Zinka Logistics IPO GMP Today

Zinka Logistics IPO GMP Today the subscription window is open until November 18. The IPO has a fresh issue of shares of ₹550 crore in value and an offer-for-sale (OFS) of up to 2.06 crore shares, totaling ₹564.72 crore at the upper end of the price band. With a price range of ₹259-273 per share, the overall IPO size reaches ₹1,114.72 crore. The company’s shares will be listed on the BSE and NSE on November 22.

Table of Contents

Description

Learn about transforming India’s trucking with digital tools and services with investments in Zinka Logistics IPO GMP Today.

Key Facts

Key promoters of Zinka Logistics IPO include Rajesh Kumar Naidu Yabaji, Chanakya Hridaya, and Ramasubramanian Balasubramaniam.
The OFS includes shares from investors such as Quickroutes International (formerly Flipkart Logistics), Accel India, International Finance Corporation, Peak XV Partners, and Sands Capital.
The IPO is managed by a consortium of book-running lead managers, including Axis Capital, Morgan Stanley India, JM Financial, and IIFL Securities, with KFin Technologies as the registrar for the offer.

Key Details about Zinka Logistics IPO GMP Today

Grey Market Premium (GMP)

Today, Zinka Logistics’ IPO shares are attracting a grey market premium (GMP) of around ₹24-28, which is an 8.8% premium over the upper price band. This GMP has recently seen an increase despite broader market weakness, reflecting positive demand in the grey market as of November 12.

Platform Reach

BlackBuck, Zinka’s app, connected 963,345 truck operators in FY24—27.52% of India’s truck operators. Services include payments, telematics, freight matching, and vehicle financing.

Revenue

FY24 revenue reached ₹296.92 crore, a 69% increase year-over-year, driven by rising truck operator transactions and fees from telematics and payment services.

A Look at Zinka Logistics Profitability

Net loss narrowed to ₹167 crores in FY24 from ₹236.8 crores, and operating loss (EBITDA) dropped from ₹232.5 crores to ₹158.4 crores.

IPO Allocation

The IPO reserves 75% of shares for qualified institutional buyers (QIBs), 15% for non-institutional investors (NIIs), and 10% for retail investors. A specific reservation of 26,000 shares is made for employees. The minimum bid size is 54 shares (₹14,742 for retail), with employee shares offered at a ₹25 discount.

Anchor Investment

Zinka successfully raised ₹501.33 crore from anchor investors on November 12, the day before Zinka Logistics IPO public offering. Among these are prominent investors such as Nomura, Steadview Capital Mauritius, TIMF Holdings, BNP Paribas Funds, and domestic entities like SBI Mutual Fund, Invesco India, and ICICI Prudential Life Insurance. In total, 1.83 crore equity shares were allocated to anchor investors at ₹273 per share, with domestic mutual funds acquiring 61.39 lakh shares via six schemes.

Use of Proceeds

₹200 crore will fund sales/marketing, ₹140 crore will boost the NBFC unit Blackbuck Finserve, and ₹75 crore will be allocated for product development.

Zinka Logistics Shareholding and Listing

Promoters hold a 34.32% stake pre-IPO, with the remainder held by public investors, including Accel and Sands Capital. The allotment is scheduled for November 19, with shares to be credited by November 21 and listed on November 22.