Blackbuck founders sell 36 lakh shares worth Rs 243 crore in block deal

BlackBuck’s three cofounders sold shares worth ₹243.5 crore in the listed logistics company through multiple block deals yesterday.

According to Trendlyne, the three cofounders sold a total of 36 lakh shares at ₹676.6 each. CEO Rajesh Yabaji sold 20 lakh shares for ₹135.3 crore, while COO Chanakya Hridaya and executive director Ramasubramanian Balasubramaniam sold 8 lakh shares each for ₹54.11 crore.

After the sale, Yabaji’s stake in the company fell to 10.7% from 11.81%. Hridaya’s shareholding dropped to 7.45% from 7.89%, and Balasubramaniam’s stake decreased to 6.98% from 7.42%.

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The shares released into the market were bought by Discovery Global Opportunity Mauritius Ltd., TIMF Holdings, Motilal Oswal Financial Services, 360 ONE Asset Management, Citigroup, Goldman Sachs, and several others.

This marks the fourth time in the past four months that investors have sold stakes in the logistics giant. In September, Goldman Sachs offloaded 49.1 lakh shares worth ₹294.7 crore.

Before that, in August, Sands Capital sold shares worth ₹135.6 crore through two block deals, and Wellington Management also exited shares worth ₹53.7 crore.

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Founded in 2015 by Rajesh Yabaji, Chanakya Hridaya, and Subbu Allamaraju, BlackBuck operates a trucking marketplace that connects shippers with truck owners across India. The Bengaluru-based startup became a unicorn in 2021 after raising $67 million from Tribe Capital, IFC Emerging Asia Fund, VEF, and others. Sands Capital also invested in earlier rounds.

In Q2 FY26, the company reported a 5% year-on-year increase in revenue, reaching ₹151 crore, up from ₹99 crore in Q1 FY26. It also posted a profit of ₹29 crore for the quarter.

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