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Zinka Logistics Solutions Ltd

Logistics

Offer Period :

13th to 18th Nov 2024

Zinka Logistics Solutions Ltd IPO Details

IPO Date 13th to 18th Nov 2024 Minimum Investment ₹14742 / 1 Lots
Listing Date 2024-11-22 Maximum Investment ₹191646 / 13 Lots
Face Value ₹1 per share Total Issue Size ₹1114.72 Crores
Price ₹273 to ₹273 per share Fresh Issue ₹550 Crores
Lot Size 1 Lots (54 Shares) Offer For Sale ₹ 564.72
Listing At BSE, NSE Retail Discount ₹ 0
Employee Discount ₹25 per share    
IPO Date 13th to 18th Nov 2024
Listing Date 2024-11-22
Face Value ₹1 per share
Price ₹273 to ₹273 per share
Lot Size 1 Lots (54 Shares)
Listing At BSE, NSE
Employee Discount ₹25 per share
Minimum Investment ₹14742 / 1 Lots
Maximum Investment ₹191646 / 13 Lots
Total Issue Size ₹1114.72 Crores
Fresh Issue ₹550 Crores
Offer For Sale
Retail Discount ₹ 0

About Zinka Logistics Solution Limited IPO

Founded in April 2015, Zinka Logistics Solution Limited operates the BlackBuck app, a digital platform designed for truck operators. By fiscal year 2024, 963,345 truck operators utilized this platform, accounting for 27.52% of India's total truck operators. The BlackBuck app offers services such as payments, telematics, a freight marketplace, and vehicle financing to help truck operators efficiently achieve their goals. As of March 31, 2024, the platform had processed payments worth a Gross Transaction Value (GTV) of ₹173,961.93 million. Additionally, the company averaged 356,050 active telematics devices monthly and facilitated 4,035 loans with a total value of ₹1,967.88 million. Vehicle financing services were extended to customers across 48 districts in seven Indian states. Zinka Logistics' competitive strengths include being India’s largest digital platform for truck operators, an extensive network of operators built over nine years, innovative offerings tailored to market needs, a strong multi-channel sales network, operational leverage, and high profitability. The company boasts an experienced management team and, as of March 31, 2024, had a workforce of 4,289 employees.

Timeline

Important dates for allocation and IPO listing.

13th Nov

IPO Starts

18th Nov

IPO Ends

19th Nov

Allotment Date

21st Nov

Initiation of Refund

21st Nov

Credit of Shares to Demat Account

22nd Nov

IPO Listing Date

Shareholder Pattern

  Pre-Issue Post-Issue
Promoter Group 32.91 26.83
Public Group 67.09 73.17

Zinka Logistics Solutions Ltd IPO Reservation

QIB Shares Offered 12242610(29.98%)
NII (HNI) Shares Offered 6121305(14.99%)
Retail Shares Offered 4080870(9.99%)
Anchor Investor Shares Offered 18363916(44.97%)
Total Shares Offered 40834700
Total Shares With Anchor Investor 40834700

IPO Lot Size

ApplicationLotsSharesAmount
Retail (Min)---
Retail (Max)---
S-HNI (Min)---
S-HNI (Max)---

Zinka Logistics Solutions Ltd IPO Registrar

KFin Techologies Ltd
Phone Number +91 40 6716 2222
Email Id einward.ris@kfintech.com
Our Website www.kfintech.com

Zinka Logistics Solutions Ltd IPO Lead Manager

1. Axis Capital Ltd

2. Morgan Stanley India Company Pvt Ltd

3. JM Financial Ltd

4. IIFL Securities Ltd

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Zinka Logistics Solutions Ltd IPO Subscription LIVE Status

Category No. of shares offered No. of shares bid No. of subscribed
Qualified Institutional Buyers (QIBs) 1,22,42,611 30,97,602 2.0
Non Institutional Investors (NIIs) 61,21,305 2,93,598 81.0
Non Institutional Investors (Bid amount of more than Ten Lakh Rupees) 40,80,870 74,142 75,379.0
Non Institutional Investors (Bid amount of more than Two Lakh and upto Ten Lakh Rupees) 20,40,435 2,19,456 75,379.0
Retail Individual Investors (RIIs) 40,80,870 43,04,124 14,851.0
Employee Reserved 26,000 1,65,564 0.0
Total 2,24,70,786 78,60,888 75,379.0

