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Newquest Asia Fund IV, an investment vehicle backed by global alternative asset manager TPG, sold shares worth Rs 113.61 crore in logistics technology company Shadowfax
Technologies through an open-market transaction on September 30.
The investor sold 40 lakh shares, representing a 0.68% stake in Shadowfax, at an average price of Rs 284.03 per share, according to bulk-deal data. Following the transaction, Newquest Asia Fund IV's holding in the company declined to 10.85% from 11.53%.
The latest sale adds to the investor’s stake reduction in Shadowfax during the current quarter. The TPG-backed fund has sold around 2.45 crore shares, reducing its holding by about 4.18 percentage points from the level recorded at the end of June 2026.
In a separate transaction, Kotak Mahindra Mutual Fund acquired a 3.59% stake in electronics manufacturing services company Avalon Technologies.
Kotak Mahindra Mutual Fund purchased 24.01 lakh Avalon shares at Rs 2,171 per share, taking the value of the transaction to around Rs 521.38 crore.
The purchase was part of a larger transaction in which three promoter entities of Avalon Technologies sold a combined 6% stake, comprising around 40.08 lakh shares, for approximately Rs 870.61 crore.
Following the transaction, the combined promoter holding in Avalon Technologies fell to around 38.4% from 44.39%.
Both transactions took place through bulk or open-market deals on September 30.
The investor sold 40 lakh shares, representing a 0.68% stake in Shadowfax, at an average price of Rs 284.03 per share, according to bulk-deal data. Following the transaction, Newquest Asia Fund IV's holding in the company declined to 10.85% from 11.53%.
The latest sale adds to the investor’s stake reduction in Shadowfax during the current quarter. The TPG-backed fund has sold around 2.45 crore shares, reducing its holding by about 4.18 percentage points from the level recorded at the end of June 2026.
In a separate transaction, Kotak Mahindra Mutual Fund acquired a 3.59% stake in electronics manufacturing services company Avalon Technologies.
Kotak Mahindra Mutual Fund purchased 24.01 lakh Avalon shares at Rs 2,171 per share, taking the value of the transaction to around Rs 521.38 crore.
The purchase was part of a larger transaction in which three promoter entities of Avalon Technologies sold a combined 6% stake, comprising around 40.08 lakh shares, for approximately Rs 870.61 crore.
Following the transaction, the combined promoter holding in Avalon Technologies fell to around 38.4% from 44.39%.
Both transactions took place through bulk or open-market deals on September 30.
