Tue Nov 19 12:44:20 UTC 2024: ## Zinka Logistics Solutions IPO Allotment Expected Today; Shares Trade at Issue Price in Grey Market

**MUMBAI, November 19** – Zinka Logistics Solutions Ltd. is expected to finalize the allotment of shares from its recently concluded initial public offering (IPO) today, November 19th. The IPO, which ran from November 13th to 18th, was subscribed 1.86 times overall, raising ₹1,114.72 crore (approximately $135 million USD).

The allotment status can be checked online through the websites of the Bombay Stock Exchange (BSE), the National Stock Exchange of India (NSE), and the registrar, Kfin Technologies. Eligible investors will receive shares in their demat accounts on November 20th, with refunds to unsuccessful applicants issued the same day. The company’s shares are expected to list on both the BSE and NSE on November 21st.

Interestingly, the grey market premium (GMP) for Zinka Logistics Solutions shares is currently ₹0, meaning they are trading at their issue price of ₹273 per share. This suggests a muted market expectation for immediate post-listing gains.

The IPO comprised a fresh issue of ₹550 crore and an offer-for-sale of ₹564.72 crore. The company plans to use the proceeds for sales and marketing, investment in its non-banking financial company (NBFC) subsidiary, product development, and general corporate purposes.

Subscription details revealed a 1.66 times oversubscription in the retail category, 2.76 times in the Qualified Institutional Buyers (QIBs) category, and a relatively weak 0.24 times subscription in the Non-Institutional Investors (NII) category. Axis Capital, Morgan Stanley India Company, JM Financial, and IIFL Securities acted as the book running lead managers for the IPO.

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