Zinka Logistics shares gain 5%; Goldman Sachs sells 2.7% stake for ₹295 crore; check details

Zinka Logistics is the official name of the company that operates the BlackBuck platform, a digital platform for truck operators in India.

US-based Goldman Sachs Asset Management oversees approximately $2.9 trillion in assets under supervision worldwide as of March 31, 2025.

According to the bulk deal data available on the BSE, GSAM Holdings LLC offloaded 49.09 lakh equity shares, representing a 2.74% stake in Zinka Logistics Solutions.

The shares were disposed of at an average price of ₹600.32 apiece, taking the deal value to ₹294.75 crore.

Meanwhile, Nomura India Investment Fund Mother Fund bought 41.16 lakh shares, or nearly a 2.3% stake, in Bengaluru-based Zinka Logistics Solutions for ₹247 crore.

The transaction was valued at around ₹246.90 crore and was executed at an average price of ₹599.77 apiece.

After the latest transaction, Nomura's holding in Blackbuck through its affiliates rose to 3.94% from 1.64%.

The exchange could not ascertain details of the other buyers of Zinka Logistics Solutions' shares.

Zinka Logistics Solutions IPO and listing details

Shares of Zinka Logistics Solutions on November 22, 2024, listed with a premium of nearly 3% against the issue price of ₹273.

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 (IPO) of Zinka Logistics Solutions was 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.

"Proceeds from the fresh issuance to the extent of ₹200 crore will be used for sales and marketing initiatives; ₹140 crore for investment in Blackbuck Finserve for financing the supporting capital base to meet future capital requirements; ₹75 crore for funding of expenditure in relation to product development; and a portion will be used for general corporate purposes," the company had said.

Zinka Logistics, the company says, 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.