Zinka Logistics Solution, also known as BlackBuck, had a subdued launch on the stock exchanges on Friday, November 22. It debuted on the NSE at ₹280.90, showing a 2.89% premium over its ₹273 issue price, and on the BSE at ₹279.05, marking a 2.22% increase.
Zinka Logistics Solution Ltd IPO Day 3 subscription status revealed 1.86 times overall subscription. Qualified Institutional Buyers (QIBs) subscribed 2.76 times, Non-Institutional Investors 0.24 times, Retail Individual Investors (RIIs) 1.66 times, while employees showed significant interest, subscribing 9.88 times to the issue.
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Founded in April 2015, Zinka Logistics Solution Limited operates the BlackBuck app, a digital platform for truck operators. In FY 2024, 963,345 truck operators utilised the app, representing 27.52% of Indian truck operators. The platform facilitates payments, telematics, and vehicle financing, processing a Gross Transaction Value of Rs. 173,961.93 million as of March 31, 2024.
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Zinka Logistics Solutions Ltd’s IPO aims to boost sales, marketing, and product development, invest in its NBFC, and allocate funds for general corporate purposes to foster growth.
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