BlackBuck Bulk Deal: Goldman Sachs Sees INR 295 Cr Windfall

SUMMARY

BlackBuck's investor Goldman Sachs has sold 49.1 Lakh shares in the company at INR 600.32 apiece, raking in a total of INR 294.7 Cr from the bulk deal

Goldman Sachs invested in the logistics major back in 2019, participating in its $150 Mn Series D round

The logistics major's shares have zoomed 132% from its listing price to INR 635.05

Logistics major BlackBuck’s investor Goldman Sachs has sold 49.1 Lakh shares in the company at INR 600.32 apiece, raking in a total of INR 294.7 Cr from the bulk deal. A large chunk of the shares were lapped up by the company’s existing investor Nomura, who bought 41.2 Lakh shares at INR 599.77 apiece for a total of INR 246.9 Cr.

Goldman Sachs invested in the logistics major back in 2019, participating in its $150 Mn Series D round. The investor held 49.97 Lakh shares or 3.07% stake in BlackBuck at the time of its IPO.

It is unclear whether Goldman Sachs has completely exited the logistics major at this point, given that its shares in the company were held in physical form as the investor’s demat accounts are not opened and operational.

On the other hand, Nomura first invested in BlackBuck during its anchor round, bagging 24.86 Lakh equity shares in the company. At the end of the June quarter, it held 29.43 Lakh shares or 1.64% stake in the company.

Meanwhile, Goldman Sachs joins the list of investors laying off their stake in the logistics company amid its bull run over the past few months.

The company’s shares have largely maintained a bullish momentum since listing on the bourses. Since listing on the BSE at INR 279.05 on November 22, its shares have grown over 132% to end today’s trading session at INR 635.05. The shares also hit a fresh all-time high of INR 670.05 last week.

BlackBuck shares have been on a bull run mainly due to its strong financial performance. In Q1 FY26 report, the company’s profit rose 17% YoY to INR 33.7 Cr and an over 56% YoY jump in its operating revenue, which stood at INR 143.6 Cr

Earlier last month, Sands Capital and Wellington Management offloaded shares worth INR 135.6 Cr and INR 53.7 Cr respectively. Besides, Accel and Flipkart hived off their stakes in the company in June.

The robust jump in the company’s financial performance came at the behest of it seeing a 14% YoY jump in the truck operators it served in the quarter on average per month, which grew to 7.8 Lakh. Of this, nearly 3.9 Lakh truck operators subscribed to at least two of the company’s services.