BlackBuck Raises INR 501 Cr From Anchor Investors

BlackBuck Raises INR 501 Cr From Anchor Investors

SUMMARY

Logistics unicorn BlackBuck raised INR 501.33 Cr from anchor investors, who subscribed to 1.83 Cr equity shares at INR 273 apiece

Nomura poured in the highest amount of INR 67.87 Cr in the anchor round, bagging 24.86 Lakh equity shares of the logistics major

Overall, three domestic mutual funds were allocated 61.39 Lakh shares for INR 167.60 Cr

A day before its initial public offering (IPO) opens for subscription, logistics unicorn BlackBuck raised INR 501.33 Cr from anchor investors, who subscribed to 1.83 Cr equity shares at INR 273 apiece.

Global financial services group Nomura poured in the highest amount of INR 67.87 Cr in the anchor round, bagging 24.86 Lakh equity shares of the logistics major. Invesco secured the second largest 18.26 Lakh equity shares for INR 49.86 Cr. 

SBI invested INR 67.88 Cr in the round through its two funds, SBI Innovative Opportunities and SBI Technology Opportunities Fund, securing 24.91 Lakh equity shares.

Other anchor investors included Ashoka, Steadview, Hornbill Orchid and Bandhan Bank. 

Overall, three domestic mutual funds were allocated 61.39 Lakh shares for INR 167.60 Cr.

BlackBuck is looking to raise INR 1,114.72 Cr from its IPO, which will close on November 18.

The public issue comprises a fresh issue of equity shares worth INR 550 Cr and an offer for sale of up to 2.06 Cr shares. The company has set a price band of INR 259 to INR 273 per equity share for the IPO.

It is pertinent to mention that the company trimmed its valuation ahead of the IPO. At the upper end of the price band, BlackBuck will be valued at about INR 4,817 Cr. This is a cut of about 35% from its last private valuation when it entered the coveted unicorn club.

Founded in 2015 by Rajesh Kumar Naidu Yabaji, Chanakya Hridaya and Ramasubramanian Balasubramaniam, BlackBuck operates an online B2B marketplace for inter-city full truck load (FTL) transportation.

Its platform provides payment options, load marketplace, and vehicle financing services to truck operators in the country. The company claims to be the online trucking platform in India, accounting for 27% market share of all truck operators.

It posted a net profit of INR 28.67 Cr in the first quarter of the financial year 2024-25 (FY25) on an operating revenue of INR 92.16 Cr.

You have reached your limit of free stories
Become An Inc42 Plus Member

Become a Startup Insider in 2024 with Inc42 Plus. Join our exclusive community of 10,000+ founders, investors & operators and stay ahead in India’s startup & business economy.

2 YEAR PLAN
₹19999
₹7999
₹333/Month
UNLOCK 60% OFF
Cancel Anytime
1 YEAR PLAN
₹9999
₹4999
₹416/Month
UNLOCK 50% OFF
Cancel Anytime
Already A Member?
Discover Startups & Business Models

Unleash your potential by exploring unlimited articles, trackers, and playbooks. Identify the hottest startup deals, supercharge your innovation projects, and stay updated with expert curation.

BlackBuck Raises INR 501 Cr From Anchor Investors-Inc42 Media
How-To’s on Starting & Scaling Up

Empower yourself with comprehensive playbooks, expert analysis, and invaluable insights. Learn to validate ideas, acquire customers, secure funding, and navigate the journey to startup success.

BlackBuck Raises INR 501 Cr From Anchor Investors-Inc42 Media
Identify Trends & New Markets

Access 75+ in-depth reports on frontier industries. Gain exclusive market intelligence, understand market landscapes, and decode emerging trends to make informed decisions.

BlackBuck Raises INR 501 Cr From Anchor Investors-Inc42 Media
Track & Decode the Investment Landscape

Stay ahead with startup and funding trackers. Analyse investment strategies, profile successful investors, and keep track of upcoming funds, accelerators, and more.

BlackBuck Raises INR 501 Cr From Anchor Investors-Inc42 Media
BlackBuck Raises INR 501 Cr From Anchor Investors-Inc42 Media
You’re in Good company