Qualcomm sells 1% stake in Shadowfax for $19M
Qualcomm Ventures has sold a 0.98% stake in Indian logistics tech company Shadowfax Technologies for Rs 157 crore (about $19 million), offloading roughly 5.7 million shares in a bulk deal. The sale comes as Shadowfax's stock price and profits have surged since its listing earlier this year. Qualcomm had previously trimmed its stake in August. Buyer details weren't disclosed.
- Qualcomm sold 0.98% of Shadowfax for Rs 157 crore
- Shares sold at Rs 275.3 each, a slight discount to market
- Shadowfax shares are up over 120% in six months
- Net profit surged 8x year-on-year last quarter
- Buyer of this latest stake was not identified
Sources covering this
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