Zinka Logistics Solutions, under the Blackbuck brand, submitted its draft papers on July 5, 2024. This company prefers to expand by raising funds which comes through IPO (initial public offering). It has a combination of OFS Offer for sale of up to 21.61 million equity shares, with a face value of Re 1 each. This process will come from its promoters shares which would be sold and quitting from ownership of a company. The IPO has a special allocation of shares for eligible employees. Additionally, these employees will receive a discount when they bid for shares in this reserved portion.
Investors including Accel India, GSAM Holdings, Quickroutes International (connected to Flipkart), the International Finance Corporation, Sands Capital, and Internet Fund III will take part as selling shareholders in this offer-for-sale by the Bengaluru-based digital platform for truck operators.
Zinka Logistics might sell up to 20% of its new shares before its IPO. Deployment of this is already ready: First, the fresh issues will be used for sales and marketing expenses. Additionally, some funds will be set aside for future needs to strengthen its capital by investing.
The main lead managers for the IPO are Axis Capital, Morgan Stanley India Company, JM Financial, and IIFL Securities. Digital platform, scalable technology, truck operator services, and a Great Place to Work certification are strengths of this company.
In 2023 the company reported an operating income of 668.0, down from 767.1 in 2022. For fiscal year 2024, it expects Rs 296.92 crore, compared to Rs 175.68 crore in FY23. The company has 8 directors and no key management personnel, with a debt/equity ratio of 0.47.
By March 31, 2024, Zinka Logistics had helped process 4,035 loans totaling Rs 196.79 crore according to DRHP(Draft Red Herring Prospectus. Moreover, a company with current assets of 693.23 in 2021.
Zinka Logistics IPO Prospectus:
| DRHP Draft Prospectus: | Click Here |
| RHP Draft Prospectus: | To be Updated Soon |
Zinka Logistics Company Financial Report
Amount ₹ in Crores
| Period Ended | Revenue | Expense | Profit After Tax |
| 2022 | ₹156.13 | ₹386.24 | ₹284.56 |
| 2023 | ₹195.09 | ₹431.77 | ₹290.50 |
| 2024 | ₹316.51 | ₹483.42 | ₹193.95 |
Zinka Logistics IPO Valuation – FY2024
Zinka Logistics IPO valuations detail like Earning Per Share (EPS), Price/Earning P/E Ratio, Return on Net Worth (RoNW), and Net Asset Value (NAV) details.
| Earning Per Share (EPS): | –₹9.06 (Basic) |
| Price/Earning P/E Ratio: | N/A |
| Return on Net Worth (RoNW): | –53.64% |
| Net Asset Value (NAV): | ₹16.89 |
Peer Group Comparison
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
| C.E. Info Systems Ltd | 24.78 | 92.90 | 0.20 | 12.09 | – Cr. |
| FLEETCOR Technologies, Inc | 1,118.83 | 20.20 | 0.30 | 3,678,737.81 | – Cr. |
| Full Truck Alliance Co. Ltd | 0.83 | 804.77 | 0.06 | 19.76 | – Cr. |
Objects of the Issue
- Funding towards sales and marketing costs;
- Investment in Blackbuck Finserve Private Limited, our NBFC subsidiary, for financing the augmentation of its capital
base to meet its future capital requirements; - Funding of expenditure in relation to product development; and
- General corporate purposes.
IPO Lead Managers aka Merchant Bankers
- Axis Capital Limited
- Morgan Stanley India Company Private Limited
- JM Financial Limited
- IIFL Securities Limited
