Zinka Logistics Solution better known as BlackBuck offers a digital platform to truck operators. The company closed the IPO on November 18 and opened on November 13. The allotment of the shares will be finalised on November 19.
Here’s how you can check the allotment:
Step 1
Open any web browser and search Kfin Technologies. This is where you can check the allotment status of Zinka Logistics Solution.
Step 2
Open the website of Kfin Technologies and hover on the ‘Products’. Now, in the drop-down menu go to the investors section and click on the IPO allotment status or click on Kfin Technologies.
Step 3
Fill in all your details – the company’s name, Application number/ Demat account/ or PAN number (any of the three).
Step 4
Enter the captcha and hit the search button. After that, a screen will pop up with the status.
Listing and refund
The listing of Zinka Logistics on the bourses – NSE and BSE – will likely be on November 21. The refunds will be initiated on November 20 and shares will also be credited on the same date.
Zinka Logistics IPO GMP
The company shares were neither attracting a premium nor a discount in the grey market. This GMP signalled towards muted listing gains. The grey market is an unofficial place where shares change hands illegally before listing on the exchanges. Market participants keep track of GMP to take cues for the shares that are about to hit the secondary market.
Zinka Logistics Solution IPO Details
Zinka Logistics offered 2 crore fresh shares and 2 crore shares of promoters and selling shareholders to pocket Rs 564.72 crore. It offered the issue at a price band of Rs 259 to 273 per equity share. The lead managing book-runners were Axis Capital, Morgan Stanley India Company, JM Financial and IIFL Securities.
Also ReadZinka Logistics IPO closes today: Here are 6 things to know if you plan to subscribe
Objectives of IPO
The company propose to utilise the raised proceeds for funding sales and marketing costs and investment in Blackbuck Finserve, its NBFC subsidiary, for financing the augmentation of its capital base to meet its future capital requirements.
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