IPO · Mobility & Logistics

Blackbuck converts to public company for IPO

By Startup Enthusiast · 16 June 2024

What they do

Blackbuck is a B2B logistics platform for long-haul trucking in India

It converted to a public company and plans an IPO in the second half of FY25 to raise up to $300 million

The company has raised over $350 million and became a unicorn after its Series E round

Blackbuck (now Zinka Logistics Solutions) has converted from a private to a public company.
The board approved the resolution and the name change to Zinka Logistics Solutions Limited.
This conversion is a step towards a planned initial public offering (IPO) (first sale of shares to the public).
The company aims to raise up to $300 million in the IPO.
The IPO is planned for the second half of FY25 (October 2024 to March 2025).
Blackbuck has raised over $350 million in total funding so far.
It became a unicorn (startup valued over $1 billion) after its Series E round of $67 million.

The company's revenue from operations fell for three consecutive years, from Rs 833 crore in FY22 to Rs 704 crore in FY23.
Losses remained high at Rs 290 crore in FY23, similar to Rs 285 crore in FY22.
Several other new-age internet companies are also listing in 2024, including Ixigo, Ola Electric, and FirstCry.

Blackbuck is a B2B logistics platform for long-haul trucking.
It provides intercity logistics services to large companies and MSMEs (micro, small and medium enterprises).
Its website tagline is 'INDIA’s LARGEST DIGITAL trucking platform'.