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  1. Zinka Logistics shares recover after falling up to 4% amid block deal reports; check details

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Zinka Logistics shares recover after falling up to 4% amid block deal reports; check details

Upstox

2 min read | Updated on June 03, 2025, 10:13 IST

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SUMMARY

Zinka Logistics Solutions shares slipped over 4% on the back of news reports that Quickroutes International was likely to divest a 9% stake in the company through a block deal on May 3, with the intention of raising approximately ₹647 crore.

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Shares of Zinka Logistics Solutions Ltd listed with a premium of nearly 3% against the issue price of ₹273 in November 2024. | Image: Shutterstock

Shares of Zinka Logistics Solutions Ltd listed with a premium of nearly 3% against the issue price of ₹273 in November 2024. | Image: Shutterstock

Zinka Logistics share price: Shares of Zinka Logistics slipped as much as 4% to ₹420 apiece on the NSE on Tuesday, June 3, amid news reports that a large deal took place today.

However, the stock recovered later. Last seen, the scrip was trading at 436.45, down 0.27%.

According to a report by CNBC TV18, Quickroutes International was likely to divest a 9% stake in Zinka Logistics Solutions Ltd, a digital platform for truck operators, through a block deal today, aiming to raise approximately ₹647 crore.

The floor price for the sale was set at ₹405 per share, the report added.

Shares of Zinka Logistics Solutions Ltd listed with a premium of nearly 3% against the issue price of ₹273 in November 2024.

The stock made its debut at ₹279.05, up 2.21% from the issue price on the BSE. On the NSE, the stock listed at ₹280.90, climbing 2.89%.

The initial public offering of Zinka Logistics Solutions Ltd got subscribed 1.86 times on the last day of bidding.

The share sale had a price range of ₹259-₹273 apiece.

The IPO had a fresh issue of shares worth ₹550 crore and an offer-of-sale (OFS) of up to 2.06 crore shares.

About Zinka Logistics

Zinka Logistics is dedicated to transforming the trucking industry in India by digitally empowering truck operators to manage their businesses and increase their earnings.

The company's BlackBuck app serves as a comprehensive platform, providing solutions for payments, telematics, load management and vehicle financing.

The company partners with FASTag banks and multiple oil marketing companies (OMCs) to offer efficient and secure tolling and fuelling solutions, generating revenue through commission margins based on transaction values.

With inputs from PTI
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Upstox
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