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Zinka Logistics Solutions IPO Listing: The shares were detailed at Rs 279.05 each on the BSE, which is a 2.21 percent costs of the IPO problem cost of Rs 273.
Zinka Logistics Solutions IPO Listing.
Zinka Logistics Solutions IPO Listing: Zinka Logistics Solutions Ltd (or BlackBuck Ltd) got on Friday saw a favorable listing on significant supply indices BSE and NSE. The shares were detailed at Rs 279.05 each on the BSE, which is a 2.21 percent costs of the IPO problem cost of Rs 273. In first unstable profession, the shares were trading greater by 3.83 percent on the BSE since 10:04 am.
The IPO was initially detailed on Thursday yet was later on delayed its listing toFriday As per standards, a firm is mandated to note its shares within 3 days of the IPO closing day (T +3).
The listing gain follows the GMP that had actually suggested a level listing or adverse listing for the IPO.
The going public of electronic system for vehicle drivers Zinka Logistics Solutions Ltd was opened up for membership in between November 13 and November 18. The Rs 1,100-crore IPO obtained a 1.87 times membership amassing quotes for 4,19,43,258 shares as versus the 2,24,70,786 shares available.
Zinka Logistics Solutions IPO: What Should Investors Do?
Shivani Nyati, head of wide range at Swastika Investmart Ltd, claimed, “The firm’s solid network impacts and setting as a leading system in the logistics market declare variables. However, economic obstacles, consisting of continuous losses and adverse money circulation, increase worries. Additionally, the firm’s lawful obstacles and current staff member discharges suggest functional problems. The reduced marketer holding additional includes in financier uncertainty.”
Given the company’s financial performance, operational challenges, and the lack of a clear valuation metric, investors are advised to exercise caution, Nyati added.
Zinka Logistics Solutions IPO: More Details
Zinka Logistics Solutions had mobilised over Rs 501 crore from anchor investors, a day before its initial share-sale opening for public subscription.
The IPO is a combination of a fresh issue of shares worth Rs 550 crore and an offer of sale (OFS) of up to 2.06 crore shares. The OFS by promoters and investor selling shareholders is valued at Rs 565 crore at the upper end of the price band.
A discount of Rs 25 per equity share was offered to eligible employees bidding in the employee reservation portion.
Proceeds from the fresh issuance to the extent of Rs 200 crore will be used for sales and marketing initiatives; Rs 140 crore for investment in Blackbuck Finserve for financing the supporting the capital base to meet future capital requirements; Rs 75 crore for funding of expenditure in relation to product development, and a portion will be used for general corporate purposes.
Zinka Logistics is dedicated to transforming the trucking industry in India by digitally empowering truck operators to manage their businesses and increase their earnings. The company’s BlackBuck app serves as a comprehensive platform, providing solutions for payments, telematics, load management and vehicle financing.
The Bengaluru-based firm processed a Gross Transaction Value (GTV) of Rs 5,356.20 crore and Rs 17,396.19 crore in payments in the three months ended June 30, 2024, and fiscal 2024, respectively. The payments platform addresses significant expenses for truck operators, such as tolls and fuel.
The company partners with FASTag banks and multiple oil marketing companies (OMCs) to offer efficient and secure tolling and fuelling solutions, generating revenue through commission margins based on transaction values.
For the three months ended June 2024, the company’s revenue from continuing operations stood at Rs 92.17 crore with a profit after tax of Rs 28.67 crore.
Axis Capital, Morgan Stanley India Company, JM Financial and IIFL Capital Services are the book-running lead managers to the issue.
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