Bengaluru-based Zinka Logistics Solution Ltd., a leading digital platform for truck operators, is expected to finalise share allotment status for its initial public offering (IPO) on Tuesday, November 19.
The investors are waiting for the Zinka Logistics Solution IPO allocation details after the mainboard issue closed with a decent demand. The ₹1,115-crore IPO was open for subscription from November 13 to November 18.
The IPO price band was set at ₹259 to ₹273 per share.
Zinka Logistics Solution IPO was subscribed 1.86 times on the last day of bidding on November 18. The Qualified Institutional Buyers (QIBs) led the demand by booking their reserved portion 2.76 times. Retail investors subscribed their quota 1.66 times, while the Non-Institutional Investors (NIIs) booked their category 24%.
Zinka Logistics Solution Ltd., which operates the BlackBuck app for tuckers, has proposed to list its lists on the stock exchanges on November 21. The stock will be listed on the BSE and NSE.
How to check the IPO allotment status
Investors can verify their allotment status on the BSE and NSE websites. The investors can also check the share allocation details on the official website of the IPO registrar, KFin Technologies Ltd.
Steps to check Zinka Logistics Solution IPO allotment status on BSE:
- Visit the IPO allotment page on the BSE website.
- Select ‘Equity’ as the issue type.
- Choose ‘Zinka Logistics Solution’ from the list.
- Enter your application number or PAN.
- Click ‘Search’ to view your status.
Steps to check IPO allotment status on KFin Technologies’ website:
- Go to the KFin Technologies IPO allotment status page.
- Select ‘Zinka Logistics Solution’ from the dropdown.
- Enter your details (PAN, Application Number, DP/Client ID, or Account No/IFSC).
- Click ‘Submit’ to check your status.
Successful applicants will receive shares in their Demat accounts on November 20. Refunds will also be initiated for unsuccessful bidders the same day.
Ahead of the IPO, Zinka Logistics raised ₹501 crore from anchor investors. The mainboard issue comprised a fresh issue of shares worth ₹550 crore and an Offer-for-Sale (OFS) portion of up to 2.06 crore shares.
The company plans to allocate the proceeds worth ₹200 crore for sales and marketing efforts, ₹140 crore for capital infusion into its subsidiary, Blackbuck Finserve Pvt. Ltd, and ₹75 crore for product development. The remaining portion of the IPO proceeds will be utilised for general corporate purposes.
About Zinka Logistics
Incorporated on April 20, 2015, Zinka Logistics Solution Ltd operates the BlackBuck app, a digital platform catering to truck operators. The company commands nearly 27.5% share of India’s trucking sector. Its platform allows truck operators to manage payments for tolls and fuel digitally, track fleets and drivers through telematics, access financing for used vehicle purchases and discover loads through its marketplace.
