Zinka Logistics Debuts With 3% Hike

New Delhi: Shares of Zinka Logistics Solutions Ltd, a digital platform for truck operators, on Friday listed with a premium of nearly 3 per cent against the issue price of Rs 273. The stock made its debut at Rs 279.05, up 2.21 per cent from the issue price on the BSE. But, later the stock gave up all the early gains and were trading 3.44 per cent lower at Rs 263.60. At the NSE, the stock listed at Rs 280.90, climbing 2.89 per cent. Later, shares of the firm declined 3 per cent to Rs 264.65. The company’s market valuation stood at Rs 4,697.86 crore. The initial public offering of Zinka Logistics Solutions Ltd got subscribed 1.86 times on the last day of bidding on Monday. The share sale had a price range of Rs 259-273 apiece. The IPO had a fresh issue of shares worth Rs 550 crore and an offer-of-sale (OFS) of up to 2.06 crore shares.