Zinka Logistics Solutions was incorporated in Bengaluru, Karnataka on April 20, 2015. The company is a digital platform for truck operators. Truck operators use the BlackBuck mobile application (the “BlackBuck App”) for their diverse business needs to recharge for tolling and fueling into the payment instrument of the FASTag and fuel partners.
| Bidding Dates |
|---|
| 13 Nov 2024 - 18 Nov 2024 |
| Subscription |
|---|
| 1.86x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹13,986 | 1 | 13 | 54 | 40.8 M | ₹259 - ₹273 | 30.41 % | ₹10575.6 M - ₹11147.2 M | RHP DOC |
Zinka Logistics Solutions Ltd. IPO SUBSCRIPTION STATUS
18 Nov '24Zinka Logistics Solutions Ltd. IPO overall subscription rate was 1.86 times the total available shares
Zinka Logistics Solutions Ltd. IPO retail subscription rate was 1.66 times in the retail segment
Zinka Logistics Solutions Ltd. IPO non-institutional investor subscription rate was 0.24 times in the non-institutional investor category
Zinka Logistics Solutions Ltd. IPO Qualified Institutional Bidder subscription rate was 2.76 times the available shares for Qualified Institutional Bidder
Zinka Logistics Solutions Ltd. IPO Employees subscription rate was 9.88 times in the Employees category
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers | Employees |
|---|---|---|---|---|
| Category Reservation | 10% | 15% | 75% | - |
18 Nov 2024 (Day 3) | 1.66x | 0.24x | 2.76x | 9.88x |
14 Nov 2024 (Day 2) | 0.9x | 0.04x | 0.26x | 5.33x |
13 Nov 2024 (Day 1) | 0.51x | 0.02x | 0.26x | 3.24x |
Zinka Logistics Solutions Ltd. FINANCIALS
Zinka Logistics Solutions Ltd. IPO SUBSCRIPTION STATUS DETAILS
Zinka Logistics Solutions Ltd. had 40.8 M shares on offer
Zinka Logistics Solutions Ltd. IPO offer price was in the range ₹259 - ₹273
Zinka Logistics Solutions Ltd. IPO minimum Investment was ₹13986
Zinka Logistics Solutions Ltd. IPO issue size was ₹ 10575.6 M - ₹ 11147.2 M
Zinka Logistics Solutions Ltd. had a minimum lot size of 54 Shares per application
Zinka Logistics Solutions Ltd. NUMBER OF SHARES ON OFFER
Zinka Logistics Solutions Ltd. IPO IMPORTANT DATES
| Issue Open Date | 13 Nov 2024 |
| Issue close Date | 18 Nov 2024 |
| Allotment Date | 19 Nov 2024 |
| Refund Date | 20 Nov 2024 |
| Demat Account Credit Date | 20 Nov 2024 |
| Listing Date | 22 Nov 2024 |
| Listing on Exchange(s) | NSE and BSE |
| Zinka Logistics Solutions Ltd. Allotment Status | Exchange |
Zinka Logistics Solutions Ltd. IPO subscription opened on 13 Nov 2024, and closed on 18 Nov 2024
IPO allotment for Zinka Logistics Solutions Ltd. was finalized on Tuesday, 19 Nov 2024
IPO listing for Zinka Logistics Solutions Ltd. was on NSE and BSE on Friday, 22 Nov 2024
Zinka Logistics Solutions Ltd. IPO LISTING GAINS
| Issue Price (adjusted) | 273.0 |
| Listing Open Price | 280.9 |
| Listing Close Price | 260.1 |
| Listing Gain% | 2.9% |
| Current Gain% | 111.6% |
Zinka Logistics Solutions Ltd. Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| BlackBuck Ltd. | 577.6 | 10194.2 | 62.3 | 0 | 14.8 | 11.3 | 9.2 | 714.6 | 54.5 | 160.3 | 1952.6 | 9.3 | 4749.2 |
| TVS Supply Chain Solutions Ltd. | 133.8 | 5903.1 | 51.7 | 0.1 | 0.5 | 5.6 | 1.6 | 11040.8 | 10.1 | 114.3 | 940.9 | 2.6 | 940.9 |
| Sanghvi Movers Ltd. | 488.4 | 4228.4 | 21.2 | 1.1 | 3.6 | 14.1 | 7.9 | 1099.6 | 33.6 | 184.3 | 17.7 | 23 | 19.8 |
| Kernex Microsystems (India) Ltd. | 2451.8 | 4119.9 | 46.6 | 0.6 | 9.6 | 35.6 | 9.6 | 432.5 | 126.2 | 88.3 | 75.8 | 52.6 | 75.8 |
| TIL Ltd. | 232.1 | 1843.4 | -59.9 | 0.1 | 5.7 | -27.7 | -4.5 | 337.4 | -1.7 | -30.8 | -1175.9 | -3.9 | -1175.9 |
| Navkar Corporation Ltd. | 99.6 | 1499.5 | 37.5 | 0.2 | 2 | 1.5 | 1.4 | 690.6 | 41 | 30.1 | 166.5 | 2.7 | 234.2 |
Zinka Logistics Solutions Ltd. INFORMATION ON IPO ISSUE
About Zinka Logistics Solutions Ltd.
