2 weeks Ago
Zinka Logistics IPO , which opened for subscription on November 13, received steady response on the first day of the bidding process. Investors still have two more days to bid for the IPO, which closes on November 18. The company plans to raise just over Rs 1100 crore through the public offering, which is being offered through a fresh equity sale of Rs 550 crore and an offer for sale (OFS) of 2.
06 crore shares. Ahead of the issue opening, the company raised Rs 500 crore from anchor investors, where Nomura, Hornbill Orchid India Fund, Steadview Capital Mauritius, TIMF Holdings, Florida Retirement System among others participated. Zinka Logistics IPO: Subscription status The IPO of Zinka Logistics was subscribed 24% on the first day of the bidding process.
Most of the demand was driven by retail investors with a subscription of 50%, followed by QIB investors at 26%. There were negligible bids from the non-institutional investors. Stock Trading Options Scalping Made Easy By - Sivakumar Jayachandran, Ace Scalper View Program Stock Trading Candlesticks Made Easy: Candlestick Pattern Course By - elearnmarkets, Financial Education by StockEdge View Program Stock Trading Ichimoku Trading Unlocked: Expert Analysis and Strategy By - Dinesh Nagpal, Full Time Trader, Ichimoku & Trading Psychology Expert View Program Stock Trading Mastering Options Selling: Advanced Strategies for Success By - CA Manish Singh, Chartered Accountant, Professional Equity and Derivative Trader View Program Stock Trading Renko Chart Patterns Made Easy By - Kaushik Akiwatkar, Derivative Trader and Investor View Program Stock Trading RSI Made Easy: RSI Trading Course By - Souradeep Dey, Equity and Commodity Trader, Trainer View Program Stock Trading Markets 102: Mastering Sentiment Indicators for Swing and Positional Trading By - Rohit Srivastava, Founder- Indiacharts.
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The allotment for the IPO will be done on November 19 and the listing is scheduled for November 21. India's Rs 10,000 cr-plus IPOs faced losses even after 1 month and a year. Will Swiggy buck the trend? Zinka Logistics IPO: GMP today The GMP of Zinka Logistics is currently Rs 0 in the unlisted markets, which indicates a premium of 0% over the issue price.
Zinka Logistics IPO: Price band Zinka Logistics has fixed a price band of Rs 259-273 per share, where investors can bid for 54 shares in one lot and in multiples thereafter. Zinka Logistics IPO review Analysts advised investors to subscribe to the issue given BlackBuck’s strong market position, scalable asset-light model, and high growth potential "The IPO is recommended as a favorable investment in the logistics tech sector . However, the company should be monitored closely for regulatory changes and competitive pressures that could impact its profitability and market share," said Canara Bank Securities.
"We assign Subscribe rating to this IPO as the company has India’s largest digital platform for truck operators and omnichannel distribution network driving sales. Also, it is available at reasonable valuation as compared to its peers," said Marwadi Financial Services. About Zinka Logistics 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 innovative BlackBuck app serves as a comprehensive platform, providing solutions for payments, telematics, load management, and vehicle financing. The BlackBuck app, central to Zinka Logistics' offerings, empowers truck operators to manage various aspects of their operations. Through the app, operators can handle payments for tolling and fueling, monitor drivers and fleets using telematics, find loads on the marketplace, and access financing for purchasing used vehicles.
In FY24, the app saw robust engagement, with monthly active truck operators using it for over 16.18 days per month and spending an average of 39.56 minutes daily on the platform.
Zinka Logistics processed a gross transaction value (GTV) of Rs 17,396.19 crore in payments for FY24. The payments platform addresses significant expenses for truck operators, such as tolls and fuel.
The company’s consolidated revenue from continuing operations increased by 69.01% to Rs 296.92 crore in FY24 from Rs 175.
68 crore in FY23, primarily due to an increase in its average monthly transacting truck operators, which led to an increase in its commission income, subscription fees, and service fees. Axis Capital, Morgan Stanley India, JM Financial , and IIFL Securities are the book-running lead managers and KFin Technologies is the registrar of the offer. ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own.
These do not represent the views of Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel ).
