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Sands Capital trims BlackBuck stake worth Rs 191 Cr within a week

EntrackrEntrackr · 5m ago
Sands Capital trims BlackBuck stake worth Rs 191 Cr within a week
Medial

News All Stories Sands Capital trims BlackBuck stake worth Rs 191 Cr within a week Stock exchange data shows Sands Capital Private Growth II sold 1.46% of BlackBuck (Zinka Logistics Solutions) on August 13 across two block deals. Kunal Manchanada 14 Aug 2025 10:57 IST Follow Us US-based investment firm Sands Capital has reduced its stake in logistics unicorn BlackBuck through three open market transactions this month, pocketing around Rs 191 crore from the partial exit. Stock exchange data shows Sands Capital Private Growth II sold 1.46% of BlackBuck (Zinka Logistics Solutions) on August 13 across two block deals. The deal involved about 26.3 lakh shares on the BSE and NSE at an average price of Rs 515.66 per share, amounting to Rs 135.6 crore. This came just days after the fund sold 0.6% of the company on August 8 for Rs 55.58 crore. In that deal, it offloaded 10.68 lakh shares at Rs 520.47 per share. Together, the sales represent roughly 2.06% of the company’s equity. The buyers in these trades have not been disclosed, though market sources suggest that domestic institutional investors and high-net-worth individuals could be among them. Last week, Wellington Management’s offshore investment fund Ithan Creek Master Investors also offloaded over Rs 53 crore worth stake in B2B logistics firm. Founded in 2015 by Rajesh Yabaji, Chanakya Hridaya, and Subbu Allamaraju, BlackBuck runs a trucking marketplace that connects shippers with truck owners across India. The Bengaluru-based startup entered the unicorn club in 2021 after raising $67 million from Tribe Capital, IFC Emerging Asia Fund, and VEF, among others. Sands Capital invested in earlier rounds. BlackBuck went public earlier this year, becoming one of the rare logistics-tech players to list on Indian exchanges. The company has seen positive investor sentiment post-listing, driven by narrowing losses and a rebound in freight activity. For Sands Capital, the move is seen as a partial profit booking following the listing, rather than a complete exit. The firm continues to hold a sizeable stake in BlackBuck.

Amagi files RHP, sets Rs 343–361 price band for Rs 1,789 Cr IPO

EntrackrEntrackr · 3d ago
Amagi files RHP, sets Rs 343–361 price band for Rs 1,789 Cr IPO
Medial

Amagi files RHP, sets Rs 343–361 price band for Rs 1,789 Cr IPO Bengaluru-based SaaS firm Amagi Media Labs Ltd has filed its red herring prospectus (RHP) and announced a price band of Rs 343–Rs 361 per share for its upcoming initial public offering (IPO). The Rs 1,788.62 crore public issue will open for subscription on January 13 and close on January 16, while the anchor book will open on January 12. The company has fixed the lot size at 41 shares, translating to a minimum retail investment of around Rs 14,800 at the upper end of the price band. The IPO is a combination of a fresh issue and an offer for sale (OFS). While the company will raise about Rs 816 crore through fresh issuance, existing shareholders will offload shares worth nearly Rs 972.62 crore via the OFS route. According to the Red Herring Prospectus, the proceeds from the fresh issue will be used to strengthen technology and cloud infrastructure, pursue inorganic growth opportunities, and meet general corporate expenses. In November last year, the company received SEBI approval for its initial public offering. Several early and growth-stage investors are participating in the OFS, including Accel India VI (Mauritius), Norwest Venture Partners X – Mauritius, PI Opportunities Fund I & II, Trudy Holdings, along with individual shareholders such as Rajat Garg, Rahul Garg, Prem Gupta, Kollengode Ramanathan Lakshminarayana, and Rajesh Ramaiah. Founded in 2008, Amagi operates a cloud-native SaaS platform that enables media companies to launch, distribute, and monetize advertising across connected TV (CTV), OTT platforms, and linear television. The company counts several global broadcasters, streaming platforms, and content owners among its customers, with a large portion of its revenue coming from international markets, particularly the US. On the financial front, Amagi has continued to scale rapidly. For the fiscal year ended March 2025 (FY25), the company reported revenue of around Rs 1,162 crore, while significantly narrowing its losses during the year. At the upper end of the price band, Amagi is expected to command a post-issue valuation of over Rs 7,800 crore.

Accel-backed BlackBuck's parent reins in losses by 33% in FY24

YourStoryYourStory · 1y ago
Accel-backed BlackBuck's parent reins in losses by 33% in FY24
Medial

- Zinka Logistics, the parent company of BlackBuck, reduced its losses by 33% to Rs 193.9 crore in FY24 compared to the previous year. - Operating revenue for Zinka Logistics increased by 69% to Rs 296.9 crore in FY24 from Rs 175.6 crore in 2023. - The reduced losses were overshadowed by an 11% rise in total expenses to Rs 483.4 crore, mainly due to employee benefit expenses. - BlackBuck received final observation from SEBI for its IPO, with plans to raise Rs 550 crore through a fresh issue of shares and an offer for sale of 21.6 million shares by existing shareholders. - Accel India IV (Mauritius) fund and Accel Growth Fund V LP fund are among the existing shareholders planning to sell their shares through the IPO.

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