Cyril Amarchand Mangaldas Advises Morgan Stanley on Shadowfax Technologies Share Sale

• Cyril Amarchand Mangaldas advised Morgan Stanley India on the sale of Shadowfax Technologies shares.
• Eight Roads Investments Mauritius II Limited sold 41.61 million equity shares through screen-based trades on NSE and BSE.
• The transaction involved a total consideration of ₹852.55 crore, marking a significant event in Indian startup landscape.
• Cyril Amarchand Mangaldas played a crucial role in ensuring regulatory compliance and tax implications were addressed.

The sale highlights the growing trend of foreign investments in Indian startups, which may require careful consideration of regulatory compliance and tax implications.

On July 24, 2026, a significant transaction took place in the Indian startup ecosystem. Eight Roads Investments Mauritius II Limited sold 41.61 million equity shares of Shadowfax Technologies Limited through screen-based trades on both the National Stock Exchange (NSE) and BSE (formerly Bombay Stock Exchange). The sale was facilitated by Morgan Stanley India, with Cyril Amarchand Mangaldas serving as their Indian legal counsel.

The transaction involved a total consideration of ₹852.55 crore, marking a notable event in the Indian startup landscape.

This sale highlights the growing trend of foreign investments in Indian startups. As more international investors look to participate in India's burgeoning startup scene, it is essential for them to be aware of the regulatory compliance and tax implications involved. In this case, Cyril Amarchand Mangaldas played a crucial role in ensuring that Morgan Stanley India navigated these complexities effectively.

The involvement of Eight Roads Investments Mauritius II Limited, a foreign entity, underscores the need for careful consideration of cross-border transactions. Indian law firms like Cyril Amarchand Mangaldas are well-positioned to provide expert guidance on such matters.

The sale of Shadowfax Technologies shares by Eight Roads Investments Mauritius II Limited is a significant development in the Indian startup ecosystem. As foreign investments continue to grow, it is essential for lawyers and investors to be aware of the regulatory and tax implications involved. This transaction serves as a reminder of the importance of careful planning and compliance when navigating cross-border transactions.

The expertise of Cyril Amarchand Mangaldas in handling such complex matters will undoubtedly be valuable to Morgan Stanley India and other international investors looking to participate in India's startup scene.

Lawyers should note that this transaction highlights the growing trend of foreign investments in Indian startups, which may require careful consideration of regulatory compliance and tax implications.

Source: Original reporting via SCC Times