Zinka Logistics Gears Up for Blockbuster IPO with ₹ 1,115 Crore Offering

Zinka Logistics Solutions Ltd is set to open its ₹ 1,115 crore IPO with a price band of ₹ 259-273 per share. The funds raised will support sales, marketing, and product development. Major investors have already committed ₹ 501 crore. The company aims to empower Indian truck operators digitally.

Devdiscourse News Desk | New Delhi | Updated: 12-11-2024 22:12 IST | Created: 12-11-2024 22:12 IST

Zinka Logistics Gears Up for Blockbuster IPO with ₹ 1,115 Crore Offering — This image is AI-generated and does not depict any real-life event or location. It is a fictional representation created for illustrative purposes only.

Country:
India

Zinka Logistics Solutions Ltd, a digital platform for truck operators, mobilized over ₹ 501 crore from key anchor investors ahead of its highly anticipated initial public offering. Major funds like SBI Mutual Fund, Bandhan MF, and ICICI Prudential Life Insurance are among the investors involved.

The ₹ 1,115 crore IPO will open for public subscription from November 13 to 18, with a price range set at ₹ 259-273 per share. It consists of ₹ 550 crore as a fresh issue and ₹ 565 crore as an offer of sale by promoters and investors.

Proceeds will bolster sales and marketing, and product development. Zinka aims to revolutionize the Indian trucking industry through its BlackBuck app, providing solutions for payments and load management. The firm processed payments exceeding ₹ 5,000 crore in a quarter ending June 2024, showcasing its market impact.

(With inputs from agencies.)