Zinka Logistics Solution IPO listed at Rs 280.90 on the National Stock Exchange, a premium of 2.9% to the issue price.
Zinka Logistics IPO GMP
The stocks of Zinka Logistics were trading at a price of Rs 273 in the grey market. The IPO was neither attracting a premium nor a discount in the grey market, which indicated 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 initial public offering commenced on November 18 and garnered Rs 1,114.72 crore from investors. The initial public offering concluded on November 18. The company issued 4.08 crore shares through a mix of new shares and an offer for sale. The IPO price band was set between Rs 259 and Rs 273 for each equity share.
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Zinka Logistics IPO allotment
The allotment of shares for the BlackBuck IPO was completed on November 19, and the shares were credited into the D’mat accounts on November 20, along with the refunds. 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.
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
“If we attribute annualized FY25 earnings to post-IPO fully diluted equity base, then the asking price is at a P/E of 37.19and based on FY24 earnings,
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