Eight Roads, 2 others to sell stake in Shadowfax

Eight Roads Investments, Flipkart, and IMM India Fund are collectively selling up to a 9% stake in Shadowfax.

The stake sale is valued at around $108 million, with a floor price of Rs 197 per share, a 9.8% discount to Shadowfax's closing price.

Flipkart holds about 7.3% in Shadowfax, while Eight Roads Investments has a near 10% stake.

The sale coincides with the expiry of the six-month lock-in period for major pre-IPO investors.