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Founders sell BlackBuck shares worth Rs.243-Cr

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BlackBuck's three cofounders, Rajesh Yabaji, Chanakya Hridaya, and Ramasubramanian Balasubramaniam, collectively sold 3.6 million shares for INR 243.5 crore at INR 676.6 per share through multiple block deals. This transaction follows previous share offloads by PE investors Goldman Sachs, Sands Capital, and Wellington Management over the past four months.Founded in 2015 by Rajesh Yabaji, Chanakya Hridaya, and Ramasubramanian Balasubramaniam, BlackBuck operates an online B2B marketplace for inter-city full truck load (FTL) transportation, connecting truck operators with businesses for real-time shipping requirements. The company also provides telematics solutions and vehicle financing. The cofounders' share offloading aligns with booking profits amidst a period of appreciating stock prices.Following the sales, Rajesh Yabaji's shareholding decreased from 11.81% to 10.7%, Chanakya Hridaya's from 7.89% to 7.45%, and Ramasubramanian Balasubramaniam's from 7.42% to 6.98%.

Between Jun-15 and Nov-24, Blackbuck had attracted about USD 352 M from Accel India, Flipkart, Apoletto, Tiger Global, Peak XV Partners, Sands Capital, IFC, Accel USA, B Capital Group, Goldman Sachs, Light Street Capital, Wellington Management, Trifecta Capital, VEF, Think Investments, Others.