Tiger Global-Backed Logistics Unicorn BlackBuck Eyes $300 Mn IPO In FY25
04 March 2024
Flipkart-backed logistics unicorn BlackBuck is reportedly planning to go public in the next fiscal year (FY25) and is looking to raise as much as $300 Mn.
The startup has appointed merchant bankers and lawyers for the proposed initial public offering (IPO) and has initiated the preparations of its draft red herring prospectus, Moneycontrol reported.
The unicorn is looking to file the DRHP with the full FY24 financial numbers and intends to launch its IPO in the second half of FY25, a source was cited as saying.
BlackBuck plans to use the IPO proceeds to scale up its services business, which it has been focusing on ramping up in recent years, as well as to grow its core freight business.
As per the report, the IPO would comprise a fresh issue of shares as well as an offer for sale component. The final offering size will depend on the yet-to-be-finalised quantum of the secondary share sale.
“These are early days and the company and its investors are still in discussions over the secondary share sale component of the deal,” one of the sources was quoted as saying.
Flipkart-backed logistics unicorn BlackBuck is reportedly planning to go public in the next fiscal year (FY25) and is looking to raise as much as $300 Mn.
The startup has appointed merchant bankers and lawyers for the proposed initial public offering (IPO) and has initiated the preparations of its draft red herring prospectus, Moneycontrol reported.
The unicorn is looking to file the DRHP with the full FY24 financial numbers and intends to launch its IPO in the second half of FY25, a source was cited as saying.
BlackBuck plans to use the IPO proceeds to scale up its services business, which it has been focusing on ramping up in recent years, as well as to grow its core freight business.
As per the report, the IPO would comprise a fresh issue of shares as well as an offer for sale component. The final offering size will depend on the yet-to-be-finalised quantum of the secondary share sale.
“These are early days and the company and its investors are still in discussions over the secondary share sale component of the deal,” one of the sources was quoted as saying.
Stay Connected, Stay Informed –
Don’t miss out on exclusive updates, market trends, and real-time investment opportunities. Be the first to know about the latest unlisted stocks, IPO announcements, and curated Fact Sheets, delivered straight to your WhatsApp.
Pre Ipo
Upcoming IPO
Unicorn
Planify Enterprises Private Limited
Planify Capital Limited
Licensed By
Mutual Fund License No.:
ARN-164419
IRDA Code (1):
ABLIC1003123454
IRDA Code (2):
ABLIC1003131639
Startup India Certificate No.:
DIPP93786
Other Websites
ⓒ 2016-2026 Planify. All rights reserved, Built with
in India
