Shadowfax slides nearly 5% as Flipkart, Eight Roads and IMM plan 9.1% stake sale
Shadowfax Technologies shares fell nearly 5% after Flipkart, Eight Roads Investments and IMM India Fund proposed selling about 9.1% equity in a Rs 1,048 crore block deal at a Rs 197 floor price, roughly 10% below the prevailing market price.
Shadowfax shares fell nearly 5% as Flipkart, Eight Roads Investments and IMM India Fund planned to sell about 9.1% through a Rs 1,048 crore block deal after a major lock-in expiry freed shares for trading.
Why this matters
The proposed sale follows recent signals that Eight Roads and Flipkart were among sellers in a ₹1,048 crore Shadowfax block trade and that investors offered up to 9.08% in a ₹1,047.5 crore block deal.
Retail-company signals are accelerating, up 1,071,000% QoQ.