Zinka Logistics Solutions Limited’s Initial Public Offer, IPO, will open on November 13. Retail investors will be able to bid on this issue until November 18. After this, they will conduct the allotment on November 19, and they will list the shares on BSE and NSE on November 21.
In this IPO of Rs 1114.72 crore, the company will issue new shares worth Rs 550 crore, while existing shareholders and promoters will offer 2.16 crore shares for sale. The value of OFS at the upper price band will be around Rs 564.72 crore.
Retail investors can bid for a maximum of 756 shares of Zinka Logistics Solutions
Zinka Logistics Solutions Limited has fixed the price band for its public issue at Rs 259-273 per share. Retail investors can bid for a minimum of one lot, i.e. 54 shares. If you apply for one lot as per the upper price band of the IPO of Rs 273, then you will have to invest Rs 14,742 for it.
At the same time, retail investors can apply for a maximum of 14 lots i.e. 756 shares. For this, investors will have to invest Rs 206,388 as per the upper price band. The employees of the company will get a discount of Rs 25 per equity share in the IPO.
10% share reserved for retail investors
Qualified institutional buyers reserve 75% of the IPO, retail investors receive 10%, and non-institutional investors receive 15%. Axis Capital Limited, Morgan Stanley India Company Private Limited, JM Financial Limited and IIFL Securities Limited are the book-running lead managers for the IPO. KFin Technologies Limited is the registrar of the issue.
The company will use proceeds from the IPO to fund sales and marketing costs, invest in its NBFC subsidiary Blackbug Finserv Private Limited, cover product development expenses, and support general corporate purposes.
What does Zinka Logistics Solutions do?
Zinka Logistics is India’s largest digital platform for truck operators. The company was started in 2015. Jinka’s platform provides tailored solutions for digital payments, fleet management, load matching and vehicle financing. It has a market share of 32.92% in the tolling segment. The company is also known as BlackBug. The promoters of the company are Rajesh Kumar Naidu Yabaji, Chanakya Hriday and Ramasubramanian Balasubramanian.
