Zinka Logistics Solution Limited is gearing up to launch its initial public offering (IPO) for public bidding from November 13 to November 18. The company is known for its BlackBuck app, which aids truck operators by offering services such as payments, telematics, a freight marketplace, and vehicle financing. The IPO price band is set between ₹259 and ₹273 per share, with a minimum lot size of 54 shares. The shares are anticipated to be listed on domestic stock exchanges on November 21. Established in 2015, this digital payments platform has facilitated transactions for 963,345 truck operators in India during the financial year 2023-24, representing 27.52% of the total truck operators in the country.
Zinka Logistics Solution IPO — Important Points for Investors
1. Zinka Logistics Solution IPO Issue Size: The Bengaluru-based digital platform provider aims to raise approximately ₹1,114.72 crore through a new issue of ₹550 crore and an offer-for-sale valued at nearly ₹564.72 crore, which includes up to 2.07 crore shares from current shareholders and promoters.
2. Zinka Logistics Solution IPO Dates: The IPO will open for public subscription on Wednesday, November 13, and will close on Monday, November 18.
3. Zinka Logistics Solution IPO Price Band: The company has determined the IPO price band to be between ₹259 and ₹273 per share, with a lot size of 54 shares.
4. Zinka Logistics Solution IPO Listing Date: This mainboard IPO is expected to debut on the NSE and BSE indices on Thursday, November 21.
5. Zinka Logistics Solution IPO Anchor Round: The anchor round for the public issue is set for Tuesday, November 12.
6. Zinka Logistics Solution IPO Sellers: The public offering involves promoters and investors divesting their stakes in the company. The three promoters selling shares are Rajesh Kumar Naidu Yabaji, Chanakya Hridaya, and Ramasubramanian Balasubramaniam.
7. Zinka Logistics Solution IPO Reservation: The company has allocated at least 75% of the shares for Qualified Institutional Buyers (QIB), no more than 15% for Non-Institutional Investors (NII), and up to 10% for retail investors.
8. Zinka Logistics Solution IPO Proceeds: Funds raised from the new share issuance will be used to cover sales and marketing expenses, invest in Blackbuck Finserve to bolster its capital base for future requirements, support product development costs, and finance other general corporate activities.
9. Zinka Logistics Solution IPO GMP: As of November 10, the grey market premium (GMP) stands at ₹24 per share. At the upper limit of the price band of ₹273, the public offering is expected to list at ₹297, reflecting a premium of 8.79%.
The Grey Market Premium (GMP) indicates the investors’ willingness to pay above the public issue price.
10. Zinka Logistics Solution IPO’s Merchant Banker and Registrar: Axis Capital Limited, Morgan Stanley India Company Pvt Ltd, JM Financial Limited, and IIFL Securities Ltd are the book-running managers for the public issue, while Kfin Technologies Limited serves as the registrar.