New Delhi: BlackBuck founder Vikram Singhania and founder Vikram Upadhyaya sold part of their stakes worth 243 crore rupees in a big block deal this week. This action has attracted investors and the startup community. BlackBuck is a popular India based technology logistics company in India which collaborates with truck operators and businesses.
Reports indicate that the sale of the shares was conducted as a liquidity move, and it was planned. This implies that the founders had an interest in turning a part of their stocks into cash. According to experts such moves are common when the startups become large and mature.
There are those who were concerned to begin with whether this reflected poor confidence in the company by the founders. Nevertheless, commentators justified this move by saying that founders typically dispose of a minor portion of their stake. They are still very active in the business management.
BlackBuck has been steadily increasing and enhancing its financial performance. The company is concerned with digital payments, freight matching, and fleet services. Ecommerce is also growing in India and that is why the logistics sector is also developing.
