December, 26 2024 Thursday 16:14 Hrs
  • SENSEX :   78,472.48

  • Top commodity trading and broking companies in India-0.39( 0.00%) 26-Dec-2024
top-arrow-market
Sensex 78472.48 -0.39  (0.00) 26-Dec-2024
Previous Day Close
78472.87
Today's High/Low
High Low
  •  
  •  
78898.37 78173.38

IPO News

Zinka Logistics Solutions (BlackBuck) IPO ends with 1.86x subscription
19-Nov-24   17:19 Hrs IST

The initial public offer (IPO) of Zinka Logistics Solutions (BlackBuck) received bids for 4,19,57,676 shares as against 2,25,67,270 shares on offer. The issue was subscribed 1.86 times.

The Qualified Institutional Buyers (QIBs) category was subscribed 2.76 times.The Retail Individual Investors (RIIs) category was subscribed 1.66 times. The Non-Institutional Investors (NIIs) category was subscribed 0.24 times.

The issue opened for bidding on 13 November 2024 and it closed on 18 November 2024. The price band of the IPO was fixed between Rs 259 to Rs 273 per share.

The IPO comprised a fresh issue of equity shares worth up to Rs 550 crore and an offer for sale of 2,06,85,800 equity shares, aggregating up to Rs 564.72 crore.

The objectives of the fresh issue include Rs 200 crore for sales and marketing costs, Rs 140 crore for investment in Blackbuck Finserve to meet its future capital requirements, Rs 75 crore for funding of expenditure related to product development and the remaining amount for general corporate purposes.

The promoters and promoter group hold an aggregate of 34.32% of the pre-offer issued and paid-up equity share capital. Their post-IPO shareholding is expected to be around 27.84%.

Ahead of the IPO, Zinka Logistics Solutions on Tuesday, 12 November 2024, raised Rs 501.33 crore from anchor investors. The board allotted 1.83 crore shares at Rs 273 each to 26 anchor investors.

Zinka Logistics Solution offers a digital platform, the BlackBuck app, for truck operators. Truck operators use the BlackBuck app for their diverse business needs. It offers payments, telematics, a freight marketplace, and vehicle financing services to help truck operators manage their business and grow their income.

In the fiscal year 2024, 963,345 truck operators in the country conducted their business through the platform, representing 27.52% of all Indian truck operators. Truck operators manage their truck-level tolling and fueling operations through the BlackBuck App.

The firm reported a net profit of Rs 32.38 crore and net sales of Rs 92.17 crore for the three months ended on 30 June 2024.

Powered by Capital Market - Live News

Top
Attention Investor:
Prevent unauthorised transactions in your account Update your mobile numbers/email IDs with your stock brokers/Depository Participant.     KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, ,Mutual ).    No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account.