The Securities and Exchange Board of India (SEBI) has approved Zinka Logistics Solutions, the parent company of logistics startup BlackBuck (Zinka Logistics Solutions Pvt. Ltd.), for its more than INR 550 Cr IPO.
The markets regulator sent BlackBuck the last observation letter on October 3, according to a document from SEBI.
The unicorn in logistics, which operates an online marketplace for truckers and freight carriers, filed its draft red herring prospectus (DRHP) in July with support from notable investors such as Peak XV, Accel, Tiger Global, and others.
Its offering consists of up to 2.16 Cr shares for the offer for sale (OFS) and new equity worth INR 550 Cr shares.
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