Flipkart, Eight Roads Sell ₹1,654 Crore Worth of Shadowfax Shares in Major Block Deal

Eight Roads Investments Mauritius II and Flipkart Internet, the Walmart-owned e-commerce company, together sold 13.8% stake in Shadowfax Technologies Ltd. through bulk deals worth approximately ₹1,654 crore on July 24, 2026. The stake sale triggered selling pressure in the logistics company's shares, which fell more than 4% intraday before recovering some losses to close 1.88% lower on the National Stock Exchange.

According to exchange bulk deal data, the two investors collectively sold over 8 crore shares, reducing their holdings in one of India's leading logistics companies. The transactions come just months after Shadowfax made its stock market debut through its IPO earlier this year.

Apart from Shadowfax, the day also witnessed notable bulk deals in Sudeep Pharma, Caliber Mining and Logistics, and Gandhar Oil Refinery India, with institutional investors including SBI Mutual Fund, Carnelian Asset Management, Goldman Sachs, and Societe Generale actively participating in the market.

Eight Roads and Flipkart Offload Shadowfax Shares

Exchange data showed that Eight Roads Investments Mauritius II sold 4.16 crore shares at ₹204.88 per share and another 54.64 lakh shares at ₹204.62 per share, taking its total stake sale to 8.04%, valued at ₹964.37 crore.

Flipkart Internet sold 3.37 crore shares, representing a 5.76% stake, at ₹204.45 per share, with the transaction valued at approximately ₹689.79 crore.

Shadowfax Bulk Deal Details

Seller	Stake Sold	Shares Sold	Price per Share	Deal Value
Eight Roads Investments Mauritius II	8.04%	4.70 crore	₹204.62–₹204.88	₹964.37 crore
Flipkart Internet	5.76%	3.37 crore	₹204.45	₹689.79 crore
Total	13.80%	Over 8 crore	-	₹1,654 crore

Shadowfax Shares Recover After Early Decline

Shadowfax shares reacted to the large stake sale by falling more than 4% during early trade, touching an intraday low of ₹209. Buying interest later helped the stock recover part of its losses, and it eventually closed at ₹214.48, down 1.88% for the day.

The stock traded between a day's high of ₹217.40 and a day's low of ₹204.25, with 15.84 crore shares changing hands on the NSE, indicating significantly higher trading activity following the bulk deals.

Shadowfax Share Price Snapshot

Metric	Value
Closing Price	₹214.48
Day's Change	-1.88%
Day High	₹217.40
Day Low	₹204.25
NSE Volume	15.84 crore shares

Shareholding Before the Stake Sale

As of June 2026, Eight Roads Investments Mauritius II held a 9.5% stake (5.55 crore shares) in Shadowfax, while Flipkart Internet owned 7.29% (4.26 crore shares).

Both investors were also among the company's largest shareholders at the time of its January 2026 IPO, when Eight Roads held 14.15% and Flipkart owned 14.83%.

SBI Mutual Fund Increases Stake in Sudeep Pharma

Apart from Shadowfax, SBI Mutual Fund acquired an additional 20 lakh shares, representing a 1.77% stake, in Sudeep Pharma from Nuvama for approximately ₹160 crore at ₹800 per share.

The sellers included Nuvama Crossover Opportunities Fund – Series III, which sold 10.6 lakh shares, and Series IIIA, which offloaded 9.4 lakh shares. Following the transaction, Sudeep Pharma shares closed 1.21% higher at ₹825.15 on the NSE.

Carnelian and Goldman Sachs Buy Into Caliber Mining

Caliber Mining and Logistics, which recently completed its ₹450 crore IPO, witnessed strong institutional buying as Carnelian Asset Management & Advisors, backed by Vikas Khemani, acquired 20 lakh shares (3.05% stake) at ₹494.85 per share for ₹98.97 crore, while Goldman Sachs Bank Europe SE ODI purchased 3.34 lakh shares (0.51% stake) at ₹497.94 per share, investing around ₹16.65 crore. The positive investor interest came as the stock surged 24.57% on its market debut to close at ₹528.20.

Societe Generale Increases Exposure to Gandhar Oil

Societe Generale further increased its exposure to Gandhar Oil Refinery India by purchasing 8.53 lakh shares, representing a 0.87% stake, at ₹288.97 per share through a bulk deal worth approximately ₹24.65 crore. The stock ended the session 0.18% higher at ₹282.45, extending gains after a strong rally following the company's Q1 FY27 earnings.

Key Bulk Deals on July 24

Company	Investor	Transaction	Value
Shadowfax Technologies	Eight Roads Investments	Sold 8.04% stake	₹964.37 crore
Shadowfax Technologies	Flipkart Internet	Sold 5.76% stake	₹689.79 crore
Sudeep Pharma	SBI Mutual Fund	Bought 1.77% stake	₹160 crore
Caliber Mining	Carnelian Asset Management	Bought 3.05% stake	₹98.97 crore
Caliber Mining	Goldman Sachs Bank Europe SE ODI	Bought 0.51% stake	₹16.65 crore
Gandhar Oil Refinery	Societe Generale	Bought 0.87% stake	₹24.65 crore

Why did Shadowfax shares fall on July 24?

Shadowfax shares declined after Eight Roads Investments and Flipkart Internet together sold 13.8% stake through bulk deals worth approximately ₹1,654 crore, leading to increased selling pressure.

How much stake did Flipkart sell in Shadowfax?

Flipkart Internet sold 3.37 crore shares, representing a 5.76% stake, through a bulk deal worth around ₹689.79 crore.

Who bought shares in Sudeep Pharma?

SBI Mutual Fund acquired an additional 1.77% stake in Sudeep Pharma by purchasing 20 lakh shares from Nuvama funds.

Which investors bought Caliber Mining shares?

Carnelian Asset Management & Advisors and Goldman Sachs Bank Europe SE ODI purchased shares in Caliber Mining and Logistics following its stock market listing.