Zinka Logistics Solution IPO, which is a mainboard issue designed to raise Rs 1,114.72 crore from investors has been able to garner a subscription level of 0.97 times, according to reports on the morning of November 18, the last day of bidding. According to reports, the last recorded application was for 22,470,786 shares which represent 0.32% of the total 72,40,212 shares on offer. The total application money amounted to Rs 197.66 core out of the Rs 1,114.72 crore that the management targets to mop up.
As stated by the company, the IPO proceeds will be used to fund marketing and sales operations, investment in an NBFC (non-banking financial company) subsidiary and product development. By the way, Zinka Logistics Solution IPO is also being referred to as BlackBuck IPO following the name of the app that the company developed.
Zinka Logistics Solution IPO GMP
The Zinka Logistics Solution IPO GMP was at Rs 0 on the morning of November 18, 2024. Investorgain reveals that the Grey Market Premium (GMP) of Zinka Logistics Solution IPO was at 0. The GMP failed to rise from the level of this level from where it languished from the first day of the bidding process, November 13. On November 9-11, it was at Rs 24. The GMP came down from that level and never recovered to the positive zone. However, GMP is an unofficial estimate which changes with time and it does not guarantee anything, listing gain or listing loss.
Zinka Logistics Solution IPO (BlackBuck IPO) review
As many as 6 analysts/stock brokers – Adroit Financial Services Private, Anand Rathi, Arihant Capital Markets, Canara Bank Securities, Master Capital Services, Marwadi Shares and Finance — have signalled “Apply” to Zinka Logistics Solutions IPO. Dilip Davda assigned “May Apply”, while Swastika Investmart has maintained a “Neutral” stance. Axis Capital and JM Financial Institutional Securities did not rate it.
Zinka Logistics Solution price band, allotment
Each share of Zinka Logistics Solution IPO is priced at Rs 259-273. The minimum investible lot comprises 54 shares, which cost Rs 14,742 from a retail investor. The allotment of shares will be finalised on November 19. Shares are to be listed on November 21 on both NSE and BSE.
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Zinka Logistics IPO: This Bangalore-based software company is successfully running an app known as BlackBuck for operation of truck fleets which has already become popular in India. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
