Goldman Sachs Offloads 2.74% Stake in BlackBuck for INR 295 Cr Nomura India Investment Fund Mother Fund acquired around 41.16 lakh shares, representing a 2.29 percent stake, for close to INR 247 crore.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
Logistics marketplace BlackBuck witnessed a major block trade on Monday after Goldman Sachs trimmed part of its holding in the newly listed firm.
Stock exchange data showed the global investment bank sold nearly 49.1 lakh shares, amounting to a 2.74 percent stake, for about INR 295 crore. The shares changed hands at an average price of INR 600.32 apiece.
On the buying side, Nomura India Investment Fund Mother Fund acquired around 41.16 lakh shares, representing a 2.29 percent stake, for close to INR 247 crore. The purchase was made at an average price of INR 599.77 per share.
Earlier in August, US-based investment firm Sands Capital reduced its holding through three open market transactions, securing INR 191 crore. Before that, Ellington Management's offshore vehicle Ithan Creek Master Investors sold shares worth over INR 53 crore.
BlackBuck, founded in 2015 by Rajesh Yabaji, Chanakya Hridaya, and Subbu Allamaraju, operates a digital trucking platform that connects shippers with truck owners across India. The Bengaluru-based firm entered the unicorn club in 2021 after raising USD 67 million from Tribe Capital, IFC Emerging Asia Fund, and VEF, among others. Sands Capital also participated in earlier funding rounds.
For the first quarter of FY26, the company's revenue rose 56 percent year-on-year to INR 144 crore, compared to INR 92 crore a year earlier. Net profit improved 17.2 percent to INR 34 crore during the same period.
