BlackBuck plans IPO; aims to raise $300 million

Logistics unicorn backed by Flipkart, BlackBuck, is planning its IPO in 2024-25, aiming to raise around $300 million. The IPO is expected to comprise a mix of fresh issue of shares and a secondary sale of shares by the company’s existing investors. The final size of the offering will depend on the quantum of the secondary share sale. The proceeds of the IPO will be used to scale up its services business, which it wants to ramp up, as well as to grow its core freight business.