On Thursday, the second day of bidding, Zinka Logistics Solutions Ltd.'s IPO has already received 30 per cent subscriptions.
According to data on the NSE website, 66,90,060 shares were bid on during the IPO, out of the 2,25,67,270 equity shares that were offered.
The demand was driven by retail investors, as 78 per cent of the quota allotted to them was subscribed. Non-institutional investors (NIIs) quota received 3 per cent subscriptions, whereas qualified institutional buyers (QIBs) quota received 26 per cent.
IPO structure and offer size
A fresh issuance of 2.01 crore shares, valued at Rs 550 crore, and an offer-for-sale (OFS) component of 2.07 crore shares, valued at Rs 564.72 crore, are both included in the bookbuilding offer.
Zinka Logistics has reserved seventy-five percent of the net offer size for qualified institutional buyers. Furthermore, the company has reserved 10 per cent of the net issue for retail individual investors and up to 15 per cent for non-institutional investors (NIIs).
Price band and minimum bid
Blackbuck's IPO is expected to cost between Rs 259 and Rs 273 per share. Retail investors must bid on a minimum lot size of 54 shares with an investment of Rs 14,742 at the upper end of the price range in order to participate in the issue.
Zinka Logistics Solutions Limited was founded in April 2015, offers a digital platform called the BlackBuck app for truck operators, providing services like payments, telematics, a freight marketplace, and vehicle financing.#zinkalogistics #blackbuck #ipo #stockmarket pic.twitter.com/tlLoCYKFLK
— Finance Master Jitin (@finance_jitin) November 9, 2024
Timeline for subscription and listing
November 13–18 is when subscriptions to the mainboard issue will be accepted.
The Zinka Logistics initial public offering (IPO) share allocation status is expected to be finalised on Tuesday, November 19. While unsuccessful bidders will start receiving refunds on Wednesday, November 20, successful bidders will receive shares of Zinka Logistics Solution in their Demat accounts the same day after the share allocation.
Zinka Logistics Solution will list its shares on the NSE and BSE. On Thursday, November 21, shares of Zinka Logistics Solution are anticipated to go public.
Companny financials
For the June quarter of FY25, Zinka Logistics Solution generated revenue of Rs 98.33 crore and profit-after-tax of Rs 32.38 crore.
From FY23 to FY24, Zinka Logistics Solution's revenue increased by more than 62%, from Rs 195.09 crore to Rs 316.51 crore. With a net loss of Rs 193.95 crore in FY24, the company reported a loss of Rs 290.5 crore in FY23.