Bengaluru-based BlackBuck has filed for a ₹550 crore IPO.
BlackBuck, a prominent digital platform for truck operators in India, has submitted documents for an initial public offering (IPO) valued at ₹550 crore. The IPO consists of a fresh issue and an offer for sale of up to 2.16 crore equity shares by existing shareholders and promoters. The face value per share is ₹1.
Promoted by Rajesh Kumar Naidu Yabaji, Chanakya Hridaya, and Ramasubramaniam Balasubramaniam, BlackBuck saw significant growth in fiscal 2024. The platform had 963,345 truck operators, generating an operating revenue of ₹297 crore, a 69 percent increase from ₹176 crore in fiscal 2023. Losses from continuing operations decreased to ₹167 crore from ₹237 crore the previous year.
BlackBuck facilitated over 413.34 million transactions and provided vehicle financing solutions, disbursing 4,035 loans worth ₹196.79 crore by March 31, 2024. The company’s load marketplace posted 2.12 million loads, benefiting 256,685 truck operators. BlackBuck processed a gross transaction value of ₹17,396.19 crore in fiscal 2024.
Proceeds from the fresh issue will be allocated towards sales and marketing (₹200 crore), investment in Blackbuck Finserve (₹140 crore), and product development and general corporate purposes (₹75 crore).
