Zinka Logistics raises ₹501 crore from anchor investors: Here are key things to know about the IPO ahead of launch

3 min read | Updated on November 13, 2024, 09:13 IST

SUMMARY

Zinka Logistics Solutions Ltd, India's largest digital platform for truck operators, is launching a ₹1,115 crore IPO from November 13 to 18, 2024. The company offers services like telematics, vehicle financing, and a marketplace for loads via its BlackBuck app.

Incorporated in 2015, Zinka Logistics Solutions Limited is largest digital platform for truck operators

Zinka Logistics Solutions, a digital platform for truck operators, mobilised over ₹501 crore from anchor investors on Tuesday, a day before its initial share-sale opening for public subscription.

The company allotted 1.84 crore equity shares to 26 funds at ₹273 a piece, which is also the upper end of the price band. This aggregates the transaction size to ₹501.33 crore.

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According to a circular uploaded on BSE's website, the anchor investors are SBI Mutual Fund (MF), Bandhan MF, Invesco MF, ICICI Prudential Life Insurance Company, Nomura, Steadview Capital Mauritius, TIMF Holdings, and Hornbill Orchid India Fund.

₹1,115 crore IPO will be available for public subscription from November 13 to 18 at a price range of ₹259-273 apiece and lot size of 54 shares.

Zinka Logistics Solutions IPO issue size is ₹1114.72 crore, comprising fresh issue, aggregating to ₹550 crore, and an offer for sale, aggregating to ₹564.72 crore. The money raised from the issue will be utilised to fund sales and marketing costs, invest in its NBFC subsidiary, fund product development expenditure, and for general corporate purposes. Its shares will be listed on the NSE and BSE.

Incorporated in 2015, Zinka Logistics Solutions Limited is India’s largest digital platform for truck operators as of FY24.

It operates the BlackBuck app and offers payments, telematics, a loads marketplace, and vehicle financing services to truck operators. It provides tolling solutions in partnership with FASTag partner banks and fuelling solutions in partnership with multiple oil marketing companies (OMCs). It also offers real-time visibility into fleet movements, matches truck operators with load shippers, and offers financing solutions to buy used commercial vehicles.

The company generates its revenue through commissions from FASTag Bank partners and OMCs in fueling transactions. It also generates revenue from monthly or annual subscription fees for its telematics solutions and service fees from our vehicle financing offering.

Between FY22 and FY24, it saw a CAGR rise of over 35% in its revenue from operations. However, it has consistently incurred losses amassing ₹284 crore, ₹290 crore, and ₹193 crore in FY22, FY23, and FY24, respectively. Nevertheless, the Indian trucking sector is a $18 to $25 billion revenue pool in FY24 and is expected to reach $35 billion by FY28, which could indirectly benefit the company.

To know more about IPO listing, schedule and upcoming IPOs, click here

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About The Author

Sreenivas Ajankar is a Deputy Editor at Upstox. He has over nine years of experience in capital markets and has been associated with Upstox since April 2022. Previously, he worked as a Lead Equity Analyst. His primary expertise lies in equity research and analysis. His areas of expertise include stock investment and analysis and business valuation.

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