Qualcomm Ventures offloads 1.3 per cent stake in Shadowfax Technologies for Rs 184 crore

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Global investor Qualcomm Ventures has divested a 1.3 per cent stake in logistics solutions provider Shadowfax Technologies for Rs 184 crore through an open market transaction on Friday.

Qualcomm Ventures, through its affiliate Qualcomm Asia Pacific Pte Ltd, offloaded 75 lakh equity shares, representing a 1.28 per cent stake in Bengaluru-based Shadowfax Technologies, according to the bulk deal data on the BSE.

The shares were disposed of at an average price of Rs 245.13 apiece, taking the deal size to Rs 183.85 crore.
Qualcomm Ventures is the investment arm of US-based chip major Qualcomm.

Following the latest transaction, Qualcomm Ventures' holding in Shadowfax fell to nearly 1 per cent from 2.26 per cent.
Details of the buyers of Shadowfax Technologies' shares could not be ascertained on the exchange.

Shares of Shadowfax Technologies rose 0.43 per cent to close at Rs 255.45 apiece on the BSE.

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