BlackBuck IPO: Issue Subscribed 53% On Final Day So Far

Here are the key details of the BlackBuck IPO

The BlackBuck IPO was subscribed 53% on the final day of the offer.
The IPO received bids for 33.45 crore shares against the offer size of 63.37 crore shares.
The retail portion of the IPO was subscribed 1.14 times, while the qualified institutional buyers (QIBs) portion was subscribed 29%.
The non-institutional investors (NIIs) portion was subscribed 10%.
The company plans to raise Rs 2,500 crore through the IPO.
The IPO is expected to close on April 7, 2023.

BlackBuck is a technology-enabled logistics provider that connects shippers and carriers in India.

The company offers a range of services, including freight management, trucking, and warehousing.

BlackBuck has a network of over 12,000 carriers and serves over 1,200 customers.

The company's revenue grew by 51% in FY22 to Rs 1,490 crore.

BlackBuck is backed by investors such as Tiger Global Management, Sequoia Capital, and Accel Partners.

BlackBuck plans to use the proceeds from the IPO to expand its technology platform and invest in growth initiatives.

The company plans to invest in new technologies such as artificial intelligence and machine learning to improve its logistics operations.

BlackBuck also plans to expand its presence in new markets and verticals.

The company's long-term goal is to become the leading logistics provider in India.

The BlackBuck IPO is a major milestone for the company and the logistics industry in India.

The IPO is expected to provide BlackBuck with the resources it needs to continue to grow and expand its business.

The IPO is also a positive sign for the Indian logistics industry, which is expected to grow rapidly in the coming years.