Issue Subscribed 30% On Day 2 So Far

SUMMARY

Retail individuals have subscribed to the BlackBuck IPO by 84%, whereas the certified institutional consumers portion has been booked 0.25 instances

On the the higher finish of the value vary of INR 259-273, BlackBuck’s IPO will fetch round INR 1,115 Cr from buyers

Based in 2015, BlackBuck operates an internet B2B market for inter-city full truck load (FTL) transportation

Replace | November 14, 2:40 PM

The preliminary public providing (IPO) of logistics unicorn BlackBuck is witnessing muted response from buyers as the problem has been subscribed solely 30% on the second day of bidding course of to this point.

The preliminary share sale attracted bids for 68.45 Lakh shares as towards 2.24 Cr shares on provide until 2:30 PM at this time (November 14).

Retail individuals bid for 34.22 Lakh shares out of 40.80 Lakh shares reserved for them, subscribing to the problem by 84%.

The portion reserved for certified institutional consumers was booked 0.25 instances, attracting bids for INR 30.97 Lakh shares as towards 1.22 Cr shares on provide.

Whereas the worker portion was oversubscribed 4.97 instances, that of non-institutional consumers was booked solely 0.25 instances. 

Authentic Story | November 14, 11:23 AM

Pushed by strong demand from retail buyers, the preliminary public providing (IPO) of logistics main BlackBuck has been subscribed 28% on the second day of the bidding course of.

Traders had bid for 62.40 Lakh shares out of two.24 Cr shares reserved for them until 11:03 AM at this time (November 14), as per BSE information.

The quota reserved for retail individuals attracted bids for 28.90 Lakh shares as towards 40.80 Lakh shares on provide, translating to a 71% subscription.

Certified institutional consumers bid for 30.94 Lakh shares out of 1.22 Cr shares reserved for them, subscribing to the problem by 25%.

The BlackBuck IPO garnered least curiosity from non-institutional consumers, who booked the problem 0.02 instances, inserting bids for 1.45 Lakh shares as towards 61.21 Lakh shares on provide. The worker portion has been oversubscribed 4.25X.

On the finish of the primary day of the bidding course of, BlackBuck’s IPO was subscribed 24%.

Based in 2015 by Rajesh Kumar Naidu Yabaji, Chanakya Hridaya and Ramasubramanian Balasubramaniam, BlackBuck operates an internet B2B market for inter-city full truck load (FTL) transportation.

Its platform supplies fee choices, load market, and car financing companies to truck operators within the nation. The corporate claims to be the web trucking platform in India, accounting for 27% market share of all truck operators.

The corporate has mounted a worth vary of INR 259 to INR 273 per fairness share for its IPO, which can be accessible for bidding until November 18. 

On the higher finish of the value band, Zaggle goals to boost as a lot as INR 1,114.72 Cr by way of its IPO.

Forward of its IPO, BlackBuck raised INR 501 Cr from anchor buyers, together with Nomura, Invesco, SBI, Streadview, Hornbill Orchid India Fund, TIMF Holdings, Florida Retirement System, Massachusetts Institute of Expertise, Carmignac Portfolio, BNP Paribas Funds, Pinebridge International Funds, amongst others.

The corporate reported a internet revenue of INR 28.67 Cr within the first quarter of the monetary yr 2024-25 (Q1 FY25) on an working income of INR 92.16 Cr.

BlackBuck’s IPO comes at a time when India has emerged a hotbed for startup IPOs, with almost a dozen new-age tech firms making their inventory market debut this yr. The checklist consists of Ola Electrical, Unicommerce, FirstCry, ixigo, Menhood, amongst others.

Meals supply and fast commerce big Swiggy made its Dalal Road debut on November 13, with its shares itemizing at a 8% premium on the NSE.  

Various different startups reminiscent of Ecom Categorical, Zappfresh, Insurgent Meals, Ather Vitality, amongst others, are additionally eyeing a public itemizing within the coming months.