Accel and Flipkart-backed Zinka Logistics recordsdata DRHP with Sebi for IPO

ETtech

Bengaluru-basically based Zinka Logistics Solutions, the nation’s leading platform for truck operators, has filed its draft crimson herring prospectus (DRHP) with market regulator Sebi to snatch funds through an IPO.

The IPO is a mixture of contemporary issuance of Rs 550 crore and an provide in the marketplace (OFS) of as much as 2.16 crore equity shares by promoters and investor selling shareholders.

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Beneath the OFS, Rajesh Kumar Naidu Yabaji, Ramasubramanian Balasubramaniam, Chanakya Hridaya, Accel India, Quickroutes World, World Finance Corp, Sands Capital, GSAM Holdings, Accel Scream Fund V and Internet Fund III Pte will offload shares.

The firm, in consultation with the e book-running lead manager, could per chance per chance additionally simply additionally defend in tips a pre-IPO placement, which is willing to not exceed 20% of the scale of the contemporary project. If such placement is executed, the contemporary project size will be reduced.

The provide is being made during the e book-building job, wherein about 75% is reserved for certified institutional merchants, 15% for non-institutional merchants, and 10% for retail merchants.

The proceeds from its contemporary issuance will be utilised for funding in opposition to sales and advertising and marketing costs, funding in Blackbuck Finserve for financing the augmentation of its capital putrid to satisfy its future capital requirements, and expenditure regarding product construction and total corporate purposes.

Zinka Logistics is dedicated to remodeling the trucking industry in India by digitally empowering truck operators to arrange their agencies and enlarge their earnings. The firm’s innovative BlackBuck app serves as a comprehensive platform, offering alternatives for funds, telematics, load administration, and automobile financing.

The BlackBuck app, central to Zinka Logistics' offerings, empowers truck operators to arrange rather about a aspects of their operations. By technique of the app, operators can contend with funds for tolling and fueling, note drivers and fleets the utilization of telematics, accumulate loads on the marketplace, and salvage admission to financing for purchasing aged autos.

In FY24, the app seen sturdy engagement, with monthly energetic truck operators the utilization of it for over 16.18 days monthly and spending an moderate of 39.56 minutes day after day on the platform.

Zinka Logistics processed a corrupt transaction cost (GTV) of Rs 17,396.19 crore in funds for FY24. The funds platform addresses necessary charges for truck operators, akin to tolls and gasoline.
The firm’s consolidated earnings from persevering with operations elevated by 69.01% to Rs 296.92 crore in FY24 from Rs 175.68 crore in FY23, basically due to the an enlarge in its moderate monthly transacting truck operators, which led to an enlarge in its rate earnings, subscription costs, and carrier costs.

Axis Capital, Morgan Stanley India, JM Monetary, and IIFL Securities are the e book-running lead managers and KFin Technologies is the registrar of the provide.

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