Shadowfax Technologies fell 4.6% to Rs 208.50 on Friday, after early investors launched a Rs 1,047.5 crore block deal at a discount.

The pressure came from a large block deal. Eight Roads, Flipkart and IMM India Fund, three early backers of the company, are looking to sell up to a 9.08% stake between them.

The floor price has been set at Rs 197 a share, which works out to a discount of nearly 9.87% to where the stock was trading.

None of the money raised goes to Shadowfax itself, since this is existing investors selling down their holding, not a fresh share issue. Whatever stake the sellers keep after the deal will carry a 90-day lock-in.

On the business side, the company’s most recent quarterly filing shows some improvement.

For the quarter ended March 2026, revenue came in at Rs 1,205.81 crore and net profit at Rs 55.27 crore, both up from Rs 1,128.14 crore and Rs 36.53 crore in the December quarter.

Operating margin also inched up to 7.84% from 6.34% over the same period. For the full year FY26, Shadowfax reported revenue of Rs 4,080.35 crore and a net profit of Rs 115.18 crore.

Speaking in May, co-founder and CEO Abhishek Bansal had said he expects revenue growth of 27-30% over the next few years, building on 69% growth the year before, with profitability improving by 100 to 120 basis points annually as earlier investments in assets start paying off.

Shadowfax runs a tech-enabled logistics network used by e-commerce, quick commerce and D2C brands for last-mile deliveries, and listed on the exchanges at a discount to its IPO price.

As of 10:20 am, Shadowfax shares were trading at Rs 208.95 on the BSE, down 4.39% from the previous close of Rs 218.55.

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