Rajesh Yabaji Offloads ₹135 Crore Worth of Shares as BlackBuck Founders Trim Stakes

BlackBuck’s co-founder and CEO, Rajesh Kumar Naidu Yabaji, has sold a portion of his stake in the company in a bulk deal on Tuesday, signalling a significant promoter-level share movement at the logistics technology firm. Yabaji sold 20 lakh shares at ₹676.40 per share, amounting to approximately ₹135 crore. Before the sale, he held 2.13 crore shares, or 11.81% of BlackBuck’s total equity. His stake now stands at 1.93 crore shares, representing 10.7%.

The largest participant on the buying side was Discovery Global Opportunity (Mauritius) Ltd, which picked up 13 lakh shares worth around ₹88 crore, according to exchange data.

Founders Offload 36 Lakh Shares in Block Deal

The transaction involving Yabaji was part of a larger block deal executed on 18 November 2025, during which BlackBuck’s founding team collectively sold 36 lakh shares. Alongside Yabaji, co-founders Chanakya Hridaya (COO) and Ramasubramaniam B (Executive Director) sold 8 lakh shares each.

All three promoters sold their shares at the same price of ₹676.40, as reported by the Economic Times. After the sale:

• Hridaya’s stake reduced to 7.45%
• Ramasubramaniam’s stake reduced to 6.98%

The block deal attracted several major institutional buyers, including Citigroup, Goldman Sachs, Morgan Stanley, and Motilal Oswal. Their participation indicates continued institutional confidence in BlackBuck, even as the founders chose to monetise part of their holdings.

Market analysts noted that while Yabaji’s bulk deal featured separately in regulatory filings, it formed a substantial portion of the founders’ larger stake sale on the same day.

Company’s Recent Performance Shows Strong Momentum

The share sale follows a period of strong financial improvement for BlackBuck. In the September quarter of FY26, the company reported:

• 53% year-on-year growth in revenue, rising to ₹151.1 crore from ₹98.7 crore
• A net profit of ₹29.19 crore, marking a major turnaround from the ₹308.3 crore loss recorded in the same quarter last year
• An increase in operating expenses to ₹128.2 crore, up from ₹91.7 crore, reflecting expanded business activity

BlackBuck, operated by Zinka Logistics Solutions, has been doubling down on digital freight services and trucking operations, a sector that continues to rebound post-pandemic. Analysts have previously highlighted the company’s improved margins and disciplined cost structure as reasons for its stronger financial showing in FY26.

Why This Sale Matters

Founder-level secondary transactions have become more common among late-stage startups as:

• Founders diversify their personal portfolios
• Investors seek long-term commitment from promoters
• Companies progress towards operational stability or IPO readiness

In BlackBuck’s case, the sale indicates investor confidence in the platform as it continues to expand its SaaS and digital payments offerings for fleet operators.