Trucking platform Zinka Logistics Options has acquired closing statement from SEBI to boost funds by means of an preliminary public providing (IPO).
It appears to be like to boost ₹550 crore by means of a contemporary problem of shares, with a proposal on the market (OFS) of 21.6 million shares by promoters and present shareholders. The provide additionally features a reservation for a subscription by eligible workers and a reduction is being provided to eligible workers bidding within the worker reservation portion.
The corporate, in session with the book-running lead supervisor, could contemplate a pre-IPO placement not exceeding 20 per cent of the scale of the contemporary problem. If such placement is accomplished, the contemporary problem measurement will likely be lowered.
Use of funds
The proceeds from its contemporary issuance to the extent of ₹200 crore will likely be utilised for funding in direction of gross sales and advertising prices, ₹140 crore for funding in Blackbuck Finserve for financing the augmentation of its capital base to satisfy its future capital necessities, and ₹75 crore for funding of expenditure in relation to product improvement and normal company functions.
Zinka Logistics goals to digitally empower truck operators to handle their companies and enhance their earnings. Its revolutionary BlackBuck app serves as a complete platform, offering options for funds, telematics, load administration and car financing.
The consolidated income from persevering with operations elevated 69.01 per cent to ₹296.92 crore in FY24 in contrast with ₹175.6 crore of the earlier fiscal, it mentioned. The corporate narrowed its EBITDA loss to ₹138.7 crore in FY24 (₹213 crore). In FY24, Zinka Logistics facilitated over 413.34 million transactions from greater than 2.5 lakh customers.
Axis Capital, Morgan Stanley India, JM Monetary, and IIFL Securities are the book-running lead managers and KFin Applied sciences is the registrar of the provide. The fairness shares are proposed to be listed on the BSE and NSE.