Zinka Logistics Solutions IPO Subscription Status : IPO Subscribed 1.86 Times on Final Day

Zinka Logistics Solutions Day 3: Subscription Details

Zinka Logistics Solutions IPO saw muted demand on the first day of the subscription, with the issue being booked only 0.12 times. The subscription rate on the second day climbed to 0.32 times with the retail segment a rise in demand. The momentum carried on to the final day, with the issue successfully sailing through on the back of robust demand from institutional and retail investors.

At 7 p.m. on November 18, the company’s portion for qualified institutional buyers (QIBs) was subscribed 2.76 times with bids for 3.32 crore shares against 1.2 crore shares on offer. The non-institutional investors (NIIs) had 62.84 lakh shares on offer; however, the portion was only subscribed 0.24 times with bids for 14.90 lakh shares.

The retail portion saw strong demand as the portion was subscribed 1.66 times. The company received bids for 69.41 lakh shares against 41.89 lakh shares on offer. The employee portion saw the highest interest with the portion being booked 9.88 times as the company received bids for 2.56 lakh shares against an offer of 26,000 shares.

Please Note: The numbers are last updated as per NSE on 18th November, 2024 at 7 pm.

Zinka Logistics Solutions Price Band and Lot Size

The BlackBuck IPO’s lot size is 54 shares. The company has set the price band for the IPO at ₹259 to ₹273 per share. To apply to the Zinka Logistics Solution IPO, an investor will have to make a minimum investment of ₹14,742. The minimum lot size for small non-institutional investors and big non-institutional investors has been set at 14 lots and 68 lots, respectively.

On November 12, 2024, the company announced that it had secured ₹501.33 crore from anchor investors. The lock-in period for anchor investors is 30 days for 50% of the shares and 90 days for the remaining shares.

Zinka Logistics Solutions Day 2: Subscription Details

After being unable to garner significant interest on the first day, Zinka Logistics Solutions’ IPO saw a slight uptick in the subscription rate on the second day. On the first day, the issue was subscribed 24%, with the subscription rate climbing up to 31% on the following day. The issue saw strong demand from retail investors.

At 3:30 p.m. on November 14, the company’s portion for qualified institutional buyers (QIBs) saw a marginal increase as the portion was subscribed 0.26 times with bids for 30.97 lakh shares against 1.2 crore shares on offer. For non-institutional investors (NIIs), the company had set aside 62.84 lakh shares and received bids for 2.4 lakh shares, or 0.03 times.

The retail portion saw a rise in demand, with the portion nearly being subscribed fully at 0.85 times. The company received bids for 35.79 lakh shares against 41.89 lakh shares on offer. The employee portion sailed through with ease as it was subscribed 5.14 times with bids for 1.33 lakh shares.

The issue was subscribed 0.31 times on the second day and received a total of 70.15 lakh bids against an offer of 2.25 crore shares.

Zinka Logistics Solutions Day 1: Subscription Details

Zinka Logistics’ IPO saw a tepid start on the first day of the subscription period. Although there was some demand from institutional investors, demand from retail investors and non-institutional investors was lackluster.

At 3:30 p.m. on November 13, the company’s portion for qualified institutional buyers (QIBs) was subscribed 0.25 times with bids for 30.94 lakh shares against 1.2 crore shares on offer. Meanwhile, the non-institutional investor (NII) portion received bids for 17,388 shares against 62.84 lakh shares on offer.

Similarly, the retail portion saw weak demand with the portion being subscribed 0.09 times. The company received bids for 3.94 lakh shares against 41.89 lakh shares on offer. A quarter of the portion reserved for employees was booked with bids for 6,534 shares.

The issue was subscribed 0.16 times on the first day and received a total of 35.12 lakh bids against an offer of 2.25 crore shares.

About Zinka Logistics Solutions

Zinka Logistics Solutions offers digital solutions for truck operators. Through BlackBuck, its digital platform for truck operators, the company offers various services and solutions such as digital logistics, vehicle financing, FASTag, and fuel cards. The company has a wide base of truck operators conducting business through its platform. Around 27.52% of all Indian truck operators conducted business through the company’s app in FY24.

With the net proceeds of the IPO, the company aims to invest in its NBFC subsidiary, Blackbuck Finserve, to strengthen its capital base. The company will also utilise the funds to boost branding and marketing activities.

For the quarter ended June 30, 2024, the company’s revenue stood at Rs 92.17 crore. The company reported a net profit of Rs 32.38 crore against a net loss of Rs 33.32 crore in the corresponding period last year.