Zinka Logistics receives SEBI nod for Rs 5.5 billion IPO

October 14, 2024

Zinka Logistics Solutions received a nod from the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO) comprising a fresh issue of up to Rs 5.5 billion and an offer for sale (OFS) of up to 21.61 million equity shares. The company may consider pre-IPO placement not exceeding 20 per cent of the fresh issue. The proceeds from the fresh issuance up to Rs 2 billion will be deployed in sales and marketing, Rs 1.4 billion for investment in Blackbuck Finserve, and Rs 750 million for product development and general corporate purposes.