Zinka Logistics IPO Allotment Today: Latest GMP And How To Check Status Online?

The initial public offering (IPO) of Zinka Logistics Solution Ltd., received a lukewarm demand from investors on the last day of bidding as the mainboard issue was subscribed nearly 2 times.

The Rs 1,114.72-crore IPO of the parent company of the Flipkart-backed BlackBuck app was subscribed 1.86 times on Monday. The investors across categories applied for 4,19,57,676 shares as compared to 2,25,67,270 shares on offer.

Employees subscribed to their quota 9.88 times, booking 2,56,878 shares against the 26,000 set aside for them.

The Qualified Institutional Buyers (QIBs) booked their segment 2.76 times by applying for 3,32,68,698 shares against the 1,20,66,813 shares on offer. 

The retail category received bids for 69,41,808 shares compared to 41,89,783 shares on offer. The retail portion was subscribed 1.66 times. The Non-institutional investors (NIIs) applied for 14,90,292 shares against the 62,84,674 shares set aside for them, subscribing to their quota by 24%.

BlackBuck IPO price band was set between Rs 259 and Rs 273 per share. The IPO consists of a fresh issue of shares worth Rs 550 crore and an offer-for-sale (OFS) of up to Rs 565 crore.

BlackBuck IPO share allotment is expected to be finalised on Nov.19. 

KFin Technologies Ltd. is the registrar for the issue. Axis Capital Ltd., Morgan Stanley India Company Pvt., JM Financial Ltd. and IIFL Securities Ltd are the book-running lead managers.

The company's shares are expected to be listed on the BSE and NSE on Nov. 21.  

The investors, who have bid for the BlackBuck IPO, can check the share allotment status on the websites of NSE, BSE and the registrar.

• Visit the IPO allotment page on the BSE website here. 

• Select the issue type as 'Equity.' 

• Select 'Zinka Logistics Solution Limited' from the dropdown menu. 

• Enter your application number or PAN (Permanent Account Number). 

• Complete the 'Captcha' verification.

• Click on the 'Search' option to view your allotment status.

• Visit the official website of the registrar KFin Technologies here

• Select any one server from the five servers available

• Choose Zinka Logistics Solution Limited from the list of companies

• Enter your Application Number, Demat account number or PAN

• Complete the Captcha to verify  

• Click on 'Submit' to view the allotment status

The allotment status can also be viewed by logging into the NSE website.

The grey market premium (GMP) of BlackBuck IPO stood at Rs 0 as of 6 pm on Nov. 18, according to InvestorGain. This indicates a flat listing for Zinka Logistics Solution shares over the issue price. The GMP has fallen from Rs 24 on Nov. 11, which indicated a listing gain of 8.79%.

Note: GMP or grey market price is not an official price quote for the stock and is based on speculation.

Zinka Logistics Solution plans to fund its marketing and sales costs with the fresh proceeds of the IPO. The money will also be used in augmenting the capital base of Blackbuck Finserve Pvt. Ltd., its financing arm. The company will also use a portion of the funds for expenditures on product development and general corporate purposes.

Zinka Logistics Solution, owns the digital trucking and supply chain services platform BlackBuck. The company provides a wide range of logistics solutions, including vehicle financing, fuel cards, FASTag services, and a marketplace that links truck operators with businesses for transportation services. Founded in 2015, BlackBuck achieved unicorn status in 2021 after raising over $350 million. 

Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read red herring prospectus thoroughly before placing bids.