Shadowfax Moves To Full Ownership Of Criticalog India With Final Tranche Acquisition
· Free Press Journal
Bengaluru: Shadowfax is tightening its grip on a key logistics asset, completing the final leg of a multi-stage acquisition to fully integrate Criticalog India into its operations.
Final Tranche Acquisition
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The company confirmed it is acquiring the remaining equity shares of Criticalog India Private Limited (CIPL) from its founders, completing the last tranche under a share purchase agreement signed in November 2024. As detailed on page 1, this step follows earlier acquisitions that had already secured a majority stake. With this transaction, CIPL will become a wholly owned subsidiary of Shadowfax, marking the completion of a phased acquisition strategy.
Earlier Stake Consolidation
Prior to this final tranche, Shadowfax had already acquired 6,716 equity shares, representing 72.31 percent of CIPL’s equity, along with 15,417 preference shares, accounting for 100 percent of preference capital. Together, these holdings represented 89.59 percent of the fully diluted shareholding, acquired for Rs. 481.55 million. The structured, multi-tranche approach allowed the company to gradually scale ownership while aligning integration efforts.
Shadowfax Consolidated Net Profit Surges Over 4x YoY To ₹34.86 Crore In Q3 FY26, Revenue Jumps 65%Strategic Logistics Expansion
CIPL operates in freight management, air and road express delivery, warehousing, and supply chain management, as outlined in Annexure A on page 3. By bringing the company fully under its fold, Shadowfax is strengthening its capabilities in handling complex and high-value logistics operations. Management indicated that the acquisition supports strategic initiatives aimed at enhancing service quality and expanding operational capacity in critical shipment segments.
Financial and Operational Context
CIPL reported a turnover of Rs. 1080.53 million for FY25, with historical revenues of Rs. 919.94 million in FY24 and Rs. 929.23 million in FY23, as shown in the table on page 4. The acquisition of the remaining 2,572 shares, representing 10.41 percent stake, is being executed through cash consideration.
Shadowfax Lists At 9% Discount, Shares Open ₹112-113 Vs ₹124 IPO Price On BSE/NSEThe deal also qualifies as a related party transaction, though promoters do not have any additional interest beyond existing shareholding. By completing the full acquisition of CIPL, Shadowfax is consolidating its logistics ecosystem, positioning itself to handle more complex supply chain requirements with greater control and efficiency.
Disclaimer: This article is based solely on the contents of the company’s regulatory filing and does not include independent verification or additional sources.