The scrip listed Rs 279.05 on BSE, a premium of 2.21% and Rs 280.90 on NSE, a premium of 2.89%.
MUMBAI, Nov 21 (The CONNECT) – Shares of Zinka Logistics Solutions Limited debuted on the exchange listing at a premium.
The scrip listed Rs 279.05 on BSE, a premium of 2.21% and Rs 280.90 on NSE, a premium of 2.89%. The company’s share price closed at Rs 260.20 on the BSE and at Rs 260 on the NSE.
As per NSE, the total quantity traded was 67.26 lakh shares, while on BSE the tally as5 5.56 lakh shares. Total Turnover (BSE+NSE) on Day 1 stood at Rs 197.37 crore.
The Market Capitalization of the Company at today’s closing price stood at Rs. 4,591.98 Crore as per BSE and Rs. 4,588.45 Crore as per NSE.
The company had offered Rs 1,114.72 crore issue for subscription from November 13 to November 18. This garnered substantial interest, and the offer was subscribed 1.86 times. Qualified Institutional Buyer and Non-Institutional Investors Portion was subscribed 2.76 times and 0.23 times respectively. Retail Portion was subscribed 1.65 times, whereas the employee segment 9.85 times.
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 management, and vehicle financing, company promoter Rajesh Naidu (Pictured) said.
As of June 30, 2024, Zinka Logistics had a significant presence, employing 1,849 permanent employees and engaging 3,688 contract workers. By Fiscal 2024, the company had grown its fleet to 963,345 truck operators, up from 482,446 in Fiscal 2022, representing 27.52% of India’s truck operators. The company’s extensive reach is reflected in its network of 9,374 touchpoints (as of June 30,2024), covering 80% of India’s districts, including all major transportation hubs and 76% of the toll plaza network. This extensive network helps the company onboard and service customers efficiently.
Zinka Logistics processed a gross transaction value (GTV) of ₹5,356.20 crore and ₹17,396.19 crore in payments in the three months ended June 30, 2024 and Fiscal 2024. The payments platform addresses significant expenses for truck operators, such as tolls and fuel. The company partners with FASTag banks and multiple oil marketing companies (OMCs) to offer efficient and secure tolling and fueling solutions, generating revenue through commission margins based on transaction values.
As of and for the three months period ended June 30, 2024, Zinka Logistics had 310,989 monthly transacting users utilizing at least two services, facilitating over 128.31 million transactions. This reflects the company’s success in providing integrated solutions that cater to various needs of truck operators, enhancing their business operations and profitability.
Zinka Logistics’ consolidated revenue from continuing operations increased by 69.01% to ₹296.92 crore in Fiscal 2024 from ₹175.68 crore in Fiscal 2023, primarily due to an increase in its average monthly transacting truck operators, which led to an increase in its commission income, subscription fees, and service fees. For the three months ended June 30, 2024, revenue from continuing operations stood at ₹92.17 crore and Profit after tax stood at ₹28.67 crore.
