Zinka Logistics Solutions IPO Allotment: The initial public offering (IPO) of Zinka Logistics Solutions Ltd closed with decent subscription. As the bidding period has ended, applicants watch out for Zinka Logistics Solutions IPO allotment, which is expected to be finalised today.
Zinka Logistics Solutions IPO allotment date is likely today, November 19, and the company is expected to finalise the basis of share allotment soon. The public offer was open for subscription from November 13 to 18. Zinka Logistics Solutions IPO listing date is expected to be November 21.
The company will credit the equity shares into the demat accounts of eligible investors on November 20 and initiate refunds to unsuccessful bidders on the same day.
Investors can check Zinka Logistics Solutions IPO allotment status online through the websites of BSE and NSE and also on the official portal of the IPO registrar. Kfin Technologies is the Zinka Logistics Solutions IPO registrar.
Zinka Logistics Solutions IPO allotment status online check can be done by following a few simple steps mentioned below.
Step 1] Visit BSE website on this link - https://www.bseindia.com/investors/appli_check.aspx
Step 2] Select ‘Equity’ in the Issue Type
Step 3] Choose ‘Zinka Logistics Solutions Limited’ in the Issue Name dropdown menu
Step 4] Enter either Application No. or PAN
Step 5] Verify by ticking on ‘I am not robot’ and click on ‘Search’
Your Zinka Logistics Solutions IPO allotment status will be displayed on the screen.
Step 1] Visit IPO registrar’s website on this link - https://kosmic.kfintech.com/ipostatus/
Step 2] Choose ‘Zinka Logistics Solutions Limited’ in the Select IPO dropdown menu
Step 3] Select either Application No, Demat Account, or PAN
Step 4] Enter the details as per the option selected
Step 5] Enter the Captcha code and click on Submit
Your Zinka Logistics Solutions IPO allotment status will be displayed on the screen.
Zinka Logistics Solutions shares are showing a muted trend in the unlisted market as seen in the grey market premium (GMP today. According to stock market observers, Zinka Logistics Solutions IPO GMP today is ₹0. This means that in the grey market, Zinka Logistics Solutions shares are trading at par with their issue price, which is at no premium or discount to the IPO price.
Considering the Zinka Logistics Solutions IPO GMP today, the estimated listing price would be ₹273 apiece, which is equal to the issue price of ₹273 per share.
The bidding for Zinka Logistics Solutions IPO began on Wednesday, November 13, and ended on Monday, November 18. The Zinka Logistics Solutions IPO allotment date is likely today, November 19. The equity shares of Zinka Logistics Solutions will likely be listed on November 21, on both the stock exchanges, BSE and NSE.
Zinka Logistics Solutions IPO price band was set at ₹259 to ₹273 per share. The company raised ₹1,114.72 crore from the book-built issue at the upper-end of the price band. The IPO comprised a combination of fresh issue of 2.01 crore equity shares worth ₹550 crore and an offer-for-sale (OFS) of 2.07 crore shares amounting to ₹564.72 crore.
The company plans to utilse the net issue proceeds for funding towards sales and marketing costs, investment in its NBFC subsidiary, funding of expenditure about product development and general corporate purposes.
Zinka Logistics Solutions IPO has been subscribed 1.86 times in total as the issue received bids for 4.19 crore equity shares as against 2.25 crore shares on the offer, data on NSE showed. The public issue was subscribed 1.66 times in the retail category, 2.76 times in the Qualified Institutional Buyers (QIBs) category, and 0.24 times in the Non Institutional Investors (NII) category.
Axis Capital, Morgan Stanley India Company, JM Financial and IIFL Securities are the book running lead managers of the Zinka Logistics Solutions IPO, while Kfin Technologies is the IPO registrar.
