The much-anticipated share allotment for Zinka Logistics Solutions, the operator of the digital logistics platform BlackBuck, as part of its Initial Public Offering (IPO), is expected to be finalised today, Tuesday, November 19, 2024. The three-day subscription period, which concluded yesterday, garnered moderate interest from investors across categories.
BlackBuck IPO overview
The BlackBuck IPO, worth ₹1,114.72 crore, was priced in the range of ₹259 to ₹273 per share, with a minimum lot size of 54 shares. The offering received bids for 4,19,57,676 shares, oversubscribing by 1.86 times against the 2,25,66,210 shares on offer, as per data from the Bombay Stock Exchange (BSE).
Final subscription status
- Qualified Institutional Buyers (QIBs): The QIB segment led the subscription with a robust 2.76 times oversubscription.
- Retail Investors: The retail portion achieved a subscription rate of 1.16 times, reflecting decent participation.
- Non-Institutional Investors (NIIs): The NII segment remained underwhelming with a subscription of just 0.24 times.
- Employees: The reserved portion for employees saw significant interest, oversubscribing by 9.88 times, indicating strong internal confidence in the company.
How to check blackbuck IPO allotment status
Investors eagerly awaiting the allotment results can verify their status through the official platforms of the BSE, NSE, or the IPO registrar, KFin Technologies.
Here are the direct links for checking allotment status:
- BSE Allotment Status
- KFin Technologies Allotment Status
- NSE Allotment Status
BlackBuck IPO grey market premium (GMP)
The grey market premium (GMP), a key indicator of investor sentiment in the unlisted market, has remained subdued for BlackBuck since its public offering launch. Sources tracking the grey market revealed that the company’s unlisted shares traded flat on Tuesday, reflecting lukewarm enthusiasm.
While GMP often predicts the potential listing price of shares, the muted activity hints at a cautious approach by investors.
BlackBuck expected listing price
BlackBuck shares are set to list on the BSE and NSE on Thursday, November 21, 2024. Based on prevailing grey market trends and overall market sentiment, the shares are expected to debut near the ₹273 upper price band. However, a lackluster listing or marginal premium is anticipated unless broader market conditions improve.
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About blackbuck and Zinka logistics solutions
Founded to revolutionise logistics operations, BlackBuck, through its digital platform, provides a suite of services designed to enhance the efficiency and profitability of truck operators. These include:
- Payments: Streamlined payment solutions for logistics stakeholders.
- Telematics: Advanced tracking systems for fleet management.
- Load Marketplaces: Facilitating seamless freight bookings.
- Vehicle Financing: Enabling truck operators to secure financing for vehicle procurement and maintenance.
By leveraging technology, BlackBuck aims to simplify logistics and empower operators with digital tools, positioning itself as a leader in India’s logistics tech space.
Looking ahead
The BlackBuck IPO reflects a growing interest in India’s digital logistics sector, with increasing adoption of technology in a traditionally fragmented market. While the IPO’s oversubscription indicates a fair level of investor confidence, its success will largely depend on its market debut on November 21.
Investors are advised to monitor global and domestic market trends, as well as BlackBuck’s post-listing performance, to assess its long-term potential in this evolving sector.
