Considering the upper price band of Rs 273, the stock is expected to list at a flattish premium or even a discount to the issue price.
However, it is important to note that grey market premiums are just an indicator as to how the company’s shares are stacked up in the unlisted market and are subject to change rapidly.
The IPO of Zinka Logistics received decent response from investors with an overall subscription of just nearly 2 times at close.
Ahead of the issue opening, the company raised Rs 500 crore from anchor investors, where Nomura, Hornbill Orchid India Fund, Steadview Capital Mauritius, TIMF Holdings, Florida Retirement System among others participated.
Zinka Logistics is dedicated to transforming the trucking industry in India by digitally empowering truck operators to manage their businesses and increase their earnings. The company’s innovative BlackBuck app serves as a comprehensive platform, providing solutions for payments, telematics, load management, and vehicle financing.The BlackBuck app, central to Zinka Logistics’ offerings, empowers truck operators to manage various aspects of their operations. Through the app, operators can handle payments for tolling and fueling, monitor drivers and fleets using telematics, find loads on the marketplace, and access financing for purchasing used vehicles.In FY24, the app saw robust engagement, with monthly active truck operators using it for over 16.18 days per month and spending an average of 39.56 minutes daily on the platform.
Zinka Logistics processed a gross transaction value (GTV) of Rs 17,396.19 crore in payments for FY24. The payments platform addresses significant expenses for truck operators, such as tolls and fuel.
The company’s consolidated revenue from continuing operations increased by 69.01% to Rs 296.92 crore in FY24 from Rs 175.68 crore in FY23, primarily due to an increase in its average monthly transacting truck operators, which led to an increase in its commission income, subscription fees, and service fees.