Zinka Logistics Solution IPO: The initial public offering (IPO) of digital truck driving platform Zinka Logistics Solution Limited received a lukewarm response on its first day of issuance and was not fully subscribed by investors. The Flipkart-backed public issue reached India’s primary market, opening for a three-day subscription period on Wednesday, November 13 and closing on Monday, November 18.
Zinka Logistics Solution IPO, or BlackBuck IPO, aims to increase revenues ₹1,114.72 crore through the public issue. It has reserved not less than 75 percent of the shares in the public issue for qualified institutional buyers (QIB), not more than 15 percent for non-institutional institutional investors (NII), and not more than 10 percent of the offering is reserved for private investors.
Zinka Logistics Solution IPO subscription status
On the first day of registration, the Zinka Logistics Solution IPO was 24 percent booked at the end of the session. The portion reserved for private investors was the highest of the three groups of investors, at 51 percent. The portion reserved for QIBs was booked at 26 percent and NIIs offered 0.2 percent. The section reserved for employees was booked 3.22 times on the first day. According to BSE data, the IPO received 54,08,100 share applications as against 2,25,67,270 shares offered on Wednesday.
Zinka Logistics Solution IPO details
BlackBuck IPO is a book publication by ₹1,114.72 crore. The motherboard issue is a combination of a fresh issue of a total of 2.01 crore shares ₹550.00 crore and an offer for sale (OFS) of 2.07 crore shares together ₹564.72 crore by the existing shareholders and promoters. The OFS is valued at ₹564.72 crore at the highest price.
For the public issue, the IPO price range of Zinka Logistics Solution Limited has been set at ₹259 to ₹273 per equity share, of face value of Re 1 each. The promoters of the company are Rajesh Kumar Naidu Yabaji, Chanakya Hridaya and Ramasubramanian Balasubramaniam.
