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Blackbuck Ltd IPO

We are India's largest digital platform for truck operators (in terms of number of users), with 963,345 truck operators in the country transacting on our platform in Fiscal 2024, which comprises 27.52% of India's truck operators (Source: RedSeer Report). Using our platform, our customers (primarily comprising truck operators) digitally manage payments for tolling and fueling, monitor drivers and fleets using telematics (i.e., vehicle tracking and fuel monitoring solutions), find loads on our marketplace and get access to financing for the purchase of used vehicles.

Blackbuck Ltd IPO Details

Total Shares Offered

₹ 4,08,34,701

Offer to Public

2,06,85,800

Retail Max (Shares)

₹ 40,80,870

Pre Issue Promoters Holding

₹ 5,36,58,544

Exchange

BSE

Issue size

₹ 1114.72 Cr

IPO Open Date

Nov 13, 2024

Close Date

Nov 18, 2024

Lot Size

Min Investment

₹ 13,986

Issue Type

Book Building

Listing Date

Nov 22, 2024

Blackbuck Ltd IPO Dates

Nov 13, 2024

Opening date

Nov 18, 2024

Closing date

Nov 19, 2024

Basis of Allotment

Nov 21, 2024

Initiation of Refunds

Nov 21, 2024

Credit of Shares

Nov 22, 2024

Listing date

Details

Sector	Type
Sector	Miscellaneous
Sub Sector	NA
Issue Type	Book Building

Subscription Status

*Values are in Lakhs

Investor Type	Subscription Times	Shares Offered*	Shares Bid*
QIB	1.09x	30606526	33268698
NII	0.24x	6121305	1490292
Retail	1.7x	4080870	6941808
Employee	9.88x	26000	256878
Total	1.03x	40834701	41957676

Investor Type

QIB

NII

Retail

Employee

Total

Subscription Times

1.09x

0.24x

1.7x

9.88x

1.03x

30606526

6121305

4080870

26000

40834701

33268698

1490292

6941808

256878

41957676

Blackbuck Ltd Financial Status

Income Statement

Particulars (In Rs. Crores)

Balance Sheet

Particulars (In Rs. Crores)

Particulars (in Rs. Crores)	FY23	FY22	FY21
Revenue from operations	426.73	296.92	175.68
EBITDA	-186.07	-143.82	-256.23
PAT	-9.03	-194.50	-297.15
Total Assets	1,076.91	484.58	363.82
Share Capital	17.74	0.01	0.01
Total Borrowings	386.80	304.55	243.38
Operating Activities (Net Cash)	24.82	-169.16	-276.69
Investing Activities (Net Cash)	108.80	74.80	221.78
Financing Activities (Net Cash)	386.80	304.55	243.38
Net Cashflow	662.12	327.95	159.72

About Blackbuck Ltd

Our Company was incorporated as `Zinka Logistics Solutions Private Limited' at Bengaluru, Karnataka as a private limited company under the Companies Act, 2013, pursuant to a certificate of incorporation dated April 20, 2015, issued by the Registrar of Companies, Karnataka at Bengaluru (RoC). Subsequently, our Company was converted to a public limited company and the name of our Company changed from `Zinka Logistics Solutions Private Limited' to `Zinka Logistics Solutions Limited' pursuant to a Shareholders' resolution dated June 11, 2024 and a fresh certificate of incorporation dated June 19, 2024 was issued by the RoC.

India's rapid economic growth sets the stage for an expanding trucking sector. The Indian trucking sector is a US$ 18-25 billion revenue pool as of Fiscal 2024 and is expected to grow to US$ 35billion by Fiscal 2028. Trucking is one of the fastestgrowing sectors in logistics in India. High fragmentation in this industry is a result of multiple operationally complex processes required to run the business efficiently. Given the complexity of trucking operations, an operator's oversight can significantly impact profitability. Consequently, managing ownership beyond a few trucks becomes increasingly cumbersome. The trucking industry offers vast revenue potential for companies that solve challenges and inefficiencies and enhance value for truck operators.

Peer Comparison:

Zinka Logistics Solutions Ltd

Blackbuck Ltd Key Points

Strengths

We are India's largest digital platform for truck operators.

