India, Oct. 7 -- TPG continues to dilute its shareholding in Shadowfax. The private equity (PE) giant has now sold more shares of the listed logistics company via an open-market transaction for Rs.114.8 Cr.

According to BSE data, the PE major, via its entity NewQuest Asia Fund IV (Singapore), sold 40 Lakh shares of Shadowfax at Rs.287 apiece to rake in the amount. There was no clarity on who lapped up the shares that flooded the market.

The bulk deal was undertaken at a discount of 0.3% to the stock's last closing price on Tuesday.

This is the fourth time that TPG has sold its stake in the logistics company in the past three months. Last week, the PE firm offloaded Shadowfax shares worth Rs.113.6 Cr. In September, the PE firm offloaded...