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Peak XV, VEF taking haircut as BlackBuck eyes less than $600 mn valuation in IPO

VCCircle

VCCircle · 8m ago

Peak XV, VEF taking haircut as BlackBuck eyes less than $600 mn valuation in IPO

Peak XV Partners and VEF are expected to face losses as BlackBuck, an online trucking platform, plans an IPO at a valuation that falls short of the unicorn status. The venture capital firm and fintech investor had previously invested in the Bengaluru-based startup. BlackBuck, operated by Zinka Logistics Solutions, provides services for the transportation industry.

Related News

BlackBuck IPO: Accel, Flipkart To Rake In 5X Returns

Inc42 · 8m ago

BlackBuck IPO: Accel, Flipkart To Rake In 5X Returns

Flipkart, the Indian e-commerce company, is selling a portion of its stake in BlackBuck, a logistics startup. Flipkart held a 13.2% stake in BlackBuck before its IPO and is now offloading 55.3 lakh shares for approximately INR 151.1 crore. Venture capital firm Accel is also selling 43.1 lakh shares for around INR 117.6 crore, resulting in a 4.3 times return on their investment. However, Peak XV Partners and VEF AB are selling their shares in BlackBuck at a loss.

Blackbuck IPO: Peak XV & Tribe in red as Accel, Flipkart gain post listing

The Arc Web

The Arc Web · 8m ago

Blackbuck IPO: Peak XV & Tribe in red as Accel, Flipkart gain post listing

The truck-aggregation platform BlackBuck, operated by Zinka Logistics, saw a slight premium before slipping in its stock market debut. The company's market capitalization stood at INR 4,588 crore ($543 million), reflecting a 36% discount from its last valuation when it raised funding in 2021. BlackBuck's IPO raised INR 1,115 crore ($132 million), with primary capital accounting for INR 550 crore ($65 million) and an offer for sale (OFS) by existing investors amounting to INR 565 crore ($67 million). Flipkart and Accel were among the investors selling their stakes. Other investors, such as Peak XV Partners and VEF, incurred losses.

CarDekho Eyes $500 Mn IPO Next Year

Inc42 · 9m ago

CarDekho Eyes $500 Mn IPO Next Year

CarDekho is in discussions to hire merchant bankers for its upcoming IPO. The startup is aiming to submit its Draft Red Herring Prospectus (DRHP) in March 2025. Peak XV, Google Capital, and Hillhouse Capital will sell a portion of their stakes as part of the Offer for Sale (OFS). The funds raised from the IPO will be used for CarDekho's expansion into new geographical regions and categories, as well as for potential acquisitions.

ChrysCapital, Peak XV score multibagger returns from common portfolio firm

VCCircle

VCCircle · 7m ago

ChrysCapital, Peak XV score multibagger returns from common portfolio firm

ChrysCapital and Peak XV Partners have successfully sold a common portfolio company, generating substantial returns from partial exits. Peak XV has recently achieved significant returns from another portfolio company, while also experiencing losses from BlackBuck, a logistics company.

Trucking unicorn BlackBuck to raise Rs 550 cr from IPO

The Arc Web

The Arc Web · 1y ago

Trucking unicorn BlackBuck to raise Rs 550 cr from IPO

BlackBuck, a digital trucking platform, is filing for an IPO to raise ₹550 crore, adding to an existing investor sale. Valued at $1 billion in 2021, investors like Flipkart, Accel, Tiger Global, and Sands Capital are partially exiting. Founders Rajesh Yabaji, Chanakya Hridaya, and Ramasubramaniam B are selling a 2.3% stake. BlackBuck, backed by IFC, Tribe Capital, and Peak XV Partners, has raised $359 million to date.

Tiger Global-Backed Logistics Unicorn BlackBuck Eyes $300 Mn IPO In FY25

Inc42 · 1y ago

Tiger Global-Backed Logistics Unicorn BlackBuck Eyes $300 Mn IPO In FY25

Indian logistics startup BlackBuck, backed by Flipkart, is reportedly preparing for an initial public offering (IPO) in the next fiscal year, with plans to raise up to $300 million. The company has already appointed merchant bankers and lawyers for the IPO and is currently working on its draft red herring prospectus. BlackBuck aims to file the DRHP with its full FY24 financial numbers and launch the IPO in the second half of FY25. The proceeds from the IPO will be used to expand its services business and grow its core freight business.

Visa processing firm Atlys eyes $15-18M raise from Peak XV, others

Inshorts · 1y ago

Visa processing firm Atlys eyes $15-18M raise from Peak XV, others

Travel tech startup Atlys, which counts Andreessen Horowitz, Elevation Capital, and South Park Commons among its investors, is reportedly in talks with existing investor Peak XV Partners and others to raise $15-18 Mn in its Series B round. The startup is eyeing a valuation of nearly $70 Mn, Entrackr reported. The funding round will be led by Peak XV.

Meesho Eyes Larger $500 Mn-$650 Mn Round At Lower Valuation: Report

Inc42 · 1y ago

Meesho Eyes Larger $500 Mn-$650 Mn Round At Lower Valuation: Report

Indian e-commerce platform, Meesho, is reportedly increasing the size of its upcoming funding round to $500-650 million, from the initial target of $300 million, due to strong investor interest. The funding round is expected to be led by Tiger Global and Peak XV Partners, with participation from SoftBank, WestBridge Capital and Mars Growth Capital. It is reported that $300 million of the funding will be designated for settling taxes incurred during the transfer of the company's domicile from Delaware to India. The round is expected to value Meesho at $3.9 billion, a 20% decrease from its previous valuation of $4.9 billion.

Yatra eyes over $400 mn market cap in India IPO; Chiratae to exit

VCCircle

VCCircle · 1y ago

Yatra eyes over $400 mn market cap in India IPO; Chiratae to exit

Indian online travel agency Yatra is set to go public in India after a reverse merger with a US-based special purpose acquisition company (SPAC) seven years ago. Chiratae Ventures, an early investor in Yatra, is expected to take a haircut on its investment as the IPO price range is set. Yatra aims to tap into the Indian market's growth potential through its IPO.

OYO's Early Investors Exit With Massive Returns Ahead of IPO

OutlookIndia

OutlookIndia · 6m ago

OYO's Early Investors Exit With Massive Returns Ahead of IPO

Early investors in OYO, including Peak XV Partners and Lightspeed Venture Partners, have been selling their stakes in the company, earning substantial returns as OYO prepares for its IPO. Peak XV Partners recently gained $80-90 million from selling part of its remaining stake, having previously made $500 million in exits. The current stake sales come at a valuation of $3.9 billion, with the IPO expected in March 2025 after concluding significant funding rounds following recent fundraising efforts.

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