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BlackBuck's early backers to reap 2-5x gains in IPO
Mint Mumbai
|November 19, 2024
The ₹1,114.72 crore IPO of the online trucking platform was fully subscribed on Monday at 1.2 times
Online trucking platform BlackBuck's early investors, including Quickroutes International, Tiger Global, Accel, and Sands Capital, are expected to clock 2-5x gains at the upper end of the price band in the startup's upcoming initial public offering (IPO), according to a Mint analysis.
Bengaluru-based BlackBuck expects to raise ₹550 crore in a fresh capital issue and sell up to 20,685,800 equity shares under the offer for sale (OFS) option. The ₹1,114.72 crore IPO was fully subscribed on Monday at 1.20 times. The portion set aside for qualified institutional buyers generated demand for 1.70 times the shares on offer.
This story is from the November 19, 2024 edition of Mint Mumbai.
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