IPO Details

Bidding Dates

13 Nov '24 - 18 Nov '24

Minimum Investment

₹14,742 / 1 Lot (54 Shares)

Price Range

₹259 - ₹273

Maximum Investment

₹1,91,646 / 13 Lot (663 Shares)

Retail Discount

To be announced

Issue Size

₹1,114.72 Cr

Investor category and sub category

Retail Individual Investors (RII)  |   Non-institutional Investors (NII)  |   Qualified Institutional Buyers (QIB)  |   Eligible employees  |  

IPO Dates

Important dates with respect to IPO allotment and listing

Opening Date

Nov 13, 2024

Closing Date

Nov 18, 2024

Basis of Allotment

Nov 19, 2024

Initiation of Refunds

Nov 20, 2024

Listing Date

Nov 21, 2024

About Blackbuck IPO

The BlackBuck IPO is a book-built issue valued at ₹1,114.72 crores, comprising a fresh issue of 2.01 crore shares totalling ₹550 crores and an offer for sale of 2.07 crore shares amounting to ₹564.72 crores. The IPO opens for subscription on November 13, 2024, and closes on November 18, 2024, with the allotment likely finalised on November 19, 2024.

The tentative listing on the BSE and NSE is set for November 21, 2024. The price band is set between ₹259 and ₹273 per share, with a minimum lot size of 54 shares for retail investors, requiring an investment of ₹14,742.

For sNII investors, the minimum is 14 lots (756 shares) at ₹206,388, and for bNII, 68 lots (3,672 shares) at ₹1,002,456. Up to 26,000 shares are reserved for employees at a ₹25 discount. Axis Capital, Morgan Stanley, JM Financial, and IIFL Securities are lead managers, with KFin Technologies as the registrar.

Industry Outlook:

  1. Research shows every ₹100 spent on infrastructure boosts GDP by ₹245. With ₹11.11 trillion allocated in FY 2024-25, significant economic growth is anticipated.
  2. The Indian trucking industry, with 12.5 million trucks, has achieved an 8-9% CAGR in freight value since FY 2020, supporting sustained logistics expansion.

Blackbuck IPO Objectives

Zinka Logistics Solution Limited plans to allocate the net proceeds from the issuance to the following purposes:

  1. Funding towards sales and marketing costs.
  2. Investment in Blackbuck Finserve Private Limited, an NBFC subsidiary, for financing the augmentation of its capital.
  3. Base to meet its future capital requirements.
  4. Funding of expenditure to product development.
  5. General corporate purposes.

About Zinka Logistics Solution Limited (Blackbuck)

Zinka Logistics Solution Limited, founded in April 2015, operates the BlackBuck app, a digital platform designed to streamline operations for truck operators in India. In fiscal year 2024, the platform engaged 963,345 truck operators, representing 27.52% of the national total.

The BlackBuck app offers comprehensive services, including payments, telematics, a freight marketplace, and vehicle financing. As of March 31, 2024, Zinka reported a Gross Transaction Value (GTV) of ₹173,961.93 million, with toll and fuel recharges driving significant volumes.

The company’s telematics services had a monthly average of 356,050 active devices, enhancing fleet management. BlackBuck’s vehicle financing covered 48 districts across seven states, facilitating 4,035 loans worth ₹1,967.88 million.

The platform’s loads marketplace had 2.12 million load postings in fiscal 2024, helping 256,685 truck operators find suitable loads. Zinka Logistics employed 4,289 people as of March 2024, underscoring its role in the digital transformation of India’s trucking industry.

How to Check the Allotment Status of the Blackbuck IPO?

Steps to check IPO allotment status on Angel One’s app:

  1. Log in to the Angel One app
  2. Go to the IPO Section and then to IPO Orders.
  3. Select the individual IPO that you had applied for and check the allotment status.
  4. Angel One will notify you of your IPO allotment status via push notification and email.

How to apply for Blackbuck IPO online?

  1. Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
  2. Locate the IPO Section: Navigate to the 'IPO' section on the platform.
  3. Select IPO: Find and select the Blackbuck IPO from the list of open IPOs.
  4. Enter the Lot Size: Specify the number of lots you want to bid for.
  5. Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
  6. Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.

Contact Details of Blackbuck IPO

  • Registered office: Vaswani Presidio, no. 84/2, II Floor, Panathur Main Road, Kadubeesanahalli, Off Outer Ring Road, Bengaluru 560 103, Karnataka, India
  • Phone: +91 8046481828
  • E-mail: cs@blackbuck.com

Application Details of Blackbuck IPO

Category Price Range (₹) Maximum Application Amount (₹)
General Investors ₹259 - ₹273 2 lakh
High Net-Worth Individuals (HNIs) ₹259 - ₹273 2 - 5 lakh

For the Blackbuck IPO, eligible participants