Zinka Logistics Solution’s initial public offering (IPO), which is slated to open for subscription on November 13 and close on November 18, is priced in the range of ₹259 to ₹273 per share.
The company plans to raise ₹1,115 crore via the initial share sale. The IPO consists of a combination of a fresh issue of 2.01 crore shares, worth ₹550 crore, and an offer for sale (OFS) of 2.07 crore shares, aggregating to ₹564.72 crore.
Investors can bid for a minimum lot of 54 shares and its multiples thereafter. For retail investors, the minimum bid size is ₹14,742.
In the IPO, not less than 75% of the offer is reserved for qualified institutional buyers (QIBs), not more than 10% is reserved for retail investors, and not more than 15% is reserved for non-institutional investors.
Zinka Logistics Solution IPO allotment is slated for November 19, with the initiation of refunds and credit of shares into the demat accounts of shareholders likely to take place on November 20. Zinka Logistics Solution shares are expected to list on the bourses – NSE and BSE – on November 21.
Zinka Logistics Solution IPO GMP
Zinka Logistics Solutions IPO GMP or grey market premium is ₹24. This means that Zinka Logistics shares are trading at a premium of ₹24 over the IPO price of ₹273 in the unlisted market. At current GMP levels, Zinka Logistics Solutions IPO is likely to debut on the bourses at a premium of 8.79%.
The company’s shares have seen a rise in their GMP from ₹8 on November 8 to ₹24 as of today. Meanwhile, from November 9 to November 11, the GMP was trading steadily at ₹24 levels. GMP gives an indication of investors’ willingness to pay more than the issue price.
About Zinka Logistics Solutions
Zinka Logistics Solutions is one of India’s biggest digital platforms for truck operators, based on the number of users. It had 963,345 truck operators using the platform in Fiscal 2024, representing 27.52% of all truck operators in the country, according to the company’s RHP and a Redseer report.
Zinka Logistics Solution provides services through a digital platform called the BlackBuck app. The app helps truck operators by offering services like payments, vehicle tracking, a marketplace for freight, and financing options to make their work easier and more efficient.
In the three months ending June 30, 2024, the company reported a gross transaction value (GTV) of ₹53,562.01 million in payments. For Fiscal 2024, the GTV reached ₹173,961.93 million.
