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.
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