Shadowfax to acquire full stake in Criticalog India

Shadowfax Technologies has announced that it will acquire the remaining equity stake in Criticalog India (CIPL), making the company a wholly owned subsidiary.

The acquisition is being carried out under a share purchase agreement signed on November 22, 2024, with CIPL, Logon Investments GmbH and the founders of CIPL. The company had earlier acquired two tranches of shares, including 6,716 equity shares and 15,417 preference shares, representing 89.59 percent of CIPL’s total shareholding on a fully diluted basis, for a consideration of ₹481.55 million.

With the acquisition of the final tranche of 2,572 equity shares, representing 10.41 percent of the paid-up share capital, Shadowfax will complete the transaction and take full ownership of CIPL. The acquisition is expected to be completed in April 2026 and will be made through cash consideration.

The transaction falls within the definition of a related party transaction. However, apart from the existing shareholding held by the company in CIPL, the promoter group does not have any interest in the transaction.

CIPL operates in the logistics sector, with services including freight management, air and road express delivery, freight forwarding, intermodal transportation, warehousing, customs clearance, trade compliance and supply chain management. The acquisition is aimed at strengthening Shadowfax’s capacity to handle high-value and critical shipments as part of its strategic initiatives.

CIPL reported a turnover of ₹1,080.53 million in FY25, compared with ₹919.94 million in FY24 and ₹929.23 million in FY23, and operates in India.