Zinka Logistics Solution IPO is a mainboard IPO designed to mop up Rs 1,114.72 crore from the markets. However, it has failed to muster full subscription of its issue by the end of November 14, which is the second day of the IPO. The Zinka Logistics Solution IPO subscription level (overall) stood at 0.32 times.
The retail segment of the issue was subscribed 0.92 times, the qualified institutions quota of the Zinka Logistics Solution IPO or BlackBuck IPO was subscribed 0.25 times. The bNII (bids above Rs 10 lakh) was subscribed 0.01 times while the sNII (bids below Rs 10 lakh) was subscribed 0.08 times.
Zinka Logistics Solution IPO GMP
According to investorgain data, the Grey Market Premium (GMP) of Zinka Logistics Solution IPO was at 0 on the first two days of the bidding process – November 13 and 14. But it was not at that level from the beginning but came down from Rs 24 where it was on November 9-11. The GMP of this IPO, in fact, climbed from Rs 8 on November 8 to reach Rs 24 on November 9. But after it slid to 0 it has not been successful in moving to the positive zone. But one must remember that GMP is only an unofficial estimate and is liable to change with time. It does not guarantee anything, listing gain or listing loss.
Zinka Logistics Solution review
Half a dozen analysts and stock brokers have assigned an “Apply” rating to Zinka Logistics Solutions IPO or BlackBuck IPO. These are Adroit Financial Services Private, Anand Rathi, Arihant Capital Markets, Canara Bank Securities, Master Capital Services, Marwadi Shares and Finance. Dilip Davda has rated “May Apply”, Swastika Investmart has maintained a “Neutral” stance while Axis Capital and JM Financial Institutional Securities have not rated the IPO.
Zinka Logistics Solution price band, allotment
The Zinka Logistics Solution IPO, or BlackBuck IPO, price band is Rs 259-273. The minimum investible lot has been fixed at 54 shares, which will need a commitment of Rs 14,742 from a retail investor. The allotment of Zinka Logistics Solution IPO shares will be decided on November 19 and the shares will be listed on November 21 on both NSE and BSE.
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Zinka Logistics Solution’s IPO is also being referred to as the BlackBuck IPO after the popular app for truck operators that this Bangalore-based company has created. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
