CosmicTaco

Blackbuck Files IPO Prospectus for Rs 550 Crore Fresh Issue

CosmicTaco · 2024-07-10T15:51:10.148366+05:30

- Blackbuck, a logistics unicorn, has filed a draft red herring prospectus for a fresh issue of Rs 550 crore and an offer for sale of 2.16 crore shares. - Key investors selling shares in the IPO include Accel (52 lakh shares), Tiger Global (9 lakh shares), Flipkart (4 lakh shares), and IFC (17 lakh shares). - Founders Rajesh Yabaji, Chanakya Hridaya, and Ramasubramanian Balasubramaniam will also sell a combined total of 44 lakh shares. - Blackbuck's revenue rose 69% from Rs 176 crore in FY23 to Rs 297 crore in FY24, while net loss narrowed from Rs 290 crore to Rs 194 crore. - The IPO proceeds will fund marketing, product development, its NBFC arm, and general corporate purposes.

Blackbuck, a logistics unicorn, has filed a draft red herring prospectus for a fresh issue of Rs 550 crore and an offer for sale of 2.16 crore shares.
Key investors selling shares in the IPO include Accel (52 lakh shares), Tiger Global (9 lakh shares), Flipkart (4 lakh shares), and IFC (17 lakh shares).
Founders Rajesh Yabaji, Chanakya Hridaya, and Ramasubramanian Balasubramaniam will also sell a combined total of 44 lakh shares.
Blackbuck's revenue rose 69% from Rs 176 crore in FY23 to Rs 297 crore in FY24, while net loss narrowed from Rs 290 crore to Rs 194 crore.
The IPO proceeds will fund marketing, product development, its NBFC arm, and general corporate purposes.