Strength of Zinka Logistics Solutions Ltd

1. We are India's largest digital platform for truck operators.

2. We have strong network effects of platform resulting in robust customer retention rates and higher monetization.

3. We have a repeatable playbook of creating and launching new offerings.

4. We have an omnichannel distribution network with robust sales and service strategy driving customer adoption.

5. We have a scalable and reliable in-house technology integrating with multiple stakeholders.

6. We have high growth business with operating leverage and strong unit economics.

7. We are a Promoter-led management team and have an experienced board.

Risks Involved

1. Some of its Investors have transferred 266,644 Equity Shares to Rajesh Kumar Naidu Yabaji, one of the company Promoters in the month of October 2024 as a gift/Rs.1 per Equity Share. These transfers did not involve any quid pro quo arrangements and were not contingent on the Company achieving certain business / financial milestone or listing of Equity Shares on the Stock Exchanges. There was no agreement subsisting prior to the DRHP to effect these transfers and accordingly were not disclosed in the DRHP. The said transfers will result in a gain of Rs.[*] million at the upper end of the price band to Rajesh Kumar Naidu Yabaji.

2. The Company and its Subsidiary, TZF Logistics Solutions Private Limited have incurred losses and witnessed negative operating cash flows in the past. Further, its Subsidiary, BlackBuck Finserve Private Limited, has witnessed negative operating cash flows in the past three financial years.

3. The company depends on its business partners in its payments and vehicle financing offerings. The company partners in its payments offering contribute to a significant portion of its revenues (41.04% and 42.50% of total revenue from continuing operations in the three months ended June 30, 2024 and Fiscal 2024, respectively) and one of its FASTag Partner Banks contributed to 29.62% and 33.51% of total revenue from continuing operations in the three months ended June 30, 2024 and Fiscal 2024, respectively. The loss of any such partners may adversely affect its business, results of operations and financial condition.

4. Its revenues are significantly dependent on the company payments and telematics offerings, which contributed 92.79% and 94.53% to its total revenue from continuing operations in the three months ended June 30, 2024 and Fiscal 2024, respectively. Any negative impact on these offerings could materially affect its business, results of operations and financial condition.

5. The company depends on certain key suppliers to procure a significant portion of its vehicle tracking solutions. The company does not enter into long-term agreements with these suppliers and any denial of supplies or loss of the relationship with these suppliers or any supply chain disruption could adversely affect its business, results of operations and financial condition.

6. The company is India's largest digital platform for truck operators (in terms of number of users) in Fiscal 2024, which comprises 27.52% of India's truck operators (Source: Redseer Report). An inability to attract new truck operators or retain its existing truck operators could materially and adversely affect its business, results of operations and financial condition.

7. The company derives a significant portion of its revenues through commission income (41.09% and 42.86% of total revenue from continuing operations in the three months ended June 30, 2024 and Fiscal 2024, respectively) and subscription fees (38.37% and 39.70% of total revenue from continuing operations in the three months ended June 30, 2024 and Fiscal 2024, respectively). Any fluctuation or negative trend in its commission income and/or subscription fees could materially affect its business, results of operations and financial condition.

8. The company has in the past failed to file certain forms with RBI for certain allotments made by the Company, within the prescribed timelines and have compounded such delays under FEMA, 1999 and the rules made thereunder and paid the compounding fee. The company has also paid late submission fees for delays in filing of forms with RBI in respect of certain allotments made by the Company and direct investments made by the Company in its Subsidiaries.

9. The company intend to utilize a part of the Net Proceeds towards investment in Blackbuck Finserve Private Limited, its NBFC subsidiary, which does not have an established operating history, for financing the augmentation of its capital base to meet its future capital requirements.

10. The company avail certain services of third-party service providers for its platform to implement the company sales and service strategy, and any disruption of or interference with its use of such service could adversely affect its business, results of operations and financial condition.

