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Zinka Logistics Solution IPO
Zinka Logistics Solutions Ltd
₹13,986 /54 sharesMinimum Investment
Zinka Logistics Solution IPO Listing Details
| Listed On | Issue Price | Listing Price | Listing Gains |
|---|---|---|---|
| -- | ₹273.00 | ₹280.90 | ₹7.90 (2.89%) |
Zinka Logistics Solution IPO Details
| Bidding Dates | Min. Investment | Lot Size | Price Range |
|---|---|---|---|
| 13 Nov ‘24 - 18 Nov ‘24 | ₹13,986 | 54 | ₹259 - ₹273 |
| Issue Size | IPO Doc |
|---|---|
| 1114.72Cr | RHP PDF |
Subscription rate
As of 18 Nov'24, 04:00 PM
| Qualified Institutional Buyers | 2.53x |
| Non-Institutional Investor | 0.20x |
| Retail Individual Investor | 1.49x |
| Employees | 9.20x |
| Total | 1.69x |
About Zinka Logistics Solution
Founded in
2015
Managing director
Mr. Rajesh Kumar Naidu Yabaji
Parent organisation
Zinka Logistics Solutions Ltd
Strengths & Financials of Zinka Logistics Solution
Strengths
Risks
BlackBuck claims that as of March 31, 2024, the company had 963,345 truck operators across India using the company’s platform for transactions.
As of March 31, 2024, BlackBuck's products and services were available in 628 districts, covering 80% of India's districts, including all major transportation hubs and 75% of the toll plaza network nationwide.
BlackBuck facilitates financing for used commercial vehicles, and by March 31, 2024, the company had disbursed 4,035 loans, totalling Rs 196.79 crore.
Truck operators use BlackBuck’s telematics services for tracking vehicles and monitoring fuel usage. In FY24, the platform had 356,050 average monthly active telematics devices in use.
To attract and engage customers, BlackBuck claims to have employed digital marketing, targeted app notifications, and 9,395 ground-based touchpoints (as of March 31, 2024) to support new customer acquisition and promote additional services to existing customers.
The company recorded a consistent increase in revenue from operations in the past few years. Revenue from operations increased from Rs 119.33 crore in FY22 to Rs 175.68 crore in FY23 to Rs 296.92 crore in FY24.
The company suffered consistent losses in the past few years. Loss after tax was Rs 284.56 crore in FY22, Rs 290.50 crore in FY23, and Rs 193.95 crore in FY24.
BlackBuck’s revenue depends majorly on key business partners for its payments and vehicle financing services, such as OMC Partners and FASTag partner banks. These partners contributed Rs 126.20 crore (42.50%), Rs 84.85 crore (48.30%), and Rs 76.34 crore (63.98%) in FY24, FY23, and FY22, respectively, to the revenue from operations. Vehicle financing partners contributed Rs 8.18 crore (2.75%) and Rs 0.44 crore (0.25%) in FY24 and FY23, respectively, to the revenue from operations. Any loss of any of these major partners or a decrease in business from them can adversely affect the company’s operations and finances.
A substantial portion of the company’s revenue is generated from its payments and telematics services. They accounted for Rs 280.69 crore (94.53%) in FY24, Rs 170.80 crore (97.22%) in FY23, and Rs 117.72 crore (98.65%) in FY22. Any adverse developments, such as regulatory changes, payment method changes, or electronic toll collection changes, can adversely affect the company’s operations and revenue generation capabilities.
BlackBuck depends on specific suppliers for a majority of its vehicle tracking solutions. Any disruption in supplier relationships or the supply chain can negatively affect business operations and financial performance.
The company, its promoters, and its directors are involved in certain ongoing legal proceedings. Any adverse judgments in any of these cases could be detrimental to the company’s business prospects.
As of May 31, 2024, BlackBuck’s consolidated outstanding debt stood at Rs 134.73 crore. Any inability to repay or service these loans could hurt the company’s financial standing.
Zinka Logistics Solution Financials
*All values are in Rs. Cr
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Application Details of Zinka Logistics Solution IPO
| Apply as | Price band | Apply Range |
|---|---|---|
| Regular | ₹259 - 273 | Upto ₹2 Lakh |
| Employee | ₹234 - 248 | Upto ₹2 Lakh |
| High Networth Individual | ₹259 - 273 | ₹2 - 5 Lakh |
For Zinka Logistics Solution IPO, eligible investors can apply as Regular & Employee.