The IPO of Zinka Logistics Solutions Private Limited, the company offering a digital platform for truck operators through the Blackbuck app, has received a healthy response from investors with a 1.86 times subscription on Monday, November 18, 2024.
The Blackbuck app provider plans to utilise its IPO proceeds for strategic growth initiatives across multiple areas. A significant portion will be directed towards sales and marketing efforts, while strengthening its NBFC subsidiary, Blackbuck Finserve Private Limited, by augmenting its capital base. The remaining funds will be allocated for product development and general corporate purposes to support the company's overall expansion plans, as per the company’s prospectus.
Official data from the exchanges shows that the subscription status for the Zinka Logistics Solutions Limited (Blackbuck) IPO at 5 PM on November 18 stands as follows:
| Segment | Issue Portion | Subscription Received | Subscription Status |
| Retail Investors | 41,89,783 | 69,26,958 | 1.65x |
| Non-Institutional Investors (NIIs) | 62,84,674 | 14,87,916 | 0.24x |
| Qualified Institutional Buyers (QIBs) | 1,20,66,813 | 3,32,68,698 | 2.76x |
| Employee Reserved | 26,000 | 2,56,392 | 9.86x |
| Total | 2,25,67,270 | 4,18,39,964 | 1.85x |
1. Zinka Logistics Solutions Limited (Blackbuck) IPO date: The issue opened for subscription on Wednesday, November 13, 2024, and concludes on Monday, November 18, 2024.
2. Zinka Logistics Solutions Limited (Blackbuck) IPO Price: The price band of the public issue has been fixed at ₹259 to ₹273 per equity share.
3. Zinka Logistics Solutions Limited (Blackbuck) IPO Size: The company aims to raise ₹1,114.72 crore through the IPO, which is a combination of a Fresh Issue and an Offer for Sale of 2.01 crore shares and 2.07 crore shares, respectively.
4. Zinka Logistics Solutions Limited (Blackbuck) IPO Lot Size: The IPO lot size is fixed at 54 shares, requiring a minimum investment of ₹14,742 for retail investors.
5. Zinka Logistics Solutions Limited (Blackbuck) IPO reservation: The IPO offers 1.20 crore shares to qualified institutional buyers (QIBs), 62.85 lakh shares to non-institutional investors (NIIs), and nearly 41.90 lakh shares to retail investors.
6. Zinka Logistics Solutions Limited (Blackbuck) IPO allotment date: Zinka Logistics Solutions Limited (Blackbuck) IPO allotment date is set for Tuesday, November 19, 2024. Investors who receive an allotment will see the shares in their demat accounts by Wednesday, November 20, 2024, while those who do not will have their refunds processed on the same day.
7. Zinka Logistics Solutions Limited (Blackbuck) IPO listing: The Mainstream IPO is proposed for listing on the NSE and BSE on Thursday, November 21, 2024.
8. Zinka Logistics Solutions Limited (Blackbuck) IPO book-running lead manager and registrar: Axis Capital Limited, Morgan Stanley India Company Private Limited, JM Financial Limited and IIFL Securities Limited are the book-running lead managers of the Zinka Logistics Solutions Limited (Blackbuck) IPO, while Kfin Technologies Limited is the registrar for the issue.
The Zinka IPO, subscribed 1.86x, will be listed on the NSE and BSE on Thursday, November 21. Keep an eye out for more upcoming IPOs if you missed applying this. You can create a free account with Ventura in minutes and subscribe to IPOs with one click.
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