BlackBuck is launching an IPO valued at Rs 1,114.72 crores as a book-built issue, featuring a fresh issue of 2.01 crore shares totaling Rs 550.00 crores and an offer for sale of 2.07 crore shares worth Rs 564.72 crores.
The IPO opens for subscription on November 13, 2024, and closes on November 18, 2024. The allotment of shares is expected to be finalized by Tuesday, November 19, 2024. BlackBuck shares are scheduled to list on both BSE and NSE, with a tentative listing date set for Thursday, November 21, 2024.
BlackBuck operates in the logistics technology sector. They provide a digital platform tailored for truck operators, offering services like payments, telematics, a freight marketplace, and vehicle financing. Their platform connects companies looking to ship goods with truckers, making logistics operations more efficient.
The price band for the IPO is set between ₹259 and ₹273 per share, with a minimum application lot size of 54 shares. Retail investors need to invest at least ₹14,742. For sNII, the minimum investment requirement is 14 lots (756 shares), totaling ₹206,388, while for bNII, it is 68 lots (3,672 shares), amounting to ₹1,002,456. Additionally, the issue includes a reservation of up to 26,000 shares for employees, offered at a discount of Rs 25 to the issue price.
Axis Capital Limited, Morgan Stanley India Company Pvt Ltd, JM Financial Limited, and IIFL Securities Ltd are the book-running lead managers for the BlackBuck IPO, with KFin Technologies Limited serving as the registrar.
BlackBuck IPO Details:
| Company Name | Zinka Logistics Solution Limited |
| Sector | Logistics Technology |
| IPO Type | Mainboard |
| IPO Open date | 13th Nov 2024 |
| IPO Close date | 18th Nov 2024 |
| OFS | |
| Listing Exchanges | NSE, BSE |
| Share Holding Pre-issue | |
| DRHP Draft Prospectus | Click to check |
| RHP Draft Prospects | Click to check |
BlackBuck IPO Lot Size:
| Application | Lot Size | Shares | Amount |
| Retail (Min) | 1 | 54 | 14,742 |
| sHNI (Min) | 14 | 756 | 2,06,388 |
| bHNI (Min) | 68 | 3672 | 10,02,456 |
BlackBuck IPO Timeline:
| IPO Open Date | 13th Nov 2024 |
| IPO Close Date | 18th Nov 2024 |
| Basis of Allotment | 19th Nov 2024 |
| Refund Initiation Date | 20th Nov 2024 |
| Shares Credit to Demat | 20th Nov 2024 |
| Listing Date | 21st Nov 2024 |
Things to Consider before applying for an IPO
Financial Performance: Review BlackBuck’s Financials to understand its revenue, profitability, and growth prospects.
Industry Outlook: Consider the overall health of India’s Logistics Technology Industry.
Valuation: Compare the price band to similar companies in the industry to see if the IPO is priced fairly.
Management Team: Research the experience and capabilities of the management team.
Our Verdict
This IPO offers a good opportunity to invest in BlackBuck and be a part of its growth.
FAQ
What is Grey Market Premium (GMP)?
The Grey Market Premium (GMP) represents the price at which an Initial Public Offering (IPO) is traded in the unregulated grey market before its official listing. It serves as an indicator of how the IPO might perform on the listing day. Seeing the latest GMP, investors can estimate the listing performance of the IPO.
