Zinka Logistics IPO closes on November 18. The IPO opened on November 13 and aims to raise Rs 1,1142.72 crore. The issue is a combination of fresh shares and an offer for sale. The company’s IPO price band ranges between Rs 259 to Rs 273 per equity share and has seen steady retail participation.
Zinka Logistics IPO GMP
The company’s shares were neither fetching a premium nor a discount in the grey market. This indicates muted listing gains for the investors. The grey market is an unofficial place to trade shares ahead of listing.
Zinka Logistics (BlackBuck) IPO subscription status
As of November 14 (Day 02), the IPO had been subscribed 0.32 times. Employees responded in overwhelming numbers, subscribed it 5.37 times. Retail investors booked the issue 0.92 times, while NIIs showed a muted response, booking the issue 0.04 times.
BlackBuck IPO allotment and listing
The allotment of shares of Zinka Logistics is expected to be finalised by the registrar, Kfin Technologies, on November 19. The listing on NSE and BSE will likely be on November 21. The issue includes a reservation of up to 26,000 shares for employees, which are offered at a discount of Rs 25 to the issue price.
Zinka Logistics IPO minimum investment
The minimum investment required for a retail individual investor is 54 shares in a lot which amounts to Rs 14,742. There are different lot sizes for small and big NIIs. A small NII needs to invest for a minimum of Rs 2,06,388 while a big NII needs at least Rs 10,02,456.
Also ReadZinka Logistics Solution (BlackBuck) IPO to open on November 13: Details on issue price, allotment date, GMP
About Zinka Logistics
Zinka Logistics Solution provides a digital platform, the BlackBuck app, to truck operators. In FY24, around a million truck operators in India conducted their business through the app, representing 27.52% of all Indian truck operators. BlackBuck app is a platform that offers payments, telematics, a freight marketplace, and vehicle financing services to truck operators. As of March 31, 2024, the company processed a Gross Transaction Value (GTV) of Rs 17,396.19 crore in payments.
BlackBuck IPO’s lead managers
Axis Capital, Morgan Stanley India Company, JM Financial, and IIFL Securities are the book-running lead managers of the IPO.
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