5paisa Research Team Last Updated: 13th November 2024 - 05:38 pm
5paisa Research Team Last Updated: 13th November 2024 - 05:38 pm
BlackBuck's initial public offering (IPO) has received moderate investor interest on its opening day. The IPO witnessed cautious demand, resulting in a 0.05 times subscription by 11:25 AM on day one. This initial response indicates measured investor sentiment towards BlackBuck's shares at the start of the subscription period.
BlackBuck IPO, which opened on 13th November 2024, has seen varied participation across categories. The Employee segment has shown strong interest reaching 1.78 times subscription, while Retail Investors demonstrated modest participation at 0.24 times. The QIB and NII categories have shown limited participation in the initial hours.
This measured response comes amid ongoing sentiment in the Indian stock market, particularly towards technology-driven logistics platforms.
Subscription Status of Zinka Logistics IPO (Blackbuck IPO):
| Date | QIB | NII | Retail | EMP | Total |
| Day 1 (Nov 13)* | 0.00 | 0.01 | 0.24 | 1.78 | 0.05 |
As of 11:25 AM
Here are the subscription details for Zinka Logistics IPO (Blackbuck IPO) as of Day 1 (13th November 2024, 11:25 AM):
| Investor Category | Subscription (times) | Shares Offered | Shares bid for | Total Amount (₹ Cr.)* |
| Anchor Investors | 1.00 | 1,83,63,915 | 1,83,63,915 | 501.335 |
| Qualified Institutions | 0.00 | 1,22,42,611 | 0 | 0 |
| Non-Institutional Buyers | 0.01 | 61,21,305 | 37,368 | 1.020 |
| bNII (bids above ₹10L) | 0.00 | 40,80,870 | 4,320 | 0.118 |
| sNII (bids below ₹10L) | 0.02 | 20,40,435 | 33,048 | 0.902 |
| Retail Investors | 0.24 | 40,80,870 | 9,77,994 | 26.699 |
| Employees | 1.78 | 26,000 | 46,278 | 1.263 |
| Total | 0.05 | 2,24,70,786 | 10,61,640 | 28.983 |
Total Applications: 15,351
Note:
Key Highlights:
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Founded in April 2015, Zinka Logistics Solution Limited operates BlackBuck, India's largest digital platform for truck operators. The company has established itself as a comprehensive solution provider in the logistics technology sector through its innovative BlackBuck app platform. In the fiscal year 2024, the platform served 963,345 truck operators, representing 27.52% of all Indian truck operators, offering integrated services including payments, telematics, and a freight marketplace.
The company has demonstrated significant growth in its operations, processing a Gross Transaction Value (GTV) of ₹173,961.93 million in payments as of 31st March 2024. Its telematics service maintains a monthly average of 356,050 active devices, while the vehicle financing division has facilitated 4,035 loans totalling ₹1,967.88 million. The company currently offers vehicle financing services across 48 districts in seven states in India.
BlackBuck's competitive strengths lie in its position as India's largest digital platform for truck operators, supported by an extensive network built over nine years. The company employs a strong multi-channel sales network and effective service strategy to promote customer acceptance. With 4,289 employees as of 31st March 2024, the company operates under an experienced management team, implementing a high-growth business model with operational leverage and strong profitability potential.