BlackBuck IPO - Day 3 Subscription at 0.39 Times

BlackBuck's initial public offering (IPO) has received moderate investor interest over the three-day period. The IPO witnessed a gradual improvement in demand, with subscription rates growing from 0.24 times on day one, to 0.32 times on day two, and reaching 0.39 times by 11:41 AM on day three.

Zinka logistics ipo, which opened on 13th November 2024, has seen varied participation across categories. The Employee segment has shown exceptional interest reaching 7.43 times subscription, while Retail investors demonstrated decent participation at 1.23 times. The QIB portion stands at 0.25 times, while NII category shows limited participation at 0.06 times.

This measured response comes amid ongoing sentiment in the Indian stock market, particularly towards technology-driven logistics platforms.
 

Subscription Status of Zinka Logistics IPO (Blackbuck IPO): 

*As of 11:41 AM

Here are the subscription details for BlackBuck IPO as of Day 3 (18th November 2024, 11:41 AM):

Total Applications: 85,084
Note:

• "Shares Offered" and "Total Amount" are calculated based on the upper price of the issue price range.
• The portion of anchor investors is not included in the total shares offered.

Key Highlights:

• Overall subscription reached 0.39 times, showing steady growth in investor interest
• Employee portion showed exceptional interest with 7.43 times subscription
• Retail investors exceeded full subscription at 1.23 times
• QIB portion maintained at 0.25 times subscription
• Non-Institutional Investors (NII) showed limited interest with 0.06 times subscription
• Small Non-Institutional Investors (sNII) at 0.13 times versus bNII at 0.02 times
• Total applications increased to 85,084
• The subscription trend indicates mixed investor sentiment with strong employee confidence

BlackBuck IPO - Day 2 Subscription at 0.32 Times

Key Highlights:

• Overall subscription improved to 0.32 times, showing gradual increase in interest
• Employee portion showed strong momentum reaching 5.37 times subscription
• Retail investors demonstrated improved participation with 0.92 times subscription
• QIB portion remained steady at 0.25 times subscription
• Non-Institutional Investors (NII) showed minimal interest at 0.04 times
• Total applications increased significantly from day one
• The subscription trend indicated building momentum but cautious investor sentiment

BlackBuck IPO - Day 1 Subscription at 0.24 Times

Key Highlights:

• Overall subscription reached 0.24 times on the opening day, showing a modest initial response
• Employee portion led with strong 3.25 times subscription
• Retail investors showed decent interest with 0.52 times subscription
• QIB portion started with 0.25 times participation
• Non-Institutional Investors (NII) showed limited interest at 0.02 times subscription
• Total applications reached 15,351 on the first day
• The subscription trend indicated mixed investor response with strong employee participation

About Zinka Logistics Solution Limited (BlackBuck)

Founded in April 2015, Zinka Logistics Solution Limited operates BlackBuck, India's largest digital platform for truck operators. The company has established itself as a comprehensive solution provider in the logistics technology sector through its innovative BlackBuck app platform. In the fiscal year 2024, the platform served 963,345 truck operators, representing 27.52% of all Indian truck operators, offering integrated services including payments, telematics, and a freight marketplace.

The company has demonstrated significant growth in its operations, processing a Gross Transaction Value (GTV) of ₹173,961.93 million in payments as of 31st March 2024. Its telematics service maintains a monthly average of 356,050 active devices, while the vehicle financing division has facilitated 4,035 loans totalling ₹1,967.88 million. The company currently offers vehicle financing services across 48 districts in seven states in India.

BlackBuck's competitive strengths lie in its position as India's largest digital platform for truck operators, supported by an extensive network built over nine years. The company employs a strong multi-channel sales network and effective service strategy to promote customer acceptance. With 4,289 employees as of 31st March 2024, the company operates under an experienced management team, implementing a high-growth business model with operational leverage and strong profitability potential.

Highlights of the BlackBuck IPO

• IPO opens: 13th November 2024
• IPO closes: 18th November 2024
• Allotment date: 19th November 2024
• Listing date: 22nd November 2024
• IPO type: Book Built Issue
• IPO size: ₹1,114.72 crores
• Fresh Issue: ₹550.00 crores (2.01 crore shares)
• Offer for Sale: ₹564.72 crores (2.07 crore shares)
• Face value: ₹1 per share
• Price band: ₹259 to ₹273 per share
• Lot size: 54 shares
• Minimum investment for retail investors: ₹14,742
• Minimum investment for sNII: ₹206,388 (14 lots)
• Minimum investment for bNII: ₹1,002,456 (68 lots)
• Employee Discount: ₹25 per share
• Listing at: BSE, NSE
• Lead Managers: Axis Capital, Morgan Stanley India, JM Financial, IIFL Securities
• Registrar: Kfin Technologies Limited