Shadowfax Technologies has accepted the resignation of Nitesh Lohiya as Chief Product Officer, effective August 07, 2026. The departure of this Senior Management Personnel (SMP) marks a leadership change in the product division, with Lohiya citing personal reasons and a shift in professional aspirations as the drivers for his exit. The company confirmed that he will be relieved from his duties at the close of business hours on Friday, August 7th, 2026.

The intimation was issued on July 31, 2026, in compliance with Regulation 30 and Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure was filed with both the National Stock Exchange of India Ltd and BSE Limited. Krishnakanth Venkata Gangavarapu, Company Secretary & Compliance Officer, signed the announcement.

Resignation Details

The company’s filing outlines the specific details of the transition as required under Para A of Part A of Schedule III of the SEBI Listing Regulations. The information is also available on the company’s investor relations website.

In his resignation letter addressed to Vaibhav Khandelwal, Chief Technology Officer, Lohiya stated that his decision was driven by a desire to move forward in a career direction that aligns more closely with his professional aspirations. He expressed gratitude to the management and team for their support during his tenure. The letter was copied to Mohan Sitharama MS, Chief Human Resource Officer.

What This Means for Stakeholders

The resignation of a Chief Product Officer is a material event for investors tracking executive stability and strategic continuity within Shadowfax Technologies. While the company has not disclosed immediate succession plans in this filing, the change in senior leadership may influence ongoing product development initiatives. The absence of a brief profile or relationship disclosure in the regulatory filing suggests no complex conflicts or prior director relationships were implicated in the departure. Investors should monitor subsequent announcements for any interim appointments or structural changes within the product leadership team.

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.