The offer consists of fresh issue of equity shares amounting to Rs 550 crore and offer for sale (OFS) by selling shareholders of up to 2,06,85,800 equity shares of the company. Price range.
At the upper end of this price range, the total size of the IPO would be Rs 1,114.72 crore.
The issue will be released to anchor investors on November 12th, a day before it is released to the general public, and will be available until November 18th. Bidding can be made in minimum quantities of 54 weeks and in multiples of 54 weeks.
Under OFS components Rajesh Kumar Naidu Yabaji, Chanakya Hridaya, Ramasubramanian Balasubramaniam, Accel India IV (Mauritius), Quickroutes International, International Finance Corporation, Internet Fund III Pte, Sands Capital Private Growth II, Peak XV Partners Investments VI (formerly SCI Investments) VI) and VEF AB (publ) plan to offload their shares in the company.
More than 75% of the total issuance is reserved for Qualified Institutional Buyers (QIBs), no more than 15% for Non-Institutional Investors (NIIs) and up to 10% for individual investors. Up to 26,000 shares were reserved for employees. Proceeds from the new issuance will be used to fund sales and marketing expenses, investments in Blackbuck Finserve to fund expansion of our capital base to meet future capital requirements, and expenditures related to product development and general corporate purposes. Zinka Logistics is committed to transforming India’s trucking industry by helping truck operators digitally manage their business and increase profits. The company’s innovative BlackBuck app serves as a comprehensive platform offering solutions for payments, telematics, freight management and vehicle financing.
The BlackBuck app, a core part of Zinka Logistics’ products, helps truck drivers manage various aspects of their operations. Through the app, operators can process toll and fuel payments, use telematics to monitor drivers and vehicles, find freight on the market, and access financing for used vehicle purchases.
In fiscal year 2024, the app saw strong engagement, with monthly active truck operators using the app more than 16.18 days per month and spending an average of 39.56 minutes per day on the platform.
Zinka Logistics processed a gross transaction value (GTV) of Rs 17,396.19 crore in FY24. The payment platform handles significant costs for truck drivers, including tolls and fuel costs.
The company’s consolidated revenue from continuing operations increased 69.01% from Rs 175.68 crore in FY23 to Rs 296.92 crore in FY24. This is primarily due to an increase in average monthly transaction truck operators, resulting in increased commission income, subscription fees and commission income. and service fees.
Axis Capital, Morgan Stanley India, JM Financial and IIFL Securities are the bookrunners and KFin Technologies is the offering registrar.
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