Zinka Logistics shares commenced trading on the NSE (National Stock Exchange) with a modest 3% premium on their debut day on Friday, November 22. Zinka Logistics’ (better known as BlackBuck) shares made their market debut with a premium of 2.89% on the NSE at Rs 280.90 per share and 2.2% on the BSE (Bombay Stock Exchange) at Rs 279.05 apiece.
The stock’s debut price exceeded grey market expectations, which had suggested a flat listing. The company’s initial public offering (IPO) garnered a decent 1.87 times subscription.
Zinka Logistics IPO: All Details
- Zinka Logistics Solutions Ltd’s IPO was available for subscription from November 13 to November 18.
- The company allotted the shares for the IPO on November 20.
- The company listed on the Indian Bourses on November 22.
- It raised Rs 1,114.72 crore through its IPO, which was priced between Rs 259 and Rs 273 per share.
- IPO consisted of a fresh issue of 2.01 crore equity shares valued at Rs 550 crore and an offer-for-sale (OFS) of 2.07 crore shares worth Rs 564.72 crore.
- The IPO garnered a total subscription of 1.86 times, with investors bidding for over 4.19 crore shares against the 2.25 crore shares on offer.
- Axis Capital, Morgan Stanley India Company, JM Financial and IIFL Securities are the book running lead managers, whereas Kfin Technologies is the IPO registrar.
- The company will use the IPO funds for sales and marketing, investing in its NBFC subsidiary, product development, and general business purposes.
About
As India’s largest digital platform for truck operators, Zinka Logistics Solutions Ltd had 963,345 truck operators using its platform in FY24, representing 27.52% of the country’s total truck operators. Between FY22 and FY24, Zinka Logistics Solutions Ltd’s total income expanded at a compound annual growth rate (CAGR) of around 42.38%.
ALSO READ: HURRY UP! NTPC Green Energy IPO Closes Today: GMP, Subscription Status – Should You Invest?
