Zinka Logistics Solutions IPO subscribed 22%

13 Nov 2024 , 02:21 PM

Subscriptions for Zinka Logistics’ initial public offering (IPO), which runs the BlackBuck platform, are now available. Bidding on the issue, which consists of an offer for sale (OFS) of 2.06 crore shares and a fresh equity sale of Rs 550 crore, will be open till November 18.

The company raised Rs 500 crore from anchor investors prior to the issue opening, with participation from notable investors such as Nomura, Hornbill Orchid India Fund, Steadview Capital Mauritius, TIMF Holdings, and Florida Retirement System.

As of 2:15 pm, Employees led the charge oversubscribing their portion 2.67 times followed Retail investors who subscribed 40%. The QIB portion was subscribed 26% while NII portion was subscribed just 1%.

The Zinka Logistics initial public offering (IPO) will close on November 18 after opening for subscriptions on November 13. On November 19, the IPO allocation will be finalised, and on November 21, the listing is planned.

Investors can bid for 54 shares in a single lot and then in multiples of that price, which Zinka Logistics has set at Rs 259-273 per share.

Zinka Logistics is committed to revolutionising the Indian trucking sector by giving truck drivers the digital tools they need to run their companies and boost their profits. The business’s cutting-edge BlackBuck app functions as a complete platform, offering options for load management, telemetry, payments, and auto financing.

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