Flipkart, Accel, Peak XV Exit Stakes in BlackBuck in Post-IPO Bulk Deals Ecommerce major Flipkart, through its subsidiary Quick Routes International, exited its entire 9.01% stake in BlackBuck, fetching INR 672 crore via two bulk deals. Flipkart had already sold 3.9 million shares during BlackBuck's public listing late last year.
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Early investors in logistics platform BlackBuck, operated by Zinka Logistics, have offloaded significant stakes in a series of block and bulk deals just months after the company's IPO in November 2024.
Ecommerce major Flipkart, through its subsidiary Quick Routes International, exited its entire 9.01% stake in BlackBuck, fetching INR 672 crore via two bulk deals. Flipkart had already sold 3.9 million shares during BlackBuck's public listing late last year.
Accel, another early investor, also exited partially by selling its 2.7% stake through its affiliates — Accel India IV (Mauritius) and Accel Growth Fund V — for approximately INR 204 crore. The shares were sold in the range of INR 420.04–420.29 apiece on the NSE.
Meanwhile, Peak XV Partners' affiliate offloaded 12.1 lakh shares for INR 53.84 crore, translating to INR 444.71 per share.
Institutional investors stepped in to absorb the supply. The Abu Dhabi Investment Authority, Massachusetts Institute of Technology, ICICI Prudential Mutual Fund, SBI Mutual Fund, and Nomura India collectively picked up 83.87 lakh shares, amounting to a 4.73% stake in Zinka Logistics. Notably, ICICI Prudential Life Insurance acquired 9.52 lakh shares for INR 40 crore.
Shares of Zinka Logistics opened at INR 445 on Wednesday on the NSE.
BlackBuck, based in Bengaluru, operates a trucking marketplace enabling truckers to secure loads efficiently while providing shippers access to reliable freight services.
Separately, Flipkart also exited its 6% stake in Aditya Birla Fashion and Retail Ltd (ABFRL) via block deals worth INR 583 crore. This transaction caused ABFRL shares to tumble nearly 11% to INR 76.94 on the NSE.
Goldman Sachs served as the sole bookrunner for the ABFRL deal, where up to 7.31 crore shares were sold at a floor price of INR 79.50 — a 7.6% discount to the previous close.
