Zinka Logistics IPO Details

8 Nov 2024 , 02:36 PM

On Wednesday, November 13, Zinka Logistics Solutions’ (Blackbuck) initial public offering (IPO) will be up for bid. Investors can apply for a minimum of 54 equity shares and their multiples after that. The company is offering its shares for between Rs 259 and Rs 273 each. The issue’s three-day bidding ends on Monday, November 18.

Zinka Logistics Solution is a digital platform for truck drivers that was established in April 2015. The BlackBuck App is a platform that enables truck operators to effectively accomplish their objectives by providing telematics, payments, a load marketplace, and vehicle financing options.

A total of Rs 550 crore worth of new shares will be sold as part of Zinka Logistics Solution’s first public offering (IPO), while 2,06,85,800 equity shares worth Rs 564.7 crore will be sold by current shareholders and promoters. Through an IPO, the company will raise a total of Rs 1,114.7 crore at the upper end of the pricing range. The issue’s anchor book will open on Tuesday, November 12.

Funding sales and marketing expenses, investments in Blackbuck Finserve, its NBFC subsidiary, capital base expansion to meet future capital needs, product development expenses, and other corporate purposes will all be funded with the issue’s net proceeds.

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