Zinka Logistics Solutions Ltd Prepares for Major IPO

Zinka Logistics Solutions Ltd, a digital platform for truck operators, has filed papers with SEBI for an initial public offering (IPO) to raise funds through share sale. The IPO includes fresh issuance of Rs 550 crore and an offer for sale of up to 2.16 crore equity shares by promoters and investors.

Zinka Logistics Solutions Ltd, an online platform serving truck operators, has submitted preliminary documents to SEBI to initiate fundraising via an initial public offering (IPO).

The company's IPO consists of a fresh issue of Rs 550 crore and the sale of up to 2.16 crore equity shares by both promoters and investors, the Bengaluru-based firm disclosed. Among the sellers are promoters Rajesh Kumar Naidu Yabaji, Chanakya Hridaya, and Ramasubramanian Balasubramaniam, along with investors including Accel India IV (Mauritius) Ltd and GSAM Holdings LLC.

The IPO also provides a provision for eligible employees to subscribe with a discount. A possible pre-IPO placement of up to 20% of the fresh issue size is also being considered, which could reduce the new issuance accordingly.

The funds from the fresh issuance would be allocated as follows: Rs 200 crore for sales and marketing, Rs 140 crore for capital augmentation of Blackbuck Finserve Pvt Ltd, and Rs 75 crore for product development and general corporate purposes.

Zinka Logistics had 1,783 permanent employees and 3,638 contract workers as of March 2024, and its operator base expanded to 9,63,345 truck operators. The company aims to list its shares on the BSE and NSE.

(With inputs from agencies.)