Zinka Logistics Solutions IPO News: If you are thinking of investing in IPO then you have a great opportunity. Zinka Logistics Solutions Limited’s IPO is opening on November 13 and will close on November 18. The price band for the public issue has been fixed at Rs 259-273 per share. Let us tell you all the details about it.
This IPO will be listed on this day
This IPO is a book built issue of Rs 1,114.72 crore. This issue is a combination of a fresh issue of 2.01 crore shares aggregating to Rs 550.00 crore and an offer for sale of 2.07 crore shares aggregating to Rs 564.72 crore. Allotment for this IPO is expected on November 19. This IPO will be listed on BSE, NSE and the listing date is scheduled for November 21. Jinka Logistics IPO lot size is 54 equity shares and then in multiples of 54 equity shares.
Learn more about Jinka Logistics Solutions
Jinka Logistics Solution’s BlackBuck app is a platform that provides payment, telematics, freight marketplace and vehicle financing services to help truck operators achieve their goals. In this, an amount of Rs 140 crore will be used to invest in BlackBuck Finserv, while Rs 75 crore will be used to finance the expenses related to product development and a part will be invested in general company operations. Let us tell you that employees will also get a discount of Rs 25 per equity share in this IPO. The amount of Rs 200 crore raised from the new issue will be used for sales and marketing initiatives. 26,000 equity shares have been reserved for employees.
75 percent of the IPO is reserved for qualified institutional buyers, 10 percent for retail investors and 15 percent for non-institutional investors. Axis Capital Limited, Morgan Stanley India Company Private Limited, JM Financial Limited and IIFL Securities Limited are the book running lead managers for the IPO.
The company will use the money raised from IPO in these places
The promoters of the company are Rajesh Kumar Naidu Yabaji, Chanakya Hriday and Ramasubramanian Balasubramanian. The funds raised by issuing new shares in the IPO will be used for funding sales and marketing costs, investment in NBFC subsidiary Blackbuck Finserve Private Limited, funding product development expenses and for general corporate purposes.
