Zinka Logistics Solution Limited (BlackBuck) IPO

Mainboard Allotment Out

Offer Date: Nov 13, 2024 - Nov 18, 2024

₹ 14742 /54 Shares

Check Allotment

Zinka Logistics Solution (BlackBuck) IPO Live Subscription Details

Date

18 Nov 2024,05:00:00 PM

QIBs

2.76

NII

NII (bids above ₹10L): 0.18x
NII (bids below ₹10L): 0.36x
NII Total: 0.24

Retail

1.66x

Employee

9.88x

Total

1.86 times

Zinka Logistics Solution (BlackBuck) IPO Details

13 Nov, 2024

Open Date

18 Nov, 2024

Close Date

19 Nov, 2024

Allotment Date

22 Nov, 2024

Listing Date

Issue Price

₹259-273 per equity share

Face Value

₹1 Per Equity Share

Listing at Group

BSE, NSE

Registrar

Kfin Technologies Limited

Market Lot

Retail : 54 Shares (₹14,742/-)
S-HNI : 756 Shares (₹2,06,388/-)
B-HNI : 3,672 Shares (₹10,02,456/-)

Lead Manager

Axis Capital Limited
Morgan Stanley India Company Pvt Ltd
Jm Financial Limited
Iifl Securities Ltd

Issue Size

Total ₹1,114.72 Cr :
#Fresh Issue : 20,146,520 shares(aggregating up to ₹550.00 Cr) +
#OFS : 20,685,800 shares of ₹1(aggregating up to ₹564.72 Cr)

Retail Portion

10% (Number of Retail Applications: 75,572 Approx),
(Number of S-HNI Applications : 2,699 Approx),
(Number of B-HNI Applications : 5,398 Approx)

Subscription

1.86 times

IPO Docs

DRHP RHP ANCHOR

Zinka Logistics Solution (BlackBuck) IPO Subscription Details

As on	QIB	NII bNII sNII	Retail	Total
Shares Offered / Reserved	12,242,611	6,121,305 4,080,870 2,040,435	4,080,870	22,470,786
Day 1 - 13-11-24 05:00 PM	0.26 x	0.02 0.01 x 0.04 x	0.51 x	0.24 x
Day 2 - 14-11-24 05:00 PM	0.26 x	0.04 0.01 x 0.08 x	0.90 x	0.32 x
Day 3 - 18-11-24 05:00 PM	2.76 x	0.24 0.18 x 0.36 x	1.66 x	1.86 x

Total No. of Applications: 1,29,071 (Approx)

Retail Subscription on the basis of Applications: Retail:1.65x BHNI:0.02x SHNI:0.32x times

Zinka Logistics Solution (BlackBuck) Valuations

EPS Pre IPO

-₹12.41/-

EPS Post IPO

₹7.34/-

P/E Pre IPO

-22

P/E Post IPO

-37.2

RoNW

9.39%

Zinka Logistics Solution (BlackBuck) Company Financials All values are in ₹ Cr.

	31-Mar-24	31-Mar-23	31-Mar-22
Assets	654.32	654.25	899.68
Revenue	316.51	195.09	156.13
Profit After Tax	-193.95	-290.5	-284.56

About The Company

Founded in April 2015, Zinka Logistics Solution Limited, popularly known as BlackBuck, is India’s leading digital platform for truck operators. With a mission to transform the trucking industry, BlackBuck empowers operators across India to streamline operations, make payments, access vehicle financing, and manage logistics efficiently—all through a single app.

As of FY2024, BlackBuck connects over 27.5% of India’s truck operators, with an active network of 963,345 users. Through its comprehensive services, BlackBuck processed a substantial Gross Transaction Value (GTV) of Rs 173,961.93 million. The platform leverages technology to offer telematics services, with 356,050 devices enabling real-time tracking and fleet management. It has further availed vehicle financing options for the loans extended, amounting to 4,035 loans and Rs 1,967.88 million, and covered 48 districts in seven states.

Zinka Logistics Solution (BlackBuck) - Strength and Weakness

Strength

It is India’s largest digital platform for truck operators in terms of number of users as of March 31, 2024

The company has a repeatable playbook of creating and launching new offerings as it is focused on addressing challenges faced by truck operators in India by creating innovative solutions.

