Eight Roads, Flipkart and IMM India Fund plan to sell up to 9% in Shadowfax
Eight Roads Investments, Flipkart and IMM India Fund are looking to sell up to 9% of logistics firm Shadowfax through block deals valued at about Rs 1,048 crore. The proposed sale follows the expiry of the six-month pre-IPO lock-in period for major investors.
Eight Roads Investments, Flipkart and IMM India Fund plan to sell up to 9% of Indian logistics firm Shadowfax via block deals worth about Rs 1,048 crore. The sale follows the expiry of the six-month lock-in for major pre-IPO investors.
Why this matters
The planned block sale follows Shadowfax stock nearly doubling since listing on Q4 revenue growth of 74% and express share of 27-29%, while Mirae Asset separately trimmed a 0.97% stake for Rs 120 crore.
Retail-company is accelerating, up 1,065,200% QoQ.