Zinka Logistics Solutions Ltd Opens On November 13. Check IPO Details Issue Date Price

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Zinka Logistics Solutions Ltd Opens On November 13. Check IPO Details Issue Date Price

November 14, 2024
Zinka Logistics Solutions Ltd Opens On November 13. Check IPO Details Issue Date Price

Zinka Logistics Solutions Limited is coming out with a fresh public issue to raise Rs. 1,114.72 crores from the market.

Below are the details of the Zinka Logistics Solutions Limited IPO:

  • Issue opens – November 13 (Wednesday)
  • Issue closes – November 18 (Monday)
  • Issue size – Rs. 1,114.72 crores
  • Price band – Rs. 259 - 273 per equity share
  • Bid lot – 54 shares and in multiples thereof.

And here are some details of the company and further details on the IPO.

Company Details:

  • Incorporated on April 20, 2015, Zinka Logistics Solutions (“Zinka”) is an India’s largest digital platform for truck operators (in terms of number of users), with 963,345 truck operators in the country transacting on their platform in Fiscal 2024, which comprises 27.52% of India’s truck operators.
  • Using their platform, their customers (primarily comprising truck operators) digitally manage payments for tolling and fuelling, monitor drivers and fleets using telematics, find loads on their marketplace and get access to financing for the purchase of used vehicles. Truck operators use the BlackBuck mobile application (the “BlackBuck App”) for their diverse business needs.
  • The gross transaction value (“GTV”) in payments was Rs. 5,356.20 crore and Rs. 17,396.19 crore in the 3 months ended June 30, 2024 and Fiscal 2024, respectively. Their customers recharge for tolling and fuelling through the BlackBuck App into the payment instrument of the FASTag and fuel partners. Truck operators manage their truck-level tolling and fuelling operations through the BlackBuck App, and gain cost benefits and effective control over expenses through decreased risk of pilferage and unauthorized spending.
  • Truck operators purchase telematics services such as vehicle tracking and fuel sensors to manage their drivers and fleets. Zinka had 390,088 and 356,050 average monthly active telematics devices in the 3 months ended June 30, 2024 and Fiscal 2024, respectively.
  • Truck operators use their loads marketplace product to search for loads to fill their empty capacities or to get a better price for a load. Zinka had 0.71 million and 2.12 million load postings in the 3 months ended June 30, 2024 and Fiscal 2024, respectively, which enabled 133,369 and 256,685 truck operators to get a load during the same periods.
  • Truck operators avail used commercial vehicle financing through their platform. As on June 30, 2024, they have facilitated disbursements of Rs. 252.76 crore. 
  • Company’s offerings solve critical problems for their customers and form an integral part of their daily lives. In the 3 months ended June 30, 2024 and Fiscal 2024, their monthly transacting truck operators were active for more than 16.26 days and 16.18 days, respectively, in a month and on an average spent 41.54 minutes and 39.56 minutes, respectively, daily, on the BlackBuck App.
  • Zinka has the largest physical network (in terms of number of Touchpoints) across India and as of June 30, 2024, they have sold and serviced their products across 628 districts constituting 80% of India’s districts, including in all the major transportation hubs and across 76% of the toll plaza network in India. They have a digitally enabled network of 9,374 touchpoints to conduct onboarding and servicing activities as of June 30, 2024.
Issue Size: Rs. 1,114.72 Cr.

Employee Reservation: Upto 26,000 Shares

Employee Discount: Rs. 25 per share

Issue break-up:
QIB - 75 % of the net offer - Rs.  835.56 Cr
NIB - 15 % of the net offer - Rs.  167.11 Cr .
RET - 10 % of the net offer - Rs. 111.41 Cr

Listing: BSE & NSE

Registrar: KFin Technologies Limited

UPI : All Retail & NII Bidders (bids up to Rs. 5,00,000) Applications through brokers are compulsorily in UPI Mode

Note

Application made using third party UPI or ASBA Bank A/c are liable to be rejected.

The UPI Mandate acceptance time for Retail and NII Bidders (bids up to Rs. 5,00,000) shall expire at 5:00 PM on the closing day of the IPO i.e., Monday, November 18th, 2024.

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