It has a high growth business with operating leverage and strong unit economics due to its asset-light business model which is based on offering services to truck operators, and generates revenue through platform fees, subscription fees and commissions.

Weakness

The company and its subsidiary TZF Logistics Solutions Private Limited have incurred losses and witnessed negative operating cash flows in the past.

It depends on certain key suppliers to procure a significant portion of its vehicle tracking solutions. Any loss of the relationship could adversely affect the company’s business.

Zinka Logistics added that its operations may be affected by fluctuations in the road transportation industry and fuel prices.

Zinka Logistics Solution (BlackBuck) - Promoter(s)

Pre Issue Share Holding: 32.91%

Post Issue Share Holding: 27.84%

Company Promoter(s)

Rajesh Kumar Naidu Yabaji
Chanakya Hridaya
Ramasubramanian Balasubramaniam

Zinka Logistics Solution (BlackBuck) IPO - Issue Objectives

Funding towards sales and marketing costs
Investment in Blackbuck Finserve Private Limited, its NBFC subsidiary, for financing the augmentation of its capital base to meet its future capital requirements
Funding of expenditure about product development
General corporate purposes.

Zinka Logistics Solution (BlackBuck) IPO - Anchor Investors

Zinka Logistics Solutions IPO, institutional investors buy Rs 501 crore in shares via anchor book.

Marquee institutional investors acquired shares in the company via anchor book are Nomura, Hornbill Orchid India Fund, Steadview Capital Mauritius, TIMF Holdings, Florida Retirement System, Massachusetts Institute of Technology, Carmignac Portfolio, BNP Paribas Funds, Pinebridge Global Funds, and Societe Generale.

Additionally, SBI Mutual Fund, Invesco India, Bandhan Mutual Fund, ICICI Prudential Life Insurance, Ashoka Whiteoak, SBI General Insurance, and Nuvama Multi Asset Strategy Return Fund among domestic institutional investors also invested in Zinka

Other Details

Company Contact Details

Zinka Logistics Solution (BlackBuck)

Vaswani Presidio, no. 84/2, II Floor, Panathur Main Road, Kadubeesanahalli, Off Outer Ring-Road, Bengaluru 560103

Phone: +91 8046481828

Email: cs@blackbuck.com

Website: https://www.blackbuck.com/

Registrar Contact Details

Kfin Technologies Limited

Phone: 04067162222, 04079611000

Email: zinka.ipo@kfintech.com

Website: https://kosmic.kfintech.com/ipostatus/

Zinka Logistics Solution (BlackBuck) IPO - FAQs

Ans. Zinka Logistics Solution Limited (BlackBuck) IPO is a Mainboard IPO. The issue is priced at ₹259-273 per equity share. The minimum order quantity is 54 Shares. The IPO opens on Nov 13, 2024, and closes on Nov 18, 2024. Kfin Technologies Limited is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.

Ans. The Zinka Logistics Solution Limited (BlackBuck) IPO opens on Nov 13, 2024 and closes on Nov 18, 2024.

Ans. The size of Zinka Logistics Solution Limited (BlackBuck) IPO is Total ₹1,114.72 Cr : #Fresh Issue : 20,146,520 shares(aggregating up to ₹550.00 Cr) + #OFS : 20,685,800 shares of ₹1(aggregating up to ₹564.72 Cr).

Ans. The IPO price band is set between ₹259-273 per equity share.

Ans. To apply for Zinka Logistics Solution Limited (BlackBuck) IPO IPO, follow the steps given below:

- Open the IPO Ji App or Website
- Find Zinka Logistics Solution Limited (BlackBuck) IPO in the List of IPOs
- Press "Apply" Button
- Select Your Demat Account
- Select Your Shares Quantity and Submit
- Track Your IPO Status

Ans. The share allotment date of Zinka Logistics Solution Limited (BlackBuck) IPO is Nov 19, 2024.

Ans. The Zinka Logistics Solution Limited (BlackBuck) IPO will be listed on Nov 22, 2024.

Ans. Follow the steps to check the allotment status for Zinka Logistics Solution Limited (BlackBuck) IPO here.