Akshata Sharma
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BlackBuck (Zinka Logistics Solutions Pvt. Ltd.) just became the latest new-age tech startup to file its IPO comprising a fresh issue of shares worth INR 550 Cr and an OFS component of up to 2.16 Cr shares. Let's take a closer look at the Flipkart-backed startup's cap table
* The company's oldest backer, Accel India, is the leading stakeholder in the company - holds a 17.07% stake, or 2.83 Cr shares, in the startup.
* Under its Accel India IV fund, the firm owns 14.06% stake in the company, while Accel Growth Fund V holds 3.01% stake.
* The second largest stakeholder in the startup is Flipkart's subsidiary Quickroutes International, which holds 12.97% stake. Flipkart first invested in the startup in 2015, when it participated in its $25 Mn Series B round.
Founded in 2015 by Rajesh Yabaji, Chanakya Hridaya and Ramasubramanian B - BlackBuck operates an online B2B marketplace for inter-city full truck load (FTL) transportation.
It claims to be the largest online trucking platform in India, accounting for 27% market share of all truck operators.
It aims to deploy INR 140 Cr from the IPO proceeds in its NBFC subsidiary BlackBuck Finserv.
However, the largest chunk of capital, INR 200 Cr, will be utilised for sales and marketing activities. Besides, the startup will also spend on product development and general corporate purposes.
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