BlackBuck Co-Founder Rajesh Yabaji Receives Shares Worth ₹160 Crore as Gift Ahead of IPO

15 November 2024

In a recent development for India’s logistics technology platform, BlackBuck officially known as Zinka Logistics Solutions Ltd, co-founder Rajesh Yabaji has received 5.85 million shares as a gift from co-founders and key investors ahead of the company’s much-anticipated IPO. This transfer represents a 3.6% stake in the company, valued at approximately ₹160 crore. The shares, gifted in October, signal investor confidence and a vote of trust in Yabaji's leadership as BlackBuck prepares to enter the public market.

• BlackBuck, backed by high-profile investors like Flipkart, specializes in digital logistics solutions, including services like vehicle financing, fuel cards, FASTag services, and a marketplace that connects truck operators with businesses. As the logistics sector in India continues to grow, BlackBuck’s digital-first approach has positioned it as a leader in this industry. The platform leverages technology to streamline logistics operations and offers valuable services to both truck operators and companies seeking efficient transportation solutions.
  

• The investors transferring shares to Yabaji include Sands Capital, the International Finance Corp (IFC),and angel investor Sanjiv Rangrass, along with BlackBuck’s co-founders and promoters, Ramasubramaniam Balasubramaniam and Chanakya Hridaya. Most of the shares were transferred by the co-founders, underscoring their endorsement of Yabaji's role as BlackBuck heads toward an IPO. The IPO will be managed by top financial firms, including Axis Capital, Morgan Stanley India, JM Financial, and IIFL Securities, with Kfin Technologies acting as the registrar.