By Sapna 
Zinka Logistics Solutions Ltd., known for its BlackBuck platform—a digital solution for truck operators in India—recently conducted its IPO (Initial Public Offering). The IPO received considerable attention due to the company’s growing presence in logistics technology. Here are the highlights:
IPO Details
- IPO Size: ₹1,114.72 crore, comprising a fresh issue of ₹550 crore and an offer for sale worth ₹564.72 crore.
- Price Band: ₹259 to ₹273 per share.
- Lot Size: Investors could bid for a minimum of 54 shares, amounting to ₹14,742 at the lower price band.
- Subscription Status: The IPO was subscribed 1.87 times overall, with strong demand from Qualified Institutional Buyers (QIBs) at 2.72 times. Retail investor participation was at 1.70 times.
Listing Information
- Opening Date: November 13, 2024.
- Closing Date: November 18, 2024.
- Allotment Finalization: November 19, 2024.
- Listing Date: Scheduled for November 22, 2024, on BSE and NSE.
Company Background
Zinka Logistics operates BlackBuck, a leading app for truck operators, providing services like freight management, telematics, and vehicle financing. The company has scaled significantly, boasting over 27.52% of Indian truck operators on its platform as of FY 2024. Their Gross Transaction Value (GTV) in payments reached ₹173,961.93 million.
IPO Objectives
The proceeds will be used for:
- Expanding marketing and sales efforts.
- Enhancing product development.
- Supporting its NBFC subsidiary, BlackBuck Finserve Pvt Ltd.
- General corporate purposes.
Anchor Investors and Financials
Anchor investors secured ₹501.33 crore worth of shares. Zinka has demonstrated robust growth, with a 62.24% increase in revenue and a 33.24% rise in profit after tax in FY 2024 compared to FY 2023.
Conclusion
The Zinka Logistics IPO is a significant step for the company, reflecting its dominance in India’s logistics technology landscape. Its strong financials and innovative platform make it a company to watch in the logistics sector.