Zinka Logistics IPO Day 1: Examine GMP, Value Band, Subscription, Key Dates, Assessment,
Round 1:15 pm, the problem had attracted 46,70,514 bids out of the whole 2,25,67,270 obtainable for subscription. The best demand was pushed by the retail traders subscribing to the problem by 35%, adopted by the certified institutional patrons (QIBs)
with a subscription of 26%.
In the meantime, the non-institutional traders (NIIs) had subscribed to the problem by merely 1%.
The certified institutional patrons (QIBs) are but to subscribe to the problem.The problem, which is a mix of a recent fairness sale of Rs 550 crore and a proposal on the market (OFS) of two.06 crore shares, might be obtainable for bidding until November 18.
Forward of the problem opening, the corporate bagged Rs 500 crore from anchor traders the place marquee traders together with Nomura, Hornbill Orchid India Fund, Steadview Capital Mauritius, TIMF Holdings, and Florida Retirement System amongst others participated.
Zinka Logistics IPO: Allotment and Itemizing Date
The allotment for the IPO might be accomplished on November 19 and the itemizing is scheduled for November 21.
Zinka Logistics IPO: GMP as we speak
The GMP of Zinka Logistics is at the moment Rs 0 within the unlisted markets, which signifies a premium of 0% over the problem worth.
Zinka Logistics IPO: Value band
Zinka Logistics has mounted a worth band of Rs 259-273 per share, the place traders can bid for 54 shares in a single lot and multiples thereafter.
Additionally Learn: NTPC Inexperienced fixes Rs 102-108 worth band for Rs 10,000 crore IPO. Examine GMP, different particulars
Zinka Logistics IPO evaluation
Analysts suggested traders to subscribe to the problem given BlackBuck’s sturdy market place, scalable asset-light mannequin, and excessive progress potential
“The IPO is really useful as a good funding within the logistics tech sector. Nevertheless, the corporate needs to be monitored intently for regulatory modifications and aggressive pressures that would impression its profitability and market share,” mentioned Canara Financial institution Securities.
“We assign a Subscribe score to this IPO as the corporate has India’s largest digital platform for truck operators and omnichannel distribution community driving gross sales. Additionally, it’s obtainable at an inexpensive valuation as in comparison with its friends,” mentioned Marwadi Monetary Providers.
About Zinka Logistics
Zinka Logistics is devoted to reworking the trucking business in India by digitally empowering truck operators to handle their companies and improve their earnings. The corporate’s progressive BlackBuck app serves as a complete platform, offering options for funds, telematics, load administration, and automobile financing.
The BlackBuck app, central to Zinka Logistics’ choices, empowers truck operators to handle numerous points of their operations. By the app, operators can deal with funds for tolling and fueling, monitor drivers and fleets utilizing telematics, discover hundreds on {the marketplace}, and entry financing for buying used autos.
In FY24, the app noticed strong engagement, with month-to-month lively truck operators utilizing it for over 16.18 days per 30 days and spending a median of 39.56 minutes each day on the platform.
Zinka Logistics processed a gross transaction worth (GTV) of Rs 17,396.19 crore in funds for FY24. The funds platform addresses important bills for truck operators, resembling tolls and gas.
The corporate’s consolidated income from persevering with operations elevated by 69.01% to Rs 296.92 crore in FY24 from Rs 175.68 crore in FY23, primarily resulting from a rise in its common month-to-month transacting truck operators, which led to a rise in its fee revenue, subscription charges, and repair charges.
Axis Capital, Morgan Stanley India, JM Monetary, and IIFL Securities are the book-running lead managers and KFin Applied sciences is the registrar of the supply.
(Disclaimer: Suggestions, solutions, views and opinions given by the consultants are their very own. These don’t signify the views of Financial Occasions)
