Sands Capital trims BlackBuck stake worth Rs 191 Cr within a week

US-based investment firm Sands Capital has reduced its stake in logistics unicorn BlackBuck through three open market transactions this month, pocketing around Rs 191 crore from the partial exit.

Stock exchange data shows Sands Capital Private Growth II sold 1.46% of BlackBuck (Zinka Logistics Solutions) on August 13 across two block deals. The deal involved about 26.3 lakh shares on the BSE and NSE at an average price of Rs 515.66 per share, amounting to Rs 135.6 crore.

This came just days after the fund sold 0.6% of the company on August 8 for Rs 55.58 crore. In that deal, it offloaded 10.68 lakh shares at Rs 520.47 per share.

Together, the sales represent roughly 2.06% of the company’s equity. The buyers in these trades have not been disclosed, though market sources suggest that domestic institutional investors and high-net-worth individuals could be among them.

Last week, Wellington Management’s offshore investment fund Ithan Creek Master Investors also offloaded over Rs 53 crore worth stake in 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.

BlackBuck went public earlier this year, becoming one of the rare logistics-tech players to list on Indian exchanges. The company has seen positive investor sentiment post-listing, driven by narrowing losses and a rebound in freight activity.

For Sands Capital, the move is seen as a partial profit booking following the listing, rather than a complete exit. The firm continues to hold a sizeable stake in BlackBuck.

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.