Zinka Logistics Solutions IPO listing date today. Here’s what GMP, experts signal

Zinka Logistics Solutions IPO: Zinka Logistics Solutions, which operates the BlackBuck app – a digital platform designed for truck operators – is set to make its stock market debut today. Zinka Logistics Solutions IPO listing date is today.

The initial public offering (IPO) of Zinka Logistics Solutions Ltd was open for subscription from November 13 to 18 and the IPO allotment was fixed on November 20. Zinka Logistics Solutions IPO listing date has been fixed for November 22, Friday.

“Trading Members of the Exchange are hereby informed that effective from Friday, November 22, 2024, the equity shares of ZINKA LOGISTICS SOLUTIONS LIMITED shall be listed and admitted to dealings on the Exchange in the list of ‘B’ Group of Securities,” a notice on BSE said.

Zinka Logistics Solutions shares will be a part of Special Pre-open Session (SPOS) on Friday, November 22, and will be available for trading from 10:00 am.

Ahead of Zinka Logistics Solutions share listing today, investors look at the trends in the grey market premium (GMP) for the stock in order to gauge the listing price. Let us check what Zinka Logistics Solutions IPO GMP today indicates about the share listing price.

Zinka Logistics Solutions IPO GMP Today

Zinka Logistics Solutions shares are showing a muted trend in the unlisted market with a subdued grey market premium (GMP) today. According to stock market observers, Zinka Logistics Solutions IPO GMP today is ₹0 per share. This indicates that in the grey market, Zinka Logistics Solutions shares are trading at par with their IPO price at ₹273 apiece, which means without any premium or discount to the issue price.

Zinka Logistics Solution Share Price

Considering the Zinka Logistics Solutions IPO GMP today, the estimated listing price of Zinka Logistics Solutions shares would be ₹273 per share, which is equal to the issue price of ₹273 per share.

“The muted opening could likely be attributed to the weak market sentiments and the company’s high valuation concern. However, given the company’s strong market presence and industry tailwinds, it provides a good medium- to long-term opportunity. Overall, we believe that participants who have been allotted the shares hold it from a medium to long-term horizon, given the company’s robust growth potential,” said Sagar Shetty, Research Analyst, StoxBox.

Shivani Nyati, Head of Wealth at Swastika Investmart Ltd also noted that Zinka Logistics Solutions IPO GMP of 0% indicates a potential for a flat or even negative listing.

“The company’s strong network effects and position as a leading platform in the logistics industry are positive factors. However, financial challenges, including ongoing losses and negative cash flow, raise concerns. Additionally, the company’s legal challenges and recent employee layoffs indicate operational difficulties. The low promoter holding further adds to investor skepticism,” Nyati said.

Given the company’s financial performance, operational challenges, and the lack of a clear valuation metric, investors are advised to exercise caution, she added.

Zinka Logistics Solutions IPO Details

Zinka Logistics Solutions IPO opened for public subscription on Wednesday, November 13, and ended on Monday, November 18. The IPO allotment was finalized on November 20, and Zinka Logistics Solutions IPO listing date is today, November 22. Zinka Logistics Solutions shares will be listed on both the stock exchanges, BSE and NSE.

The company raised ₹1,114.72 crore from the book-built at the IPO price band of ₹259 to ₹273 per share. Zinka Logistics Solutions IPO comprised a combination of fresh issue of 2.01 crore equity shares worth ₹550 crore and an offer-for-sale (OFS) of 2.07 crore shares amounting to ₹564.72 crore.

Zinka Logistics Solutions IPO received 1.86 times subscription in total as it attracted bids for over 4.19 crore equity shares as against 2.25 crore shares on the offer, as per NSE data.

The company plans to utilse the net issue proceeds for funding towards sales and marketing costs, investment in its NBFC subsidiary, funding of expenditure about product development and general corporate purposes.

Axis Capital, Morgan Stanley India Company, JM Financial and IIFL Securities are the book running lead managers of the Zinka Logistics Solutions IPO, while Kfin Technologies is the IPO registrar.

Zinka Logistics Solutions Ltd is India’s largest digital platform for truck operators in terms of number of users, with 963,345 truck operators in the country transacting on its platform in FY24, which comprises 27.52% of India’s truck operators. The company’s total income grew at a CAGR of approximately 42.38% from FY22 to FY24.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.