New IPO Alert: Zinka Logistics Solutions Limited (BlackBuck)

Zinka Logistics Solutions Limited, known for its brand BlackBuck, is launching its Initial Public Offering (IPO) on November 13, 2024. The IPO will be open for subscription until November 18, 2024, providing investors with a fresh opportunity to invest in the logistics sector.

Here’s a detailed breakdown of the Zinka Logistics IPO, including offer details, bid information, and key dates.

IPO Offer Period

• Bid/Offer Opens On: Wednesday, November 13, 2024
• Bid/Offer Closes On: Monday, November 18, 2024
• Anchor Investor Bidding Date: Tuesday, November 12, 2024

Issue Details

• Fresh Issue: Up to ₹550 Crores of Equity Shares
• Offer for Sale: 20,685,800 Equity Shares
• Issue Size: ₹1,086 – ₹1,115 Crores
• Face Value: ₹1 per share
• Price Band: ₹259 – ₹273 per share
• Bid Lot: 54 shares and multiples thereof
• Post-Issue Implied Market Cap: ₹4,599 Crores – ₹4,818 Crores

Investment Categories and Bid Details

• Retail Category:
  • Minimum Bid Lot (Shares): 54 shares
  • Minimum Bid Lot Amount: ₹14,742 (Lower Price Band)
  • Number of Applications for 1x: 75,572 applications
• Non-Institutional Investors (NII)
  • NII Bid Between ₹2 to 10 Lakhs: 756 shares
  • Minimum Bid Lot Amount: ₹2,06,388
  • Number of Applications for 1x: 2,699 applications
  • NII Bid Above ₹10 Lakhs: 3,672 shares
  • Minimum Bid Lot Amount: ₹10,02,456
  • Number of Applications for 1x: 5,398 applications

Reservation and Allocation Breakdown

• Employees Reservation: Up to 26,000 equity shares, aggregating up to ₹0.61 – ₹0.64 Crores, with a discount of ₹25 per share.
• Qualified Institutional Buyers (QIB): 75% of the net offer, approximately 3,14,23,374 – 3,06,06,526 shares, valued at ₹813.87 – ₹835.56 Crores.
• Non-Institutional Investors (NII): 15% of the net offer, approximately 62,84,674 – 61,21,305 shares, valued at ₹162.77 – ₹167.11 Crores.
  • NII Bid Above ₹10 Lakhs: Approximately 41,89,783 – 40,80,870 shares (₹108.52 – ₹111.41 Crores)
  • NII Bid Between ₹2 to 10 Lakhs: Approximately 20,94,891 – 20,40,435 shares (₹54.26 – ₹55.70 Crores)
• Retail Investors: 10% of the net offer, approximately 41,89,783 – 40,80,870 shares, valued at ₹108.52 – ₹111.41 Crores.

Book Running Lead Managers (BRLM)

• Axis Capital
• Morgan Stanley
• JM Financial
• IIFL Capital

Registrar: KFin Technologies Ltd

Listing: BSE and NSE

Indicative Post-Issue Timeline

• Finalization of Basis of Allotment: On or about November 19, 2024
• Initiation of Refunds/Unblocking of Funds: On or about November 20, 2024
• Credit of Equity Shares to Demat Accounts of Allottees: On or about November 20, 2024
• Listing of Equity Shares on Stock Exchanges: On or about November 21, 2024

Note: Applications made using third-party UPI or ASBA bank accounts are likely to be rejected.

The Zinka Logistics Solutions Limited IPO offers an interesting investment opportunity in the logistics sector with a defined timeline and detailed reservation structure. Investors interested in this IPO can review the above details and make an informed decision.

Tags: Zinka Logistics IPO, BlackBuck IPO, Zinka Logistics Solutions Limited IPO Details, IPO Timeline, Logistics Sector IPO