BlackBuck, the largest trucking network in the country, which is backed by Flipkart, is planning to go public next financial year.
According to media reports, the unicorn aims to raise $300 million from the IPO.
Moneycontrol reported that the company has recently appointed merchant bankers and lawyers to advise on their IPO. The company has also started working on preparation of their draft red herring prospectus (DRHP), the report said, citing sources.
"They are looking to file the DRHP with the full FY24 financial numbers. The company is looking to hit the market with its IPO in the second half of FY25,” a source has been quoted as saying.
About the company
BlackBuck, which was founded in 2015, has been a pioneer in bringing the offline operations of trucking online. The company "makes trucking simple for every shipper and trucker."
"We at BlackBuck are committed to making it easier for millions of truckers to book a load and move at capacity, and enable shippers of all sizes to have access to the right truck, at the right time for the right price – all at a click of a button," says the company.
According to the website of BlackBuck, the company has over 15,000 clients.