Zinka Logistics listed at 2% premium on D-Street

22 Nov 2024 , 10:09 AM

The logistics solution provider, Zinka Logistics, also known as BlackBuck listed at 2% premium on the indices. The shares get listed at ₹280.90 on NSE, at a premium of 2.89% above the issue price of ₹273. On BSE, the shares get listed at 2.22% premium.

The IPO of Zinka Logistics Solutions received a lukewarm response, with an overall subscription of 1.86 times. Among the investor categories, Qualified Institutional Buyers (QIBs) led the bidding with a subscription of 2.76 times. The retail investor segment saw 1.65 times subscription, while the Non-Institutional Investors (NIIs) subscribed to just 24% of their allocated portion.

Established in 2015, Zinka Logistics operates the BlackBuck App, a digital platform providing services to truck operators, including payments, telematics, a load marketplace, and vehicle financing.

The IPO, which ran from November 13-18, was priced in the range of₹259-273 per share with a lot size of 54 shares. The company raised₹1,114.72 crore, comprising₹500 crore from a fresh issue and₹564.72 crore through an offer-for-sale.