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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.

Related News

Orbimed, Accel-backed companies get IPO nod; GEF-backed Hero Motors opts out

VCCircle

VCCircle · 10m ago

Orbimed, Accel-backed companies get IPO nod; GEF-backed Hero Motors opts out

- Two PE-backed firms, Suraksha Diagnostics and Zinka Logistics-operated Blackbuck, receive IPO approval from SEBI. - OrbiMed and Tiger Global are among the investors backing Suraksha Diagnostics, while Accel and Tiger Global back Blackbuck. - Hero Motors, backed by GEF Capital, opts out of its planned IPO. - Suraksha Diagnostics is expected to have more than 50% of OrbiMed's stake in the company sold during the IPO. - Blackbuck, a trucking firm, plans to file a Rs 550 crore IPO and existing investors like Tiger Global and Accel will also sell their stake.

Flipkart-backed logistics startup BlackBuck eyes $300 million IPO

IndianStartupNews

IndianStartupNews · 1y ago

Flipkart-backed logistics startup BlackBuck eyes $300 million IPO

Logistics startup BlackBuck is preparing for an Initial Public Offering (IPO) to raise $300 million. The company, which plans to include a fresh issue of shares and a secondary sale by existing investors, aims to use the funds to expand its services and core freight business. Despite being valued at over $1 billion in 2021, BlackBuck's consolidated revenue declined by 15% and losses increased in FY23. The IPO is expected to solidify BlackBuck's position in the logistics sector and accelerate its growth, with backing from investors including Flipkart, Tiger Global, and Sequoia.

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

VCCircle

VCCircle · 9m 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.

Flipkart-backed logistics startup BlackBuck plans IPO; to raise up to $300 million

Money Control

Money Control · 1y ago

Flipkart-backed logistics startup BlackBuck plans IPO; to raise up to $300 million

Logistics startup BlackBuck, backed by Flipkart, is planning to launch an initial public offering (IPO) in the next fiscal year, aiming to raise up to $300 million. The IPO will consist of a mix of fresh issue and secondary share sales by existing investors. BlackBuck will use the proceeds to expand its services business and grow its core freight business. The company became a unicorn in 2021 after raising $67 million in a Series E funding round. Tech IPO activity in India is expected to rebound this year after a two-year slowdown.

Flipkart-Backed BlackBuck Files DRHP For INR 550 Cr IPO

Inc42 · 1y ago

Flipkart-Backed BlackBuck Files DRHP For INR 550 Cr IPO

BlackBuck, a technology platform for logistics in India, plans to raise $75 million in a new funding round. The round could value the startup, backed by Tiger Global and Goldman Sachs, at $1 billion. The new round follows a $27 million funding round in May, which was also led by Tiger Global. BlackBuck aims to use the funding to expand its services and strengthen its technology capabilities. The company currently serves over 10,000 clients and has a network of over 700,000 trucks.

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.

BlackBuck gets a valuation markdown ahead of IPO as it divests key revenue generator

VCCircle

VCCircle · 1y ago

BlackBuck gets a valuation markdown ahead of IPO as it divests key revenue generator

Indian logistics startup BlackBuck has received a valuation markdown ahead of its upcoming IPO. The company, which reached unicorn status in 2021, has divested a key revenue generating division. BlackBuck is set to go public amidst intense competition in the rapidly growing Indian market.

Porter quietly turns unicorn, closes internal round at $1 billion valuation

Money Control

Money Control · 1y ago

Porter quietly turns unicorn, closes internal round at $1 billion valuation

Porter, a Tiger Global-backed logistics services provider, has become a unicorn after a fresh friends and family round, raising its valuation to $1 billion. This is the second such round in a year, following a January-March 2023 valuation of $700 million. Porter has raised $150 million since 2014 from investors including Tiger Global and Mahindra Group.

Grapevine: Flipkart-backed BlackBuck mulls IPO; Godrej Tyson promoters plan stake sale

VCCircle

VCCircle · 1y ago

Grapevine: Flipkart-backed BlackBuck mulls IPO; Godrej Tyson promoters plan stake sale

Flipkart-backed logistics startup BlackBuck is considering going public with an IPO in the next fiscal year. The company aims to raise around $300 million and plans to file the Draft Red Herring Prospectus (DRHP) with full financial numbers for FY24. The IPO is expected to be launched in the second half of the fiscal year. Additionally, the promoters of Godrej Tyson Foods are also planning to sell their stake in the company.

BlackBuck DRHP: A Deeper Look Into The Logistics Unicorn’s Cap Table And C-Suite

Inc42 · 1y ago

BlackBuck DRHP: A Deeper Look Into The Logistics Unicorn’s Cap Table And C-Suite

BlackBuck, a logistics unicorn, has filed for its initial public offering (IPO) with a fresh issue of shares worth INR 550 Cr and an offer for sale component of up to 2.16 Cr shares, according to its draft red herring prospectus. This comes as part of the ongoing IPO frenzy in the tech startup space.

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