ICICI Prudential MF Raises Shadowfax Stake To 8.56% After Buying 89 Lakh Shares

ICICI Prudential Mutual Fund increased its stake in listed logistics company Shadowfax to 8.56% after acquiring a net 89.44 Lakh shares through an open market transaction

Based on Shadowfax's closing share price of ₹214.35 on July 24, the latest acquisition was valued at about ₹192 Cr

According to an exchange filing, the mutual fund cumulatively acquired 2.03 Cr shares in Shadowfax since its previous disclosure on February 18

Based on Shadowfax’s closing share price of ₹214.35 on July 24, the latest acquisition was valued at about ₹192 Cr.

According to an exchange filing, the mutual fund cumulatively acquired 2.03 Cr shares in Shadowfax since its previous disclosure on February 18, taking its holding to 5 Cr shares, or 8.56% of the company’s paid-up share capital, from 5.15% earlier.

The latest transaction came on the day existing shareholders Flipkart and Eight Roads Ventures offloaded sizable stakes in Shadowfax through bulk deals. Flipkart sold 3.37 Cr shares worth nearly ₹690 Cr in the company, while Eight Roads Ventures sold 4.7 Cr shares across two bulk deals at average prices of ₹204.62 and ₹204.88 per share, taking the combined deal size to about ₹964 Cr.

Shadowfax made its stock market debut in January this year. The shares listed at ₹113 apiece on the BSE, a discount of 8.87% to the IPO issue price of ₹124.

However, the stock has surged about 84% from its listing price. At 12:22, Shadowfax shares were trading 0.91% lower at ₹207.90 on the BSE. The company’s market capitalisation stood at ₹12,165 Cr (about $1.2 Bn).

The rise in the stock price was driven by the company’s strong financial performance. Shadowfax became profitable in Q4 FY26, reporting a consolidated net profit of ₹55.8 Cr as against a net loss of ₹9.9 Cr in the year-ago period. Revenue from operations increased 73.6% to ₹1,237 Cr from ₹712.4 Cr in the same period last year.

The company is scheduled to release its financials for Q1 FY27 on July 31 (Friday).