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Unlisted shares of Zinka Logistics Solutions Ltd are buying and selling at Rs 273 apiece within the gray market, which is similar as its IPO difficulty value of Rs 273. The zero GMP signifies a flat and even detrimental itemizing for the IPO.
As per the draft IPO papers filed on Tuesday, Belrise Industries intends to utilise proceeds value Rs 1,618 crore for cost of debt.
Zinka Logistics Solutions IPO Listing Date: Zinka Logistics Solutions Ltd (or BlackBuck Ltd), which was scheduled to be listed on inventory exchanges BSE and NSE on Thursday, has postponed its itemizing to Friday. As per norms, an organization is remitted to record its shares inside three days of the IPO time limit (T+3). The IPO itemizing typically takes place at 10:00 am.
The IPO’s GMP continues to stay zero for the previous 10 days. According to market observers, unlisted shares of Zinka Logistics Solutions Ltd are buying and selling at Rs 273 apiece within the gray market, which is similar as its IPO difficulty value of Rs 273.
The zero GMP signifies a flat and even detrimental itemizing for the IPO.
The GMP is predicated on market sentiments and retains altering. ‘Grey market premium’ signifies buyers’ readiness to pay greater than the difficulty value.
The preliminary public providing of digital platform for truck operators Zinka Logistics Solutions Ltd was opened for subscription between November 13 and November 18. So, as per guidelines, the IPO want itemizing by November 22.
The Rs 1,100-crore IPO acquired a 1.87 occasions subscription garnering bids for 4,19,43,258 shares as in opposition to the two,24,70,786 shares on supply.
According to the purple herring prospectus, the Zinka Logistics Solutions IPO itemizing was initially scheduled to happen on November 21, 2024. However, the itemizing has been postponed by a day because of the closure of inventory exchanges on November 20, 2024, on account of the Maharashtra Assembly elections.
Zinka Logistics Solutions IPO: What Should Investors Do Post Listing?
Shivani Nyati, head of wealth at Swastika Investmart Ltd, mentioned, “Zinka Logistics, a number one digital platform for truck operators, is gearing up for its inventory market debut. While the IPO has acquired a good subscription of 1.87 occasions, the present gray market premium (GMP) of 0% signifies a possible for a flat and even detrimental itemizing.”
The firm’s robust community results and place as a number one platform within the logistics trade are constructive components. However, monetary challenges, together with ongoing losses and detrimental money circulation, increase issues. Additionally, the corporate’s authorized challenges and up to date worker layoffs point out operational difficulties. The low promoter holding additional provides to investor skepticism, she added.
“Given the corporate’s monetary efficiency, operational challenges, and the dearth of a transparent valuation metric, buyers are suggested to train warning,” Nyati mentioned.
Zinka Logistics Solutions IPO: More Details
Zinka Logistics Solutions on Tuesday mobilised over Rs 501 crore from anchor buyers, a day earlier than its preliminary share-sale opening for public subscription.
The IPO is a mixture of a recent difficulty of shares value Rs 550 crore and a suggestion of sale (OFS) of as much as 2.06 crore shares. The OFS by promoters and investor promoting shareholders is valued at Rs 565 crore on the higher finish of the worth band.
A reduction of Rs 25 per fairness share is being supplied to eligible staff bidding within the worker reservation portion.
Proceeds from the recent issuance to the extent of Rs 200 crore can be used for gross sales and advertising and marketing initiatives; Rs 140 crore for funding in Blackbuck Finserve for financing the supporting the capital base to satisfy future capital necessities; Rs 75 crore for funding of expenditure in relation to product growth, and a portion can be used for common company functions.
Zinka Logistics is devoted to remodeling the trucking trade in India by digitally empowering truck operators to handle their companies and improve their earnings. The firm’s BlackBuck app serves as a complete platform, offering options for funds, telematics, load administration and car financing.
The Bengaluru-based agency processed a Gross Transaction Value (GTV) of Rs 5,356.20 crore and Rs 17,396.19 crore in funds within the three months ended June 30, 2024, and financial 2024, respectively. The funds platform addresses vital bills for truck operators, reminiscent of tolls and gasoline.
The firm companions with FASTag banks and a number of oil advertising and marketing corporations (OMCs) to supply environment friendly and safe tolling and fuelling options, producing income by way of fee margins based mostly on transaction values.
For the three months ended June 2024, the corporate’s income from persevering with operations stood at Rs 92.17 crore with a revenue after tax of Rs 28.67 crore.
Axis Capital, Morgan Stanley India Company, JM Financial and IIFL Capital Services are the book-running lead managers to the difficulty.
