Tue Nov 19 07:43:12 UTC 2024: ## Zinka Logistics IPO Closes Undersubscribed, Allotment Due Tuesday

**Mumbai, November 18, 2024** – Zinka Logistics Solutions, a Bengaluru-based digital platform for truck operators, concluded its initial public offering (IPO) today with a muted response from investors. The IPO, which offered shares at ₹259-273 per share, raised ₹1,114.72 crore but was subscribed only 1.86 times overall.

While the Qualified Institutional Bidders (QIBs) portion was subscribed 2.76 times and the employee portion saw an impressive 9.88 times subscription, the Non-Institutional Investors (NIIs) segment was significantly undersubscribed at only 24%. The retail investor portion saw a 1.66 times subscription.

The company is expected to finalize the basis of allotment on Tuesday, November 19th, with applicants receiving updates on their application status by Thursday, November 21st. The shares are set to list on the BSE and NSE on Friday, November 22nd.

The grey market premium (GMP), an unofficial indicator of expected listing price, has fallen to zero, suggesting a potentially lackluster market debut. This contrasts sharply with the ₹24 GMP observed before bidding began.

Despite a positive outlook from some brokerages citing market leadership and growing demand for digital logistics services, concerns regarding negative cash flows, losses, and high valuations could impact investor sentiment.

Investors can check their allotment status on the BSE website (https://www.bseindia.com/investors/appli_check.aspx) or the KFin Technologies portal (https://kosmic.kfintech.com/ipostatus).

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