Qualcomm Exits Shadowfax Completely with a Rs 157 Crore Stake Sale, Closing a Journey That Began in 2018
Qualcomm Ventures has fully exited logistics company Shadowfax Technologies, selling its remaining 57.13 lakh shares, a 0.98% stake, through an open market transaction worth Rs 157.28 crore, according to BSE bulk deal data. The shares were sold at an average price of Rs 275.30 each, and Shadowfax stock closed at Rs 294.75 on the day, roughly flat to slightly lower.
Here’s how the exit played out in two steps. This latest sale follows an earlier one in August, when Qualcomm sold 75 lakh shares, a 1.28% stake, for Rs 183.85 crore at about Rs 245 per share. Across both transactions, Qualcomm has now sold Shadowfax shares worth roughly Rs 341 crore, after holding a 2.26% stake as of June 2026.
The story goes back a few years. Qualcomm Ventures first backed Shadowfax during its $22 million Series C round in 2018, investing alongside Mirae Asset and Eight Roads Ventures, which means this exit comes about eight years after the original bet. That timeline is fairly typical for venture investments, where early backers wait for the company to mature and list before selling.
Qualcomm is not the only early investor stepping back. TPG-backed NewQuest Asia Fund IV has also been selling Shadowfax shares through multiple bulk deals, and it still held an 11.53% stake at the end of June 2026. Shadowfax provides logistics services to e-commerce, quick-commerce and D2C brands, and has seen steady post-listing selling from its earlier institutional shareholders.
One thing worth keeping in mind: stake sales by early investors are usually part of a normal venture lifecycle, where funds return capital to their own investors, and they don’t automatically say anything negative about the business. What matters more is how the company performs and who steps in to buy.
From a $22 million Series C to a full public-market exit, Qualcomm’s Shadowfax journey is another example of India’s startup listings letting early backers finally cash out.
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— Sandeep Raiza