Wed Nov 13 05:23:41 UTC 2024: ## Zinka Logistics Solution IPO Opens for Subscription: BlackBuck Targets ₹1,114.72 Crore

**Bengaluru-based digital trucking platform Zinka Logistics Solution Limited, better known as BlackBuck, is set to launch its Initial Public Offering (IPO) on Wednesday, November 13th. The IPO, aiming to raise ₹1,114.72 crore, will be open for subscription to all investor groups for a period of three days, ending on November 18th.**

BlackBuck, the largest digital platform for truck operators in India with a user base of 963,345, offers a comprehensive suite of services through its mobile app, including payment solutions, telematics, load marketplace, and vehicle financing. This digital ecosystem empowers truck operators to streamline their operations and manage their businesses efficiently.

**The IPO price band has been fixed at ₹259 to ₹273 per share, with a face value of ₹1.** The issue comprises a fresh issue of 2.01 crore shares worth ₹550 crore and an offer for sale (OFS) of 2.07 crore shares valued at ₹564.72 crore by existing shareholders and promoters.

The company’s consolidated revenue from continuing operations witnessed a significant surge of 69.01% in fiscal 2024, reaching ₹296.92 crore, compared to ₹175.68 crore in fiscal 2023. This growth can be attributed to the increasing number of transacting truck operators and the consequent rise in commission income, subscription fees, and service fees.

**The IPO proceeds will be utilized for various purposes, including financing sales and marketing expenses, expanding the capital base of its NBFC subsidiary Blackbuck Finserve Private Ltd., product development, and general corporate purposes.**

**Investors can participate in the IPO with a minimum investment of ₹14,742 for retail investors and ₹1,002,456 for big NIIs. The allotment is expected to be finalized on November 19th, with listing scheduled for November 21st on both BSE and NSE.**

Despite a strong performance in the grey market, indicating positive investor sentiment, potential investors should carefully consider the risks associated with the company’s business model, including dependence on a few key providers for vehicle tracking solutions and exposure to financial risks within its finance business.

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