Zinka Logistics Gears Up for Rs 1,115 Crore IPO
Zinka Logistics Solutions Ltd, a platform for truck operators, announced an IPO priced at Rs 259-273 per share, aiming to raise Rs 1,115 crore. The offering includes fresh shares worth Rs 550 crore and an OFS of 2.06 crore shares. It will fund business expansion and operations.
- Country:
- India
Zinka Logistics Solutions Ltd, the Bengaluru-based digital platform for truck operators, is setting the stage for its highly anticipated Initial Public Offering (IPO) with a price band of Rs 259-273 per share. This ambitious move aims to raise Rs 1,115 crore.
The IPO will start from November 13 until November 18, featuring a fresh issue of shares worth Rs 550 crore and an Offer for Sale (OFS) of up to 2.06 crore shares. Promoters and investors will offer sale shares valued at Rs 565 crore at the top end of the price range.
Funds will be deployed towards sales and marketing (Rs 200 crore), financial backing (Rs 140 crore), product development (Rs 75 crore), and general corporate objectives. Zinka is keen on digitally transforming India's trucking industry, leveraging its app to streamline payments, telematics, load management, and vehicle financing. Substantial amounts have been processed in recent months, indicating robust growth.
(With inputs from agencies.)
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