Flipkart, Eight Roads Offload Shadowfax Shares Worth ₹1,654 Cr In Bulk Deal

Walmart-owned Flipkart has sold shares worth nearly ₹690 Cr in listed logistics company Shadowfax via a bulk deal, joining existing investor Eight Roads Ventures in monetising its investment. According to NSE data, Flipkart sold 3.37 Cr shares of Shadowfax at an average price of ₹204.45 apiece, taking the transaction value to about ₹690 Cr. On the other hand, Fidelity-backed Eight Roads also sold 4.7 Cr shares across two bulk deals at average prices of ₹204.62 and ₹204.88 per share.