Why should you invest in

-

Financials

Particulars For the financial year ending (in ₹ million)
  2024 2023
Total Assets 654.32 654.25
Total Liabilities 654.32 654.25
Total Expenses 483.42 431.77
Total Revenue 
316.51 195.09
Profit After Tax -193.95 -290.5
EBITDA -138.78 -213.08
Adjusted EBITDA 0 0

Zinka Logistics Solutions Ltd IPO Listing Details

Listing Date BSE Script Code NSE Symbol ISIN Final Issue Price
2024-11-22 544288 BLACKBUCK
INE0UIZ01018
₹273 per share

Listing Day Trading Information

Price Details BSE NSE
Final Issue Price ₹273 ₹273
Open ₹279.05 ₹280.9
Low ₹255.25 ₹255.35
High ₹285.8 ₹285.9
Low ₹255.25 ₹255.35

Interested in more opportunities? Check out our Upcoming IPO section for new listings and don’t forget to check your IPO allotment status for Zinka Logistics Solutions Ltd IPO

 

Frequently Asked Questions

What is Zinka Logistics Solutions Ltd IPO?

Answer Field

Zinka Logistics Solutions Ltd IPO is a Mainboard IPO of 4,08,34,700 equity shares of a face value of ₹1 aggregating up to ₹1114.72 Crores. The issue is priced at ₹273 to ₹273 per share. The minimum order quantity is 54 Shares. The IPO opens on November 13, 2024, and closes on November 18, 2024. KFin Techologies Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE,NSE.

When Zinka Logistics Solutions Ltd IPO will open?

Answer Field

The Zinka Logistics Solutions Ltd IPO opens on November 13, 2024 and closes on November 18, 2024.

What is the lot size of Zinka Logistics Solutions Ltd?

Answer Field

Zinka Logistics Solutions Ltd lot size is 54 shares, and the minimum amount required is ₹14,742.

How to apply for Zinka Logistics Solutions Ltd IPO?

Answer Field

You can apply in Zinka Logistics Solutions Ltd IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. To apply for an IPO:

• Login to Bajaj Broking account App/Website & click on IPO

• Enter the number of lots and price at which you wish to apply.

• Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange.

• You will receive a mandate notification to block funds in your UPI app.

• Approve the mandate request on your UPI and funds will be blocked.

When is Zinka Logistics Solutions Ltd IPO allotment?

Answer Field

The finalization of Basis of Allotment for Zinka Logistics Solutions Ltd IPO will be done on November 19, 2024, and the allotted shares will be credited to your demat account by November 21, 2024.

When is Zinka Logistics Solutions Ltd IPO listing date?

Answer Field

The Zinka Logistics Solutions Ltd listing date is November 22, 2024.

Who is the registrar of Zinka Logistics Solutions Ltd IPO?

Answer Field

The registrar of Zinka Logistics Solutions Ltd IPO is KFin Techologies Ltd

Which company is the book-running lead manager of the IPO?

Answer Field

Axis Capital Ltd,Morgan Stanley India Company Pvt Ltd,JM Financial Ltd,IIFL Securities Ltd will be the book-running lead manager of this IPO.

What is the fresh issue of Zinka Logistics Solutions Ltd IPO?

Answer Field

The fresh issue size is ₹550 Crores equity shares.

What minimum lot size can retail subscribers subscribe to Zinka Logistics Solutions Ltd?

Answer Field

Retail investors can subscribe to a minimum of one lot, 54 shares and ₹14,742 amount.

How can I approve the UPI mandate request for Zinka Logistics Solutions Ltd IPO?

Answer Field

To apply for Zinka Logistics Solutions Ltd IPO, you need to log in to your demat account to complete the bidding process. Then, approve the payment mandate on your UPI app.

What is the price range of Zinka Logistics Solutions Ltd?

Answer Field

The price of each Zinka Logistics Solutions Ltd share will be ranging in between ₹273 to ₹273 per share.

What is the cut-off time for the UPI mandate for Zinka Logistics Solutions Ltd IPO?

Answer Field

The cut-off time for the UPI mandate confirmation is 5:00 PM, November 18, 2024.

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