Zinka Logistics Solutions Opens For Subscription Today; Raises ₹501 Cr From Anchor Investors

Zinka Logistics Solutions raised about ₹501 crore from anchor investors on Tuesday, a day ahead of its public subscription.

Anchor investors include SBI Mutual Fund (MF), Bandhan MF, Invesco MF, ICICI Prudential Life Insurance Company, Nomura, Steadview Capital Mauritius, TIMF Holdings, and Hornbill Orchid India Fund.

With a lot size of 54 shares, the IPO is valued at ₹1,115 crore. The shares will be available for subscription between November 13-18. Price range has been pegged between ₹259-273 apiece.

While fresh issue is valued at ₹550 crore, offer for sale aggregates to ₹564.72 crore. Money raised via the fresh issue will be used towards covering sales and marketing costs, funding development expenditure and meeting general corporate purposes.

For the period between FY22 and FY24, revenue from operations increased by over 35%. However, the company incurred losses of ₹284 crore, ₹290 crore, and ₹193 crore in FY22, FY23, and FY24. The trucking sector is set to be valued at $35 billion by FY28.

About the company

Founded in 2015, Zinka Logistics is a digital platform engaged in offering payments, telematics and vehicle financing services among many to truck operators. It facilitates these services from BlackBuck app.

Zinka Logistics Solutions Opens For Subscription Today; Raises ₹501 Cr From Anchor Investors