Stake sale · Mobility & Logistics

Sands Capital and Wellington Management sell BlackBuck stake

By Startup Enthusiast · 8 August 2025

What they do

BlackBuck runs a digital trucking marketplace connecting shippers with truck owners across India

Sands Capital sold 2.06% stake for Rs 191 crore and Wellington Management sold Rs 53.7 crore worth shares in August 2025

The sales are partial profit booking after BlackBuck listed on Indian exchanges earlier in 2025

Sands Capital reduced its stake in BlackBuck via three open market transactions in August 2025.
Sands Capital pocketed approximately Rs 191 crore from the partial exit.
On August 13, Sands Capital Private Growth II sold 1.46% of BlackBuck in two block deals: ~26.3 lakh shares at an average of Rs 515.66 per share, totalling Rs 135.6 crore.
On August 8, Sands Capital sold 0.6% of BlackBuck: 10.68 lakh shares at Rs 520.47 per share, totalling Rs 55.58 crore.
Sands Capital's total sales represent roughly 2.06% of BlackBuck's equity.
Wellington Management's offshore fund Ithan Creek Master Investors offloaded approximately Rs 53.7 crore worth stake in BlackBuck on August 7/8.
Wellington Management divested 9.9 lakh shares at Rs 540.54 per share, totalling Rs 53.7 crore.
Buyers in Sands Capital trades were not disclosed; market sources suggest domestic institutional investors and high-net-worth individuals (HNIs).

BlackBuck entered the unicorn club in 2021 after raising $67 million from Tribe Capital, IFC Emerging Asia Fund, and VEF.
BlackBuck went public earlier in 2025, listing on Indian exchanges.
Sands Capital's stake sale is a partial profit booking post-listing, not a complete exit; it continues to hold a sizeable stake.

BlackBuck runs a trucking marketplace connecting shippers with truck owners across India.
The company is based in Bengaluru.
Truck operator services accounted for approximately 98% of BlackBuck's Q1 FY26 revenue.
Q1 FY26 revenue was approximately Rs 144 crore (56-57% year-on-year increase).
Q1 FY26 profit was approximately Rs 34 crore (17% year-on-year increase).
BlackBuck stock price at the end of August 7 was Rs 517.4, with a market capitalisation of Rs 9,278 crore.

Sands Capital (seller) — Investor that participated in earlier rounds of BlackBuck.
Wellington Management (seller) — Manages Ithan Creek Master Investors (Cayman) L.P.F., a Cayman Islands-based offshore fund with assets under management (AUM) over $1.3 billion.