Flipkart-backed truck aggregator platform BlackBuck has set its IPO price range between Rs 259 and Rs 273 per share.
At the upper end of this range, BlackBuck’s parent, Zinka Logistics, expects to raise around Rs 1,114.7 crore through this book-building issue.
The IPO will include a fresh issue valued at Rs 550 crore, along with an offer for sale (OFS) of up to 20.6 million equity shares. Investors must bid on at least 54 shares, with bids increasing in multiples of 54.
Last month, BlackBuck received IPO approval from the Securities and Exchange Board of India (Sebi).
Founders Rajesh Yabaji, Chanakya Hridaya, and Ramasubramanian Balasubramaniam plan to sell roughly 4.4 million shares. Investors Accel and Peak XV Partners, along with Flipkart, will also participate in the OFS. Flipkart, through Quickroutes International Private Limited in Singapore, will sell 5.5 million shares, while the World Bank-backed International Finance Corporation (IFC) will sell 2.3 million shares.
For FY24, BlackBuck’s revenue from operations increased by 68% year-on-year, reaching Rs 297 crore. Its net loss was reduced to Rs 167 crore, down from Rs 237 crore in the previous fiscal year.
