amina.finowings
Blackbuck IPO Overview
Zinka Logistics Solution Limited, the operator of Blackbuck, India’s largest digital trucking platform, is set to launch its IPO on November 13, 2024, closing on November 18. The IPO seeks to raise Rs. 1,114.72 crore through a mix of fresh shares (worth Rs. 550 crore) and an offer for sale (worth Rs. 564.72 crore). Shares will be offered within a price range of Rs. 259 to Rs. 273, with a lot size of 54 shares. The listing is scheduled for November 21, 2024, on BSE and NSE.
Business Highlights
Founded in 2015, Blackbuck offers truck operators a platform to manage telematics, payments, and financing. As of FY2024, 27.5% of India’s truck operators utilized Blackbuck’s services. With a Gross Transaction Value (GTV) of Rs. 1,73,961.93 million, Blackbuck has also extended over 4,000 loans, amassing Rs. 1,967.88 million.
Financials and Strengths
Revenue grew 62.2% and profit after tax (PAT) rose 33.2% in FY2024. Blackbuck’s strengths include its extensive trucking network, a scalable asset-light model, and innovative logistics solutions.
Risks and Considerations
The company has faced operational losses, particularly within its NBFC subsidiary, Blackbuck Finserve. Reliance on key suppliers and exposure to high-risk borrowers are additional challenges.
IPO Reservation and Allotment
The IPO allocation is structured with 75% for institutional investors, 15% for non-institutional, and 10% for retail investors.
Conclusion
The Blackbuck IPO presents a promising investment in India’s logistics tech space, but investors should assess risks in operational stability and industry challenges before investing.
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