Zinka Logistics Solutions IPO: Share Allotment Likely Today, GMP Muted; How To Check Status Online?

The allotment of shares for Zinka Logistics Solutions Ltd, known for its digital logistics platform, is set to be finalized today, November 19. The initial public offering (IPO) of the company concluded on November 18, recording decent overall subscription figures. The listing of shares is scheduled for November 21 on both the BSE and NSE.

IPO Details

The Zinka Logistics Solutions IPO opened for bidding on November 13 and closed on November 18, with a price band of Rs 259 to Rs 273 per share. The company successfully raised Rs 1,114.72 crore at the upper price band through a combination of a fresh issue and an offer-for-sale (OFS). The company had a fresh issue of 2.01 crore equity shares, raising Rs 550 crore. In the OFS segment, existing shareholders sold 2.07 crore shares, amounting to Rs 564.72 crore.

The proceeds from the IPO will be utilized for funding sales and marketing initiatives, investment in the company's Non-Banking Financial Company (NBFC) subsidiary, product development, and general corporate purposes.

Subscription Insights

The IPO saw a total subscription of 1.86 times, according to data on the NSE. The response was led by Qualified Institutional Buyers (QIBs), while retail investors also showed moderate interest. The QIB segment was subscribed 2.76 times, Retail Investors saw a subscription of 1.66 times and the Non-Institutional Investors (NIIs) subscribed 0.24 times.

The relatively low response in the NII category could be attributed to the cautious sentiment among high-net-worth individuals in the current market environment.

Checking IPO Allotment Status

Investors who applied for Zinka Logistics Solutions IPO can check their allotment status online through the BSE, NSE, or the IPO registrar Kfin Technologies.

On BSE Website:

Visit the BSE IPO Allotment Page.
Select 'Equity' under the Issue Type.
Choose 'Zinka Logistics Solutions Ltd.' from the dropdown menu.
Enter your Application Number or PAN.
Complete the CAPTCHA verification and click 'Search.'

On Kfin Technologies Website:

Go to the Kfin IPO Allotment Page.
Select 'Zinka Logistics Solutions Ltd.' under the IPO dropdown.
Choose an identification option (Application Number, PAN, or Demat Account).
Fill in the required details and CAPTCHA, then click 'Submit.'

Investors whose applications are successful will have the allotted shares credited to their demat accounts on November 20. Refunds for unsuccessful bids will also be processed on the same day.

Grey Market Performance (GMP)

The grey market premium (GMP) for Zinka Logistics Solutions shares is currently at Rs 0, indicating that the shares are trading at par with the issue price. This muted trend suggests that the market anticipates limited listing gains. Based on the GMP, the estimated listing price is Rs 273 per share, equivalent to the issue price.

Company Background and Growth Prospects

Zinka Logistics Solutions, known for its digital freight marketplace, plays a pivotal role in connecting truck operators with businesses. The company aims to enhance efficiency in the logistics sector, which is vital for India's economic growth.

The company's strategic investment in its NBFC arm also highlights its focus on providing financial support to truck operators, potentially fostering long-term relationships and loyalty.

The allotment outcome today will set the stage for the stock's debut on November 21. Investors will watch how the market reacts to Zinka's business model and growth potential amid cautious sentiment in the broader market.