BlackBuck Allots 7.36 Lakh Shares Under ESOP Schemes

SUMMARY

The company has allotted 5.25 Lakh equity shares to the eligible employees under ESOP 2016 while the remaining 2.10 Lakh equity shares have been allotted under ESOP 2019

Consequent to the above allotment, the company’s paid-up capital increased to INR 17.72 Cr from INR 17.64 Cr earlier

At the stock's previous closing price, the newly allocated ESOP shares are worth nearly INR 30.5 Cr.

Zinka Logistics Solutions, the parent of logistics major BlackBuck has allotted 7.36 Lakh equity shares under its existing employee stock option plan (ESOP).

The company has allotted 5.25 Lakh equity shares to the eligible employees under ESOP 2016 while the remaining 2.10 Lakh equity shares have been allotted under ESOP 2019.

“Intimation of allotment of 7,36,097 equity shares having face value of INR 1/- each pursuant to the exercise of options granted and vested under Zinka Logistics Solutions Limited Employee Stock Option Scheme 2016 (ESOP 2016) and Zinka Logistics Solutions Limited Employee Stock Option Scheme 2019 (ESOP 2019),” BlackBuck informed in an exchange filing today (March 5).

Consequent to the above allotment, the company’s paid-up capital increased to INR 17.72 Cr from INR 17.64 Cr earlier.

Shares of the BlackBuck ended yesterday’s (March 4) trading session at INR 415.05 apiece on the BSE. At this stock price, the newly allocated ESOP shares are worth nearly INR 30.5 Cr.

Post the allotment, shares of BlackBuck were trading 0.65% lower at 412.35 on the BSE today.

The development comes a few days after the company was issued two tax notices totalling INR 14.2 Cr from tax authorities in Bengaluru.

Founded in 2015 by Rajesh Yabaji, Chanakya Hridaya and Rama Subramaniam, BlackBuck is a B2B marketplace for inter-city full truckload (FTL) transportation. It connects truck operators with businesses with shipping requirements in real time through its tech-enabled platform.

It made its public debut in November last year, listing at a premium of 2.89% at INR 280.90 on the NSE.

It saw its consolidated net loss jump 145% to INR 48.03 Cr in Q3 FY25 from INR 19.57 Cr in the year-ago quarter, led by an IPO expense of INR 8.45 Cr and a share-based payment expense of INR 69.44 Cr in Q3.

If not for these exceptions, the company would have posted a profit of INR 29.86 Cr from its continuing operations. Meanwhile, its revenue from operations surged 41% to INR 113.98 Cr in Q3 FY25 from INR 80.86 Cr in previous year.