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BlackBuck IPO is a book-built issue of Rs 1,114.72 crores. It consists of a fresh issue of 2.01 crore shares aggregating Rs 550.00 crores and an offer for sale of 2.07 crore shares aggregating Rs 564.72 crores.
The IPO opens for subscription on November 13, 2024, and closes on November 18, 2024. The price band for the IPO is set at ₹259 to ₹273 per share and the minimum lot size for an application is 54 Shares.
Company Summary
Founded in April 2015, Zinka Logistics Solution Limited offers a digital platform, the BlackBuck app, for truck operators. In the fiscal year 2024, 963,345 truck operators in the country conducted their business through the platform, representing 27.52% of all Indian truck operators.
Zinka Logistics Solution’s BlackBuck app is a platform that offers payments, telematics, a freight marketplace, and vehicle financing services to help truck operators achieve their goals efficiently.
As of March 31, 2024, the company had processed a Gross Transaction Value (GTV) of Rs. 173,961.93 million in payments.
As of March 31, 2024, the company had a monthly average of 356,050 active telematics devices and has facilitated 4,035 loans with a total value of Rs. 1,967.88 million.
As of March 31, 2024, the company offered vehicle financing to customers in 48 districts across seven states in India.
Company Strengths
- India’s largest platform for digital truck operators.
- A wide network of truck operators has been built over the nine years of its existence.
- New offerings to address market gaps and fulfill customer needs.
- A strong multi-channel sales network and an effective sales and service strategy promote customer acceptance.
- High-growth business with operational leverage and high profitability.
- Experienced management team.
- As of March 31, 2024, the company had 4,289 employees
Company Financials
| Period Ended | 30 Jun 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
| Assets | 629.41 | 654.32 | 654.25 | 899.68 |
| Revenue | 98.33 | 316.51 | 195.09 | 156.13 |
| Profit After Tax | 32.38 | -193.95 | -290.50 | -284.56 |
| Net Worth | 344.98 | 311.29 | 352.66 | 585.08 |
| Reserves and Surplus | 339.07 | 311.03 | 66.55 | 377.58 |
| Total Borrowing | 161.01 | 173.74 | 165.84 | 199.00 |
Amount in ₹ Crore | ||||
Objectives of the IPO
The company proposes to utilise the Net Proceeds towards funding the following objects:
- Funding towards sales and marketing costs
- Investment in Blackbuck Finserve Private Limited, its NBFC subsidiary, for financing the augmentation of its capital base to meet its future capital requirements.
- Funding of expenditure on product development.
- General corporate purposes.
Promoters of the company
Rajesh Kumar Naidu Yabaji, Chanakya Hridaya, and Ramasubramanian Balasubramaniam are the Promoters of our Company.
The Promoters, in aggregate, hold 53,446,188 Equity Shares in the Company, representing 32.78% of the Shareholding in the Company on a fully diluted basis.
Individually, Rajesh Kumar Naidu Yabaji holds 23,559,968 Equity shares, representing 14.45% of the shareholding in the Company on a fully diluted basis, Chanakya Hridaya holds 15,364,208 Equity Shares, representing 9.42% of the shareholding in the Company on a fully diluted basis and Ramasubramanian Balasubramaniam holds 14,522,012 Equity Shares, representing 8.91% of the shareholding in the Company on a fully diluted basis of the issued, subscribed and paid-up equity share capital of the Company, on a fully diluted basis.
IPO details
| IPO Date | November 13, 2024 to November 18, 2024 |
| Listing Date | Thursday, November 21, 2024 |
| Face Value | ₹1 per share |
| Price Band | ₹259 to ₹273 per share |
| Lot Size | 54 Shares |
| Total Issue Size | 40,832,320 shares (aggregating up to ₹1,114.72 Cr) |
| Fresh Issue | 20,146,520 shares (aggregating up to ₹550.00 Cr) |
| Offer for Sale | 20,685,800 shares of ₹1 (aggregating up to ₹564.72 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
Lot Allocation details
| Application | Lots | Shares | Amount |
| Retail (Min) | 1 | 54 | ₹14,742 |
| Retail (Max) | 13 | 702 | ₹191,646 |
| S-HNI (Min) | 14 | 756 | ₹206,388 |
| S-HNI (Max) | 67 | 3,618 | ₹987,714 |
| B-HNI (Min) | 68 | 3,672 | ₹1,002,456 |
Allotment Schedule
| Basis of Allotment | Tuesday, November 19, 2024 |
| Initiation of Refunds | Wednesday, November 20, 2024 |
| The credit of Shares to Demat | Wednesday, November 20, 2024 |
| Listing Date | Thursday, November 21, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on November 18, 2024 |
IPO Reservation
| Investor Category | Shares Offered |
| QIB Shares Offered | Not less than 75% of the Net Issue |
| Retail Shares Offered | Not more than 10.00% of the Net Issue |
| NII (HNI) Shares Offered | Not more than 15.00% of the Net Issue |
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