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Unlisted shares of Zinka Logistics Solutions Ltd are trading at Rs 273 each in the grey market, which coincides as its IPO concern rate of Rs 273. The absolutely no GMP suggests a level or perhaps adverse listing for the IPO.
Zinka Logistics Solutions IPO.
Zinka Logistics Solutions IPO Listing Date: Zinka Logistics Solutions Ltd (or BlackBuck Ltd), which was set up to be noted on stock market BSE and NSE on Thursday, has actually delayed its listing toFriday As per standards, a business is mandated to note its shares within 3 days of the IPO closing day (T +3). The IPO listing typically happens at 10:00 am.
The IPO’s GMP remains to stay absolutely no for the previous 10 days. According to market viewers, unpublished shares of Zinka Logistics Solutions Ltd are trading at Rs 273 each in the grey market, which coincides as its IPO concern rate of Rs 273.
The absolutely no GMP suggests a level or perhaps adverse listing for the IPO.
The GMP is based upon market views and maintains transforming. ‘Grey market premium’ suggests capitalists’ preparedness to pay greater than the concern rate.
The going public of electronic system for vehicle drivers Zinka Logistics Solutions Ltd was opened up for registration in between November 13 and November 18. So, based on regulations, the IPO requirement listing by November 22.
The Rs 1,100-crore IPO obtained a 1.87 times registration amassing proposals for 4,19,43,258 shares as versus the 2,24,70,786 shares available.
Zinka Logistics Solutions IPO: What Should Investors Do Post Listing?
Shivani Nyati, head of riches at Swastika Investmart Ltd, stated, “Zinka Logistics, a leading electronic system for vehicle drivers, is preparing for its securities market launching. While the IPO has actually obtained a suitable registration of 1.87 times, the existing grey market costs (GMP) of 0% suggests a capacity for a level or perhaps adverse listing.”
The company’s strong network effects and position as a leading platform in the logistics industry are positive factors. However, financial challenges, including ongoing losses and negative cash flow, raise concerns. Additionally, the company’s legal challenges and recent employee layoffs indicate operational difficulties. The low promoter holding further adds to investor skepticism, she added.
“Given the company’s financial performance, operational challenges, and the lack of a clear valuation metric, investors are advised to exercise caution,” Nyati stated.
Zinka Logistics Solutions IPO: More Details
Zinka Logistics Solutions on Tuesday mobilised over Rs 501 crore from support capitalists, a day prior to its preliminary share-sale opening for public registration.
The IPO is a mix of a fresh concern of shares worth Rs 550 crore and a deal of sale (OFS) of approximately 2.06 crore shares. The OFS by marketers and capitalist marketing investors is valued at Rs 565 crore at the top end of the rate band.
A discount rate of Rs 25 per equity share is being provided to qualified workers bidding process in the worker booking part.
Proceeds from the fresh issuance for Rs 200 crore will certainly be made use of offer for sale and advertising efforts; Rs 140 crore for financial investment in Blackbuck Finserve for funding the sustaining the resources base to fulfill future resources demands; Rs 75 crore for financing of expense in regard to item advancement, and a section will certainly be made use of for basic company objectives.
Zinka Logistics is committed to changing the trucking sector in India by electronically encouraging vehicle drivers to handle their services and enhance their profits. The business’s BlackBuck application works as an extensive system, giving services for repayments, telematics, lots administration and car funding.
The Bengaluru- based company refined a Gross Transaction Value (GTV) of Rs 5,356.20 crore and Rs 17,396.19 crore in repayments in the 3 months finished June 30, 2024, and monetary 2024, specifically. The repayments system addresses substantial expenditures for vehicle drivers, such as tolls and gas.
The business companions with FASTag financial institutions and numerous oil advertising business (OMCs) to supply effective and safe tolling and sustaining services, creating profits with compensation margins based upon purchase worths.
For the 3 months finished June 2024, the business’s profits from proceeding procedures stood at Rs 92.17 crore with an earnings after tax obligation of Rs 28.67 crore.
Axis Capital, Morgan Stanley India Company, JM Financial and IIFL Capital Services are the book-running lead supervisors to the concern.
