Zinka Logistics shares are set to debut on the stock market today. Ahead of the listing, the stock’s grey market premium (GMP) was reported at Rs 0, suggesting that it might list at or slightly below its issue price of Rs 273 per share.
The IPO had a lukewarm response, being subscribed nearly twice by investors. GMP values are often seen as an early indicator of market sentiment but can change quickly and are not always reliable for predicting listing performance.
Key Highlights About Zinka Logistics
Zinka Logistics, known for its innovative BlackBuck app, aims to revolutionize India’s trucking industry by providing digital solutions to truck operators. The app helps operators with:
- Managing toll and fuel payments
- Tracking drivers and fleets through telematics
- Finding loads via an integrated marketplace
- Accessing loans to buy used vehicles
The app has seen strong engagement in FY24, with truck operators using it for an average of 16 days each month and spending nearly 40 minutes daily on the platform.
Financial Performance
In FY24, Zinka Logistics processed transactions worth Rs 17,396.19 crore on its payments platform, covering key truck operator expenses like fuel and tolls.
The company’s revenue grew by 69%, rising from Rs 175.68 crore in FY23 to Rs 296.92 crore in FY24. This growth was driven by an increase in active monthly truck operators and higher income from commissions, subscriptions, and services.
Anchor Investment and IPO Details
Before the IPO launch, Zinka Logistics raised Rs 500 crore from anchor investors, including Nomura, Steadview Capital Mauritius, and Florida Retirement System, among others.
While the IPO has generated interest, its actual market performance will depend on investor sentiment and broader market trends post-listing.
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