Zinka Logistics closed the first day of trading on a lower note. Zinka Logistics Solution hit the exchanges—NSE and BSE—on November 22. The company provides truck operators with an operating platform called BlackBuck. The IPO was opened on November 13 and raised Rs 1,114.72 crore. The issue closed on November 18. The IPO price band ranged between Rs 259 and Rs 273 per equity share.
The issue was a combination of fresh shares and offer for sale. Also, it included an employee reservation of 26,000 shares, which were offered at a discount of Rs 25 to the issue price. Axis Capital, Morgan Stanley India Company, JM Financial, and IIFL Securities were the book-running lead managers of the IPO.
Zinka Logistics Solution: Check IPO share price listing and GMP
Zinka Logistics share price: Zinka Logistics closes 7.4% lower
Shares of Zinka Logistics Solution closed 7.4% lower at Rs 260 on first day of trading. The stock traded mostly on a lower note through out the day. It was listed at a premium of 2.9% at Rs 280.90 on the NSE.
Zinka Logistics share price: Where will be the raised money utilised?
Zinka Logistics Solution's stocks extended loss. The stock fell as much as 9% to an intra-day low of Rs 255.35. The stock was listed at a premium of 2.9% at Rs 280.90.
Zinka Logistics share price: About Zinka Logistics
Zinka Logistics Solution offers a digital platform, the BlackBuck app, for truck operators. In FY24, more than 9.6 lakh truck operators in the country conducted their business through the platform, representing 27.52% of all Indian truck operators.
Zinka Logistics share price: BlackBuck's strength
Zinka Logistics share price: Lower band placed at Rs 224.75
The lower band for the stock of Zinka Logistics Solution is placed at Rs 224.75 while the upper band for the stock is placed at Rs 337.05, which is 20% of the opening price of the stock.
Zinka Logistics share price: Zinka Logistics trade 6% lower
Shares of Zinka Logistics Solution trades over 6% lower on the National Stock Exchange at Rs 263.65. The stock fell as soon as it was listed on the bourses. BalckBuck's stock dropped over 7% to an intra-day low of Rs 260.20.
Zinka Logistics share price: Lists at premium of 2.9%
Shares of Zinka Logistics, which is better known as BlackBuck, were listed at Rs 280.90 on the National Stock Exchange. The GMP was indicating a muted listing.