Zinka Logistics Solution IPO may list at a price of Rs 273 on the bourses. The IPO was neither attracting a premium nor a discount in the grey market, indicating a muted listing.
The grey market is an irregulated place where shares of a company are traded illegally ahead of listing. Market participants keep an eye on the GMP to track listing gains.
Zinka Logistics IPO key details
The IPO opened on November 18 and raised a sum of Rs 1,114.72 crore from investors. The IPO closed on November 18. The company sold 4.08 crore shares through a combination of fresh shares and an offer for sale. The company’s IPO price band ranged between Rs 259 to Rs 273 per equity share.
Zinka Logistics IPO allotment
The allotment of BlackBuck IPO shares was finalised on November 19 while the shares were credited in the D’mat accounts on November 20 along with the refund.
Also, the issue included a reservation of 26,000 shares for employees, which were offered to them at a discount of Rs 25 to the issue price.
Minimum investment
A retail buyer had to apply for a minimum of 54 shares in a lot, which amounts to Rs 14,742. There were different lot sizes for small and big NIIs, ranging from Rs 2,06,388 to Rs 10,02,456.
Also ReadCatch all the live updates on the listing of Zinka Logistics on our live blog
About Zinka Logistics Solution
Zinka Logistics Solutions (“Zinka”) is India’s largest digital platform for truck operators (in terms of number of users), with 9.6 lakh truck operators in the country transacting on their platform in Fiscal 2024, which comprises 27.52% of India’s truck operators. Using their platform, their customers (primarily comprising truck operators) digitally manage payments for tolling and fuelling, monitor drivers and fleets using telematics, find loads on their marketplace and get access to financing for the purchase of used vehicles.
Expert’s take on IPO
“At the upper price band, the company is valuing at a market cap/sales of 16.2x on FY24 basis with a market cap of Rs 4,817.8 crore post issue of equity shares. On the valuation front, we believe that the company is fairly priced. Therefore, we recommend a “SUBSCRIBE – Long term” rating to the IPO,” said Anand Rathi Research in an IPO note.
» Read More
