Why Did Mirae Asset Trim Its Stake In Shadowfax?
Mirae Asset Late Stage Opportunities Fund has sold a 0.97% stake in logistics unicorn Shadowfax through a bulk deal worth nearly Rs 120 crore, according to BSE data.
The fund offloaded 56.5 lakh shares at Rs 212 per share, taking the total transaction value to approximately Rs 119.8 crore.
The latest sale represents a partial exit by one of Shadowfax’s institutional investors and comes after the company’s shares witnessed a sharp rally following their stock market debut.
How Much Stake Does Mirae Asset Continue To Hold?
As of March 2026, Mirae Asset collectively owned a 6.73% stake in Shadowfax through multiple investment funds.
Following the latest transaction, the asset manager’s holding has reduced by approximately 0.97%, although it continues to remain one of the company’s significant institutional shareholders.
The sale appears to be a portfolio rebalancing move rather than a complete exit from the logistics startup.
What Does Shadowfax Do?
Founded in 2015 by Abhishek Bansal, Vaibhav Khandelwal, Gaurav Jaithliya, and Praharsh Chandra, Shadowfax operates a technology driven last-mile and hyperlocal logistics platform.
The company provides delivery services to ecommerce marketplaces, quick commerce companies, direct-to-consumer (D2C) brands, and enterprise clients across India.
Shadowfax competes with major logistics companies including Delhivery, XpressBees, Ecom Express, and Ekart in India’s rapidly expanding logistics and quick-commerce ecosystem.
How Did Shadowfax Perform Financially?
Shadowfax reported strong financial performance during the fourth quarter of FY26.
The company posted a 74% year-on-year increase in operating revenue, which rose to Rs 1,237 crore from Rs 712 crore in the corresponding quarter of the previous year.
More importantly, the logistics platform turned profitable during the quarter, reporting a net profit of Rs 56 crore compared with a net loss of Rs 10 crore in Q4 FY25. The improvement reflects stronger operating leverage and continued growth in delivery volumes across ecommerce and quick-commerce segments.
How Has Shadowfax Stock Performed Since Listing?
Shadowfax had a relatively subdued stock market debut earlier this year, with its shares listing at a discount of around 9% to the IPO price.
However, investor sentiment has improved significantly over the past two months.
The company’s share price has nearly doubled to Rs 230.50, taking its market capitalization to approximately Rs 13,484 crore. The recent appreciation has likely provided an opportunity for early investors such as Mirae Asset to partially monetize their holdings while retaining exposure to the company’s long-term growth.
What Does The Bulk Deal Indicate?
Bulk deals by institutional investors are common after a company’s public listing and often reflect portfolio management strategies rather than concerns over business fundamentals.
Shadowfax continues to benefit from growing demand for ecommerce, hyperlocal deliveries, and quick-commerce logistics in India. Its improving financial performance and profitability suggest the company is strengthening its position in one of the country’s fastest-growing logistics segments.
