The Shadowfax stake sale by NewQuest Asia Fund IV (Singapore) Pte. Ltd. comprised 1,50,00,396 equity shares sold through the open market during September 2026, according to a BSE filing posted on October 5, 2026. The transactions reduced the investor’s holding in Shadowfax Technologies Ltd to 6.69% from 9.26%.

The disclosure, dated October 2, stated that the shares sold represented 2.56% of the company’s total share and voting capital. NewQuest held 5,41,62,092 shares before the disposals and retained 3,91,61,696 shares afterwards. The filing identifies NewQuest as a shareholder outside the promoter and promoter group.

The September 30 transaction, together with the four earlier sales that month, cumulatively crossed the 2% disclosure threshold prescribed under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

Five open-market sales during September

NewQuest disclosed the following transactions in Shadowfax shares:

  • September 1, 2026: 20,00,000 equity shares sold.
  • September 4, 2026: 10,00,000 equity shares sold.
  • September 7, 2026: 396 equity shares sold.
  • September 8, 2026: 80,00,000 equity shares sold.
  • September 30, 2026: 40,00,000 equity shares sold.

The 80,00,000-share sale on September 8 was the largest of the five disclosed transactions by volume. The filing specifies open-market sales as the mode of disposal but does not provide transaction prices or the aggregate proceeds received by NewQuest.

The disclosure was addressed to BSE, the National Stock Exchange of India and Shadowfax. It was signed in Singapore by Vince Tan, Director of NewQuest Asia Fund IV (Singapore) Pte. Ltd.

Share capital unchanged after disposals

Shadowfax’s equity share capital remained ₹5,85,08,46,200 before and after the sales, comprising 58,50,84,620 equity shares with a face value of ₹10 each.

On a diluted-capital basis, NewQuest’s holding declined from 9.07% to 6.56%, with the shares sold representing 2.51%. The disclosed diluted capital includes 1,19,39,835 employee stock options convertible into an equal number of equity shares.

The filing reports total diluted share and voting capital of ₹5,97,02,44,550 after the disposals. All shareholding percentages in the disclosure are rounded to two decimal places.