We have strong network effects of platform resulting in robust customer retention rates and higher monetization.

We have a repeatable playbook of creating and launching new offerings.

We have an omnichannel distribution network with robust sales and service strategy driving customer adoption.

We have a scalable and reliable in-house technology integrating with multiple stakeholders.

Risk

Some of its Investors have transferred 266,644 Equity Shares to Rajesh Kumar Naidu Yabaji, one of the company Promoters in the month of October 2024 as a gift/Rs.1 per Equity Share. These transfers did not involve any quid pro quo arrangements and were not contingent on the Company achieving certain business / financial milestone or listing of Equity Shares on the Stock Exchanges. There was no agreement subsisting prior to the DRHP to effect these transfers and accordingly were not disclosed in the DRHP. The said transfers will result in a gain of Rs.[*] million at the upper end of the price band to Rajesh Kumar Naidu Yabaji.

The Company and its Subsidiary, TZF Logistics Solutions Private Limited have incurred losses and witnessed negative operating cash flows in the past. Further, its Subsidiary, BlackBuck Finserve Private Limited, has witnessed negative operating cash flows in the past three financial years.

The company depends on its business partners in its payments and vehicle financing offerings. The company partners in its payments offering contribute to a significant portion of its revenues (41.04% and 42.50% of total revenue from continuing operations in the three months ended June 30, 2024 and Fiscal 2024, respectively) and one of its FASTag Partner Banks contributed to 29.62% and 33.51% of total revenue from continuing operations in the three months ended June 30, 2024 and Fiscal 2024, respectively. The loss of any such partners may adversely affect its business, results of operations and financial condition.

Strategy

Deepen distribution and continue strengthening the truck operator base.

Continue investing in our core verticals of payments and telematics.

Focus on growing our loads marketplace and vehicle finance verticals.

Continue to innovate, launch new offerings and solve problems for truck operators.

Continue to scale and invest in technology infrastructure and data science capabilities.

How To Apply for Blackbuck Ltd IPO Online?

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From the list of open IPOs, select the IPO you want to invest.

Step 3:

Go through the IPO details like lot size, price band, about the company, etc.

Step 4:

Click ‘Apply IPO’ to apply and enter the number of lots and bidding price along with your UPI ID.

Step 5:

Confirm your bid and accept the payment mandate sent to your UPI App for completing the IPO application.

FAQs on IPO (Initial Public Offering)

What is the issue size of the Blackbuck Ltd IPO?

Blackbuck Ltd's IPO offers shares for up to 550 It begins on Nov 13, 2024 and ends on Nov 18, 2024.

What is the price of the Blackbuck Ltd IPO?

The price of Blackbuck Ltd IPO ranges between ₹259 to ₹273 per share.

What are the open and close dates for the Blackbuck Ltd IPO?

The Blackbuck Ltd IPO opens on Nov 13, 2024 and closes on Nov 18, 2024.

When will the Blackbuck Ltd IPO be allotted?

The allotment for the Blackbuck Ltd IPO will be finalised on Nov 19, 2024. The shares will be listed on BSE and NSE on Nov 22, 2024.

What is the minimum lot size required for Blackbuck Ltd IPO?

The minimum lot size for Blackbuck Ltd IPO is 54 shares, priced between ₹259 to ₹273 per share.

What is the GMP of Blackbuck Ltd IPO?

The GMP (Grey Market Premium) of Blackbuck Ltd IPO fluctuates based on market demand and sentiment.

How do you check the allotment status of Blackbuck Ltd IPO?

To check the allotment status of Blackbuck Ltd IPO, visit the registrar's website, select the IPO, enter your PAN Card number, Application Number, or DP Client ID, and click 'search.'

Where is the Blackbuck Ltd IPO getting listed?

The Blackbuck Ltd IPO is getting listed on the BSE and NSE. Bidding opens on Nov 13, 2024, and closes on Nov 18, 2024. The allotment is finalised on Nov 19, 2024.

How do you apply for the Blackbuck Ltd IPO?

To apply for the Blackbuck Ltd IPO, download the BlinkX app, complete KYC, select the IPO, enter bid details, and submit. Verify UPI payment for shares allotment.