BlackBuck, a logistics startup, sets for a public debut with plans to launch an IPO aimed at raising $300 million

A logistics firm called BlackBuck is getting ready to go public by preparing to do an IPO with the hopes of raising $300 million. The firm, Zinka Logistic Solutions Pvt Ltd, was founded in 2015 and has appointed attorneys and merchant bankers to create its red herring prospectus (DRHP). This is the first step in the process. BlackBuck plans to go into the market in the second part of FY25, incorporating the whole FY24 financial results.

The intended IPO is set up to consist of two parts: a secondary share sale by current investors and a new share issue to raise money. With this dual strategy, the company hopes to improve its service offerings and provide present stakeholders a chance to fully or partially exit the business.

The IPO's proceeds are intended for large-scale expansion. BlackBuck intends to use the money to expand its primary freight business as well as to improve its services division, which offers GPS monitoring devices, fuel cards and FASTags. It is anticipated that the calculated investment would strengthen BlackBuck's standing in the logistics industry and quicken the company's pace of expansion.