Eight Roads Investments Mauritius II Limited (erstwhile FIL Capital Investments (Mauritius) II Ltd) has significantly reduced its stake in Shadowfax Technologies by selling 4,70,76,972 equity shares on July 24, 2026. The disposal, executed via an open market bulk deal mechanism, represents an 8.05% reduction in the company’s total voting capital and a 7.89% drop in its diluted voting capital. This substantial divestment brings Eight Roads’ holding down from 9.50% to just 1.45%, marking a major shift in the shareholder structure of the Bangalore-based logistics technology provider.

The sale was reported to the National Stock Exchange of India Ltd and BSE Limited under Regulation 29(2) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. As mandated by Regulation 29(3) of the SEBI Takeover Regulations, the disclosure was filed within two working days of the transaction date. The filing was submitted by FIL Technology (Dalian) Limited, acting on behalf of Eight Roads pursuant to a power of attorney dated July 27, 2026.

Transaction Details

The equity shares were sold through the Stock Exchanges Mechanism as a bulk deal. While the trade occurred on July 24, 2026, settlement was completed on July 27, 2026. Prior to this transaction, Eight Roads held 5,55,72,432 shares carrying voting rights, constituting 9.50% of the total share/voting capital and 9.31% of the total diluted share/voting capital of Shadowfax Technologies Limited.

Following the disposal, Eight Roads retains 84,95,460 shares, representing 1.45% of the total share/voting capital and 1.42% of the diluted share/voting capital. The seller does not belong to the promoter or promoter group of Shadowfax Technologies Limited. There were no encumbrances, pledges, liens, or non-disposal undertakings associated with the shares held or sold during this period.

Capital Structure Context

The percentages and holdings disclosed are calculated based on the total number of equity shares of Shadowfax Technologies Limited as of June 30, 2026. At that time, the company’s equity share capital stood at 58,50,84,620 shares with an aggregate amount of ₹5,85,08,46,200, based on a face value of ₹10 per equity share. The total diluted share/voting capital, assuming full conversion of outstanding convertible securities and warrants, was 59,70,24,455 shares, amounting to ₹5,97,02,44,550.

The filing was authorized by Mr Imtiyaz Khodabacksh, Authorised Signatory for Eight Roads Investments Mauritius II Limited, and signed by Alina Yu (aka Xiaorui (Alina) Yu), Regulatory Reporting Manager at FIL Technology (Dalian) Limited, who acted under the specific power of attorney granted by Eight Roads. The disclosure confirms that no warrants, convertible securities, or other instruments entitling the seller to receive shares were acquired or sold alongside the equity shares.

Shadowfax Technologies witnessed a substantial block trade on NSE/BSE, with the transaction valued at ₹1915.8Cr. The deal involved approximately 92519723 shares executed at a price of ₹206 per share at the open of trading.

Block Trade Details

The following table summarises the key parameters of the block trade:

Key Highlights

• The block trade was executed simultaneously on both NSE and BSE.
• Approximately 92519723 shares were transacted in the deal.
• The trade was executed at ₹206 per share at the market open.
• The aggregate value of the transaction stood at ₹1915.8Cr.

Block trades of this magnitude are typically executed between large institutional participants and are carried out outside the regular market order book to minimise price impact. The transaction represents a significant movement in Shadowfax Technologies shares across both major Indian stock exchanges.