Shadowfax sees ownership reshuffle as Flipkart cuts stake, ICICI Prudential MF buys more

Flipkart has reduced its stake in Shadowfax Technologies Ltd to 1.52% after selling more than 3.37 crore shares through an open market transaction, according to a stock exchange filing. In a separate filing, ICICI Prudential Mutual Fund said it increased its holding in the logistics company to 8.56% after acquiring shares between February and July.

Flipkart's transaction, carried out on 24 July, reduced its holding from 7.29% to 1.52%, or from 4.26 crore shares to 89.05 lakh shares. On a diluted basis, its stake fell from 7.14% to 1.49%.

Flipkart slashes holding through open market sale

According to the filing, Flipkart sold 3,37,38,852 equity shares of Shadowfax in an open market transaction on 24 July, reducing its holding from 4,26,43,520 shares, or 7.29% of the company's voting share capital, to 89,04,668 shares, representing 1.52%. On a diluted basis, its stake declined from 7.14% to 1.49%.

Following the transaction, Flipkart continues to hold 89.05 lakh shares in Shadowfax. The filing did not disclose the value of the transaction, the identity of the buyer, or the reason for the stake sale.

The disclosure was made under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, which requires investors to report changes in shareholding beyond the prescribed thresholds.

ICICI Prudential MF builds stake to over 8.5%

In a separate filing, ICICI Prudential Mutual Fund said it made a net acquisition of 2.03 crore equity shares of Shadowfax between 18 February and 24 July 2026, increasing its holding from 5.15% to 8.56% of the company's voting capital. Its diluted shareholding rose from 4.99% to 8.39% during the period.

The fund said it purchased a net 89.44 lakh shares on 24 July, taking its holding beyond the disclosure threshold. It added that the acquisition was made under various schemes and investment strategies and was undertaken solely from an investment perspective, without the objective of acquiring any controlling interest in the company. The purchases were executed through the open market.

ICICI Prudential Mutual Fund also noted that Shadowfax's paid-up capital increased between its previous disclosure on 18 February and the latest acquisition, which affected the percentage calculation of its shareholding.

Shares of Shadowfax Technologies were trading at ₹207.57 apiece at 12:25 pm on Tuesday, down 0.97% from their previous closing price of ₹209.60.

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