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Zinka Logistics IPO subscribed 1.86 times on final day
Economic Times
·
8m ago
Medial
Zinka Logistics, the parent company of BlackBuck, successfully completed its IPO, with bids for 1.86 times the shares on offer. The IPO received bids for 4.19 crore shares against 2.25 crore shares available. The IPO consists of a fresh issue of shares worth Rs 550 crore and an offer-for-sale of up to Rs 565 crore. The shares will be listed on November 21. BlackBuck, a trucking aggregator, raised Rs 501 crore from anchor investors before the IPO. The company plans to allocate 20% of the IPO proceeds to its financial services subsidiary.
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Related News
BlackBuck parent Zinka Logistics lists at over 2% premium over IPO price
YourStory
·
8m ago
Medial
Zinka Logistics, the parent company of BlackBuck, had a successful debut on the stock exchanges as its shares opened at Rs 280.09, a 2.89% increase from its issue price. The grey market premium for the company's shares was flat, indicating modest demand. Zinka's IPO was subscribed 1.85 times on its final day, after lackluster bidding in the preceding days. The company managed to reduce its losses by 33% in the last fiscal year while experiencing a 69% increase in operating revenue. As of 10:06 AM on Friday, Zinka's shares were trading at Rs 282.1 apiece.
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Blackbuck IPO sails through on final day
Economic Times
·
8m ago
Medial
Zinka Logistics, the parent company of BlackBuck, a trucking aggregator backed by Flipkart, successfully completed its initial public offering (IPO) with oversubscription. The IPO received bids for over 3.52 crore shares against the 2.25 crore shares on offer. Qualified institutional buyers bid 1.80 times their reserved portion, while retail investors subscribed 1.46 times. Employee bids reached 9.11 times, but non-institutional investors subscribed only 0.18 times. BlackBuck reported a 68% increase in revenue and a decrease in net loss for FY24.
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Travel Food Services IPO subscribed 27% on day 3; check GMP, and other details
Economic Times
·
1m ago
Medial
The Travel Food Services IPO was subscribed 27% on its final day, attracting a muted response from investors. The retail portion saw a 31% subscription, while non-institutional investors subscribed 28%, and qualified institutional buyers subscribed 19%. The IPO, which included no fresh equity, had a grey market premium suggesting a modest listing gain. The company raised Rs 599 crore from anchor investors and operates India's largest airport food and lounge network.
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Accel-backed BlackBuck's parent reins in losses by 33% in FY24
YourStory
·
10m ago
Medial
- Zinka Logistics, the parent company of BlackBuck, reduced its losses by 33% to Rs 193.9 crore in FY24 compared to the previous year. - Operating revenue for Zinka Logistics increased by 69% to Rs 296.9 crore in FY24 from Rs 175.6 crore in 2023. - The reduced losses were overshadowed by an 11% rise in total expenses to Rs 483.4 crore, mainly due to employee benefit expenses. - BlackBuck received final observation from SEBI for its IPO, with plans to raise Rs 550 crore through a fresh issue of shares and an offer for sale of 21.6 million shares by existing shareholders. - Accel India IV (Mauritius) fund and Accel Growth Fund V LP fund are among the existing shareholders planning to sell their shares through the IPO.
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Zinka Logistics' Rs 1,115-Cr IPO to open on Nov 13; sets price band at Rs 259-273 a share
YourStory
·
9m ago
Medial
Zinka Logistics Solutions Ltd, a digital platform for truck operators, has set a price range of Rs 259-273 per share for its Rs 1,115 crore initial public offering (IPO). The IPO, which includes a combination of fresh shares and an offer for sale, will be open for subscription from November 13 to November 18. The company plans to use the proceeds from the IPO for various purposes, including sales and marketing initiatives, investment in Blackbuck Finserve, product development, and general corporate needs. Zinka Logistics aims to empower truck operators in India through its comprehensive digital platform, the BlackBuck app.
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Ather Energy's $352-mn IPO crosses finish line on final day of bidding
VCCircle
·
3m ago
Medial
Electric scooter-maker Ather Energy's $352-million IPO was fully subscribed on the final bidding day, indicating positive investor interest despite market volatility. The company seeks a $1.4 billion valuation through this offering, marking India's third-largest this year. The IPO saw significant participation from qualified institutional buyers and retail investors. Analysts view Ather's IPO as pivotal for India's IPO market. Funds raised will support the construction of a third factory and continued research and development.
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BlackBuck IPO: Issue Subscribed 53% On Final Day So Far
Inc42
·
8m ago
Medial
On November 18, BlackBuck reported that 53% of its shares have been subscribed in its IPO. Investors bid for a total of 1.20 crore shares out of the 2.24 crore shares on offer. Additionally, employee shares received an oversubscription of 8.40x, with bids for 2.18 lakh shares against the reserved 26,000 shares. Despite this, the response from qualified institutional buyers and non-institutional investors remained on the bearish side during the final day of the IPO.
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Mobikwik IPO subscribed 17 times, driven by retail investors
Economic Times
·
7m ago
Medial
Digital payment application Mobikwik's initial public offering (IPO) has been subscribed 17 times at the end of the second day. The retail portion was subscribed 58 times, while the non-institutional portion was booked 22 times. Institutional buyers are yet to fully subscribe to their reserved shares. Mobikwik aims to raise Rs 572 crore through the IPO. The company raised Rs 257.4 crore from anchor investors, including Peak XV Partners, ADIA, and American Express. In FY24, Mobikwik reported an operating revenue of Rs 875 crore, a 62% increase from the previous year.
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Glen Industries IPO GMP at 31% as issue gets subscribed over 6 times on day 2, so far
Economic Times
·
1m ago
Medial
Glen Industries' IPO, with a Rs 97 upper price band, saw a grey market premium of 31% on its second day, predicting a listing at Rs 127. The IPO was subscribed over six times, with notable demand from Retail Individual Investors. The company, which produces eco-friendly packaging, plans to use IPO funds for a new manufacturing facility in West Bengal, aiming for a revenue of Rs 1,000 crore by 2030.
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Unicommerce's ₹277-crore IPO fully subscribed on first day
Inshorts
·
1y ago
Medial
SaaS startup Unicommerce eSolutions' ₹276.6-crore IPO was fully subscribed on the first day of the bidding. As of 2:09 pm, the IPO was subscribed 1.58 times, with the retail portion receiving 7.10 times subscription and the non-institutional category receiving 1.07 times subscription. Promoter AceVector Group (formerly Snapdeal) and SoftBank are offloading up to 2.56 crore shares in the IPO.
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