Zinka Logistics Solutions IPO Subscription Details on Day 1

13 Nov 2024 , 12:22 PM

The initial public offering (IPO) of Zinka Logistics Solutions Limited, owner of the BlackBuck App, opened for bidding today and will close on November 18, 2024.

Zinka Logistics has set an IPO price band ranging from ₹259 to ₹273 per equity share, offering a mix of fresh shares and offers for sale (OFS). The company aims to raise ₹1,114.72 crore through the IPO, with ₹550 crore from fresh share issuance and the remaining ₹564.72 crore through the OFS route.

At the time of writing on the first day at 12:17 pm, the IPO saw a subscription rate of 0.06 times, with the retail segment subscribed 0.30 times and the NII segment 0.01 times.

Interested investors can apply in lots, with each lot consisting of 54 shares. The IPO allotment date is likely set for November 19, 2024, with KFin Technologies appointed as the official registrar.

Lead Managers for the IPO include Axis Capital, Morgan Stanley India, JM Financial, and IIFL Securities. Listing of shares on the BSE and NSE is anticipated for November 21, 2024.