Accel Sells ₹155.5 Crore Stake in BlackBuck
Early investor Accel India sold 2.7 million shares in logistics firm BlackBuck for ₹155.5 crore in an open-market transaction. The sale follows a recent uptick in BlackBuck's stock performance.
Venture capital firm Accel India sold 2.7 million shares of logistics company BlackBuck for ₹155.5 crore through an open-market transaction on Tuesday. The shares were offloaded at ₹576.05 each, a discount of 8.4% to the stock's closing price on Friday.
Data from the National Stock Exchange (NSE) indicates that asset management company Abakkus Investment Managers acquired the shares. Accel, through its affiliate Accel India IV (Mauritius), was an early backer of BlackBuck and held a 7.17% stake in the company as of June 2026.
The block deal occurs as investors seek to book profits following a recent rise in BlackBuck's share price. The stock has climbed approximately 18% over the past three months, though it remains down 7.6% year-to-date.
BlackBuck's stock performance has been supported by its financial and operational results. The company reported a 25% increase in net profit to ₹42.2 crore for the first quarter of fiscal year 2026-27, compared to ₹33.7 crore in the same period last year. Revenue from operations grew 42% year-over-year and 10% quarter-over-quarter to ₹204.2 crore.
Founded in 2015, BlackBuck operates an online B2B marketplace for inter-city full truck load (FTL) transportation. It also provides telematics solutions and vehicle financing services to truck operators. The company stated it served 8.83 lakh customers in the first quarter and increased monthly transacting customers using multiple services by 20% year-over-year to 4.6 lakh.