Goldman Sachs trims stake in BlackBuck, Nomura steps in with Rs 247 Cr buy

Logistics marketplace BlackBuck witnessed a large block trade on Monday as Goldman Sachs pared a portion of its holding in the recently listed company. According to stock exchange data, Goldman Sachs offloaded nearly 49.1 lakh shares, representing a 2.74% stake, for about Rs 295 crore.

The shares were sold at an average price of Rs 600.32 per share. On the other side, Nomura India Investment Fund Mother Fund picked up around 41.16 lakh shares or 2.29% stake in the company, spending close to Rs 247 crore at an average price of Rs 599.77 per share.

Earlier this month, US-based investment firm Sands Capital also reduced its stake in logistics unicorn BlackBuck through three open market transactions, pocketing Rs 191 crore. Before that, Ellington Management’s offshore investment fund Ithan Creek Master Investors also offloaded over Rs 53 crore worth of stake in the B2B logistics firm.

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

During the first quarter of the ongoing fiscal year (Q1 FY26), the company reported a 56% year-on-year increase in its revenue to Rs 144 crore, from Rs 92 crore in Q1FY26. At the same time, profits for the firm grew 17.2% to Rs 34 crore.

The company is currently trading at Rs 642 (as on 11.03 AM) with the total market capitalization of Rs 11,530 crore ($1.3 billion).