Zinka Logistics Solutions was incorporated in Bengaluru, Karnataka on April 20, 2015. The company is a digital platform for truck operators. Truck operators use the BlackBuck mobile application (the “BlackBuck App”) for their diverse business needs to recharge for tolling and fueling into the payment instrument of the FASTag and fuel partners.
Object of the Issue
- Funding towards sales and marketing cost.
- Investment in Blackbuck Finserve Private, its NBFC subsidiary, for financing the augmentation of its capital base to meet its future capital requirements.
- Funding of expenditure in relation to product development.
- General corporate purposes.
Zinka Logistics Solutions Ltd. - PROMOTERS
| Name |
|---|
| Rajesh Kumar Naidu Yabaji |
| Chanakya Hridaya |
| Ramasubramanian Balasubramaniam |
Zinka Logistics Solutions Ltd. Book running lead manager
Axis Capital Limited
zinka.ipo@axiscap.in
Morgan Stanley India Company Private Limited
blackbuckipo@morganstaley.com
JM Financial Limited
zinka.ipo@jmfl.com
IIFL Securities Limited
zinka.ipo@iiflcap.com
Zinka Logistics Solutions Ltd. Registrar to the offer
KFin Technologies Limited
zinka.ipo@kfintech.com
Zinka Logistics Solutions Ltd. Strengths
India’s largest digital platform for truck operators
The company is India’s largest digital platform for truck operators (in terms of number of users) as of March 31, 2024, according to the Redseer Report, and it facilitated over 413.34 million transactions for 963,345 annual transacting truck operators in FY24
Strong network effects
The company has a wide network of truck operators built over nine years of operations. It has been able to build a nationwide truck operator base through targeted digital and telemarketing campaigns and effective nationwide on-ground teams. Through this, it has been able to grow the customer base of annual transacting truck operators to 963,345 in FY24 from 482,446 in FY22
Scalable and reliable in-house technology
The company has a dedicated in-house product, engineering, and data science team that develops technology layers enabling its comprehensive suite of solutions to address these challenges. The team is assisted by inputs from its customers to ensure continuous feedback-driven new product development
Zinka Logistics Solutions Ltd. Risks
Dependent on business partners
The company depends on its business partners in the payments and vehicle financing offerings. Its partners in its payments offering contribute to a significant portion of revenues (45.26% of total revenue from continuing operations in FY24). The loss of any such partners may adversely affect the business, results of operations, and financial condition
Concentrated revenue source
The company's revenues are significantly dependent on its payments and telematics offerings, which contributed 94.53% to total revenue from continuing operations in FY24. Any negative impact on these offerings could materially affect the business, results of operations, and financial condition
Dependent on certain key suppliers
The company depends on certain key suppliers to procure a significant portion of its vehicle tracking solutions. Any loss of the relationship with these suppliers or any supply chain disruption could adversely affect the business
IPO FAQs
This IPO consists of an offer for sale of up to Rs 564.7 crore, of 20,685,800 shares. It also consists of a fresh issue of Rs 550.0 crore.
The promoters of the company are Rajesh Kumar Naidu Yabaji, Chanakya Hridaya and Ramasubramanian Balasubramaniam.
The category allocation of qualified institutional buyers is 75.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 10.0%.
The price band of the IPO is Rs 259.0 - 273.0.
The IPO application opens on Nov 13, 2024 and closes on Nov 18, 2024.
The minimum lot size for the IPO is 54. The maximum lot size for the IPO is 702.
For all category investors, the minimum application amount for this IPO is Rs. 13,986.0, the maximum value for this IPO is Rs 191,646.0.
This IPO will be allotted on Nov 19, 2024.
The refund will be credited to your account on Nov 20, 2024.
The allotted shares will be credited to your demat on Nov 20, 2024.
Zinka Logistics Solutions Ltd.’s shares listed on the stock exchanges on Nov 22, 2024.