BlackBuck IPO
BlackBuck IPO — date, price band, lot size & details 2024
BlackBuck listed on 22 Nov 2024 at ₹280.9, 2.9% above the ₹273 issue price.
Zinka Logistics Solutions runs BlackBuck, India's largest digital platform for truck operators, for tolling and fuel payments, telematics, loads and vehicle finance. It had 963,345 truck operators transacting in Fiscal 2024.
Stock price
BlackBuck is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 11 November.
- Open 13 Nov 2024
- Close 18 Nov 2024
- Allotment 19 Nov 2024
- Refund/credit 20 Nov 2024
- Listing 22 Nov 2024
Issue summary
The terms of the offer, as filed.
| IPO Dates | 13 to 18 Nov, 2024 |
|---|---|
| Price Band | ₹259 – ₹273 |
| Face Value | ₹1 |
| Lot Size | 54 Shares |
| Issue Size | ₹1114.72 Cr |
| Sale Type | Fresh capital cum OFS |
| Listing On | BSE, NSE |
| Employee Discount | Rs 25.00 per share |
| Registrar | KFin Technologies Limited |
| Min Investment | ₹ 14,742 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 54 shares at the ₹273 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 54 | ₹14,742 |
| Retail (max) | 13 | 702 | ₹1,91,646 |
| S-HNI (min) | 14 | 756 | ₹2,06,388 |
| S-HNI (max) | 67 | 3,618 | ₹9,87,714 |
| B-HNI (min) | 68 | 3,672 | ₹10,02,456 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 5
- 01Total income rose from Rs 156.13 crore in FY2022 to Rs 316.51 crore in FY2024.
- 02It turned a profit of Rs 32.38 crore in the three months to 30 June 2024.
- 03It reached 963,345 truck operators, or 27.52% of India's truck operators, in Fiscal 2024.
- 04Rs 550.03 crore of the issue was fresh capital for growth.
- 05Net worth was Rs 344.98 crore on 30 June 2024.
Risks · 5
- 01The company made losses of Rs 284.56 crore in FY2022, Rs 290.50 crore in FY2023 and Rs 193.95 crore in FY2024.
- 02With a loss in FY2024, the pre-issue P/E was negative, and the market value at Rs 273 was Rs 4,817.81 crore.
- 03Rs 564.69 crore of the issue was offer for sale.
- 04Truck operators are small businesses that are sensitive to freight cycles and fuel prices. Borrowing was Rs 161.01 crore.
- 05Promoters held only 32.91% before the issue and 26.83% after it, on a fully diluted basis.
Three years of numbers
All figures in ₹ crore, as reported in the BlackBuck offer document.
| Metric | 30 Jun 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|---|
| Assets | 629.41 | 654.32 | 654.25 | 899.68 |
| Total Income | 98.33 | 316.51 | 195.09 | 156.13 |
| Profit After Tax | 32.38 | -193.95 | -290.50 | -284.56 |
| NET Worth | 344.98 | 311.29 | 352.66 | 585.08 |
| Total Borrowing | 161.01 | 173.74 | 165.84 | 199.00 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the BlackBuck RHP. EPS and P/E are post-issue — the table below carries the pre-issue comparison.
BlackBuck IPO Valuation
How the issue prices the company before and after the fresh shares are created.
| Valuation Metric | Pre-Issue | Post-Issue |
|---|---|---|
| EPS (₹) | ₹-12.41 | ₹7.34 |
| P/E Ratio (x) | -22.00 | 37.20 |
| Market Cap at Offer Price (₹ Cr) | ₹-712.31 | ₹1,204.32 |
Pre-issue figures use the shareholding reported in the RHP; post-issue figures use the shareholding once the fresh issue has created new shares. The two differ because of that dilution and because post-issue earnings per share are often annualised, so the change can run in either direction. Market capitalisation is calculated at the ₹273 offer price. Compare the post-issue P/E against listed peers before deciding — a premium there is growth you are paying for in advance.
Where the money goes
₹550.00 Cr of the issue is earmarked to named objects.
About the company
In Fiscal 2024, 963,345 truck operators transacted on its BlackBuck platform, or 27.52% of India's truck operators. They use it to manage tolling and fuel payments, track drivers and fleets through telematics, find loads and get vehicle financing.
Its promoters are Rajesh Kumar Naidu Yabaji, Chanakya Hridaya and Ramasubramanian Balasubramaniam.
The IPO was Rs 1,114.72 crore, with Rs 550.03 crore of fresh issue and Rs 564.69 crore of offer for sale by investors and the three promoters. Fresh money was planned for marketing, its financing subsidiary and product development.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
BlackBuck IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
JM Financial Ltd.
125 issues handledBest listing: Tata Technologies (+140.0%). Weakest: ACME Solar Holdings (-13.1%).
Axis Capital
126 issues handledBest listing: Latent View Analytics (+160.0%). Weakest: Shriram Properties (-23.7%).
IIFL Capital Services Limited
116 issues handledBest listing: Unicommerce eSolutions (+117.6%). Weakest: Rategain Travel Technologies (-15.3%).
Morgan Stanley India Co. Pvt. Ltd
16 issues handledListing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of BlackBuck?
The current Grey Market Premium is ₹0.
What is the BlackBuck IPO price band?
₹259 to ₹273, on a face value of ₹1.
When is the allotment?
The basis of allotment is 19 November 2024, with listing on 22 November 2024.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — KFin Technologies Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
