Zinka Logistics IPO: BlackBuck Raises Rs 501 Crore from Anchor Investors {update}

Zinka Logistics, BlackBuck’s parent, raised Rs 501 crore from anchor investors, targeting Rs 1,114.72 crore through its IPO.

Next in line to spill into the IPO market is Bengaluru based Zinka Logistics Solutions which plans to mop up up to Rs 1,114.72 crore through its share sale at the upper circuit of Rs 273 per share. As the company that by the way of the IPO will be selling its stock starting from November 13, it has recently attracted a solid team of investors based on its BlackBuck platform that provides payments, telematics, load management, financing for the truck operators.

Before the IPO’s opening, Zinka raised Rs 501.33 crore from institutional buyers through its anchor book list on November 12. There is 1.83 crore of equity shares which had been utilised for the anchor investor in Rs 273 every. Renowned international players in the field from Nomura, Hornbill Orchid India Fund to Steadview Capital, TIMF Holdings to the prestigious Massachusetts Institute of Technology has come on board. Many domestic investors also participated at this time: SBI Mutual Fund, Invesco India, and ICICI Prudential Life Insurance Company.