Bansal and Vaibhav Khandelwal, Shadowfax operates a logistics network serving e-commerce, quick commerce, and D2C (direct-to-consumer) brands. The firm plans to expand its network of dark stores from 47 to 100 by March 2027 to strengthen its quick commerce operations.