Accel and Flipkart-backed Zinka Logistics files DRHP with Sebi for IPO
The IPO is a mix of fresh issuance of Rs 550 crore and an offer for sale (OFS) of up to 2.16 crore equity shares by promoters and investor selling shareholders.
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Under the OFS, Rajesh Kumar Naidu Yabaji, Ramasubramanian Balasubramaniam, Chanakya Hridaya, Accel India, Quickroutes International, International Finance Corp, Sands Capital, GSAM Holdings, Accel Growth Fund V and Internet Fund III Pte will offload shares.
The company, in consultation with the book-running lead manager, may also consider a pre-IPO placement, which will not exceed 20% of the size of the fresh issue. If such placement is completed, the fresh issue size will be reduced.
The offer is being made through the book-building process, wherein about 75% is reserved for qualified institutional buyers, 15% for non-institutional investors, and 10% for retail investors.
The proceeds from its fresh issuance will be utilised for funding towards sales and marketing costs, investment in Blackbuck Finserve for financing the augmentation of its capital base to meet its future capital requirements, and expenditure concerning product development and general corporate purposes.
Zinka Logistics is dedicated to transforming the trucking industry in India by digitally empowering truck operators to manage their businesses and increase their earnings. The company’s innovative BlackBuck app serves as a comprehensive platform, providing solutions for payments, telematics, load
