Zinka Logistics Solutions Limited public issue opened for subscription today (November 13) and is set to close on Novemner 15 and is set to close on November 18.
On the first day of bidding, the IPO was subscribed 24 per cent. The issue saw a total of 54,12,852 shares being bid, compared to the 2,25,67,270 equity shares on offer, according to stock exchange data.
The price band for this public offering is set between Rs 259 and Rs 273 per share.
Breakdown of the IPO
The employee portion on the first day of the issue was subscribed at a rate of 3.24 times. the
Retail investors were less enthusiastic, with their portion subscribed just 0.51 times, and institutional investors showed a slower pace, with the Qualified Institutional Buyer (QIB) portion subscribed only 0.26 times. Non-Institutional Investors (NII) showed minimal participation, subscribing just 0.02 times.
Anchor Investors Back Zinka Logistics with Rs 501 Crore
Ahead of the IPO's public subscription, the company managed to raise Rs 501 crore from anchor investors. This included both foreign and domestic institutions.
Book running lead managers and registrars
The book-running lead managers of this public issue are Axis Capital Limited, Morgan Stanley India Company Private Limited, JM Financial Limited, and IIFL Capital Services Limited.
KFin Technologies Limited is the registrar of the offer.
GMP and listing
At the time of writing, the grey market premium (GMP) for Zinka Logistics Solutions shares is Rs 0, indicating that the shares are trading at their issue price of Rs 273 with no premium or discount.
The listing of the public issue is expected on November 21, 2024.
Financial Highlights
Coming to the financial highlights, the company reported a gross transaction value (GTV) of Rs 5,356.20 crore and Rs 17,396.19 crore in payments in the three month ended June 30, 2024 and Fiscal 2024.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Investing in IPOs involves risks and potential volatility. Readers are advised to conduct their own research and consult a financial advisor before making investment decisions. The author and publisher are not responsible for any financial losses incurred by readers.