Flipkart Sells Shadowfax Stake, ICICI Prudential MF Ups Holding To 8.56%

Flipkart has cut 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 raised its holding in the logistics company to 8.56% after acquiring shares between February and July.

The transaction, carried out on July 24, reduced Flipkart's 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%.

According to the filing, Flipkart sold 3,37,38,852 equity shares of Shadowfax in the open market transaction. Following the sale, Flipkart continues to hold 89.05 lakh shares in the company. The filing did not disclose the transaction value, the identity of the buyer, or the reason behind 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 prescribed thresholds.

ICICI Prudential MF Raises Stake

In a separate filing, ICICI Prudential Mutual Fund said it made a net acquisition of 2.03 crore equity shares of Shadowfax between February 18 and July 24, 2026, raising 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 same period.

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

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

Shares of Shadowfax Technologies closed at ₹207.45 on Tuesday, down 1.12% from the previous closing price of ₹209.60.