Zinka Logistics IPO: Price band, latest GMP, 10 things to know before public issue opens

Zinka Logistics Solution Limited's initial public offering (IPO) will open for public bidding on Wednesday, November 13, and close on Monday, November 18. The company operates the BlackBuck app, which caters to truck operators. It gives them the platform to offer payments, telematics, a freight marketplace, and vehicle financing services to help them achieve their goals efficiently. 

The company has set the price band for the public issue in the range of ₹259 to ₹273 per share, with a lot size of 54 shares per lot. The mainboard IPO is expected to be listed in the domestic stock exchanges on Thursday, November 21.

The digital payments platform provider was founded in 2015. It offers a digital platform, the BlackBuck app, for truck operators. In the financial year 2023-24, 963,345 truck operators in the country conducted their business through the platform, representing 27.52% of all Indian truck operators.

Zinka Logistics Solution IPO — 10 things to know as an investor

1. Zinka Logistics Solution IPO Issue Size: The Bengaluru-based digital platform provider aims to raise about ₹1,114.72 crore through a new issue amounting to ₹550 crore and an offer-for-sale valued at nearly ₹564.72 crore of up to 2.07 crore shares by current shareholders and promoters.

2. Zinka Logistics Solution IPO Dates: The initial public offering will open for public subscription on Wednesday, November 13, and close on Monday, November 18. 

3. Zinka Logistics Solution IPO Price Band: The payments provider has set the IPO's price band in the range of ₹259 to ₹273 per share, with a lot size of 54 shares per lot.

4. Zinka Logistics Solution IPO Listing Date: The mainboard IPO is expected to be listed on the NSE and BSE indices on Thursday, November 21.

5. Zinka Logistics Solution IPO Anchor Round: The company has set Tuesday, November 12, as the anchor round date for the public issue. 

6. Zinka Logistics Solution IPO Sellers: The public issue is witnessing promoters and investors seeking their stake in the company. The three promoters selling shareholding are Rajesh Kumar Naidu Yabaji, Chanakya Hridaya, and Ramasubramanian Balasubramaniam.

Quickroutes International Private Limited, Accel India IV (Mauritius) Limited, International Finance Corporation, Internet Fund III Pte Ltd, Peak XV Partners Investments VI, VEF AB, and Sands Capital Private Growth II Limited are the investors selling their stake in the company.

7. Zinka Logistics Solution IPO Reservation: The company has set aside not less than 75 per cent of the shares for Qualified Institutional Buyers (QIB), not more than 15 per cent for Non-Institutional Investors (NII), and not more than 10 per cent for the retail investors. 

8. Zinka Logistics Solution IPO Proceeds: The money raised from the new issuance of shares will be used to cover sales and marketing expenses, invest in Blackbuck Finserve to enhance its capital base for future needs, support costs associated with product development, and other general corporate activities. 

9. Zinka Logistics Solution IPO GMP: As of November 10, the grey market premium (GMP) is at ₹24 per share. At the upper price band limit of ₹273, the public offer is expected to be listed at ₹297, with a premium of 8.79 per cent.

Grey Market Premium (GMP) is the investor's willingness to pay more for a public issue.

10. Zinka Logistics Solution IPO's Merchant Banker and Registrar: Axis Capital Limited, Morgan Stanley India Company Pvt Ltd, JM Financial Limited and IIFL Securities Ltd are the book-running managers for the public issue, while Kfin Technologies Limited is the registrar.