Global investor Qualcomm Ventures divested nearly a 1 per cent stake in logistics solutions provider Shadowfax Technologies for ₹157 crore through an open market transaction on Monday.
Qualcomm Ventures, through its affiliate Qualcomm Asia Pacific Pte Ltd, sold a little over 57.13 lakh shares, representing a 0.98 per cent stake, in Bengaluru-based Shadowfax Technologies, according to bulk deal data on the BSE.
The shares were sold at an average price of ₹275.30 per share, taking the deal value to ₹157.28 crore.
Qualcomm Asia Pacific is a regional corporate affiliate and investment arm of US-based semiconductor and wireless technology major Qualcomm.
At the end of the June quarter, Qualcomm Asia Pacific Pte Ltd owned a 2.26 per cent stake in the company, according to shareholding data on the exchange.
Details of the buyers could not be identified.
Shadowfax Technologies’ shares ended marginally lower at ₹294.75 apiece on the BSE.
In August, Qualcomm Ventures sold a 1.3 per cent stake in Shadowfax for ₹184 crore.