Zinka Logistics IPO: Rs 1,114.72 Cr Mainboard IPO To Open On November 13; GMP, Date, Listing All Details Here

For the initial public offering, Zinka Logistics Solutions Limited has set the price band of Rs 259/- to Rs 273/-per equity share with a face value of Rs 1/-each. Zinka Logistics Solution Limited IPO (BlackBuck IPO), is a book-built issue for Rs 1,114.72 crores. The offering consists of an offer for sale (OFS) of 2.07 crore shares for a total of Rs 564.72 crores and a fresh issuance of 2.01 crore shares worth Rs 550.00 crores. The company's Initial Public Offering (IPO) will go live for subscriptions on Wednesday, November 13, 2024, and end on Monday, November 18, 2024. A minimum of 54 equity shares can be bid on by investors, and they can subsequently bid in multiples of 54 equity shares.

On Tuesday, November 19, 2024, the allocation of shares for the BlackBuck IPO is anticipated to be finalised. The BlackBuck IPO is scheduled to go public on the BSE and NSE on Thursday, November 21, 2024. Promoters and investors selling shareholders can offer up to 20,685,800 equity shares as a part of the OFS segment in addition to a fresh offering of up to Rs 550 crore. Eligible employees who bid in the employee reservation section will receive a discount of Rs 25 per equity share from Zinka Logistics Solutions IPO.

The book-running lead managers of the BlackBuck IPO are Axis Capital Limited, Morgan Stanley India Company Pvt Ltd, Jm Financial Limited, and Iifl Securities Ltd whereas the issue's registrar is Kfin Technologies Limited. Approximately Rs 200 crore of the proceeds from its fresh issuance will be used for funding sales and marketing expenses, Rs 140 crore will be invested in Blackbuck Finserve Private Limited to fund the expansion of its capital base to meet its future capital needs, Rs 75 crore will be used to fund expenditures related to product development, and generally for corporate purposes as per the DRHP.

Through the book-building process, the offer is being made, with a minimum of 75% of the net offer being in relation available for allocation to qualified institutional buyers, a maximum of 15% available for allocation to non-institutional investors, and a maximum of 10% available for allocation to retail individual investors.

Zinka Logistics' consolidated revenue from continuing operations climbed from Rs 175.68 crore in fiscal year 2023 to Rs 296.92 crore in fiscal year 2024, a 69.01% growth. The spike was mostly caused by an increase in the average number of truck operators it transacted with each month, which raised commission income, subscription fees, and service fees. Revenue from operations was Rs 92.17 crore for the three months that ended on June 30, 2024, while profit after tax was Rs 28.67 crore. Zinka Logistics had a sizable workforce as of June 30, 2024, with 3,688 contract workers and 1,849 permanent employees.

With 963,345 truck operators transacting on the platform in fiscal 2024-or 27.52% of all truck operators in India-Zinka Logistics Solutions Limited is the largest digital platform for truck operators in the nation. The company's cutting-edge BlackBuck app functions as a complete platform, including options for load management, monitoring, payments, and vehicle financing. The company's fleet increased from 482,446 in FY2022 to 963,345 in FY2024, accounting for 27.52% of truck operators in India. As of June 30, 2024, the company's network of 9,374 touchpoints, which includes all significant transportation hubs and 76% of the toll plaza network, covers 80% of India's districts, demonstrating its wide presence.

During the three months ending June 30, 2024, and fiscal year 2024, Zinka Logistics handled payments of Rs 17,396.19 crore and a gross transaction value (GTV) of Rs 5,356.20 crore. Market watchers in the grey market have given the IPO a positive emphasis as Zinka Logistics Solutions approaches the opening date for its subscription date in two days. This is because the latest GMP for the BlackBuck IPO was Rs 24, which was last updated on November 11, 2024, at 06:58 AM. The projected listing price for the BlackBuck IPO is Rs 297 (upper price band of Rs 273 + current GMP). Therefore, based on the current GMP, the anticipated listing premium for Zinka Logistics Solutions IPO is 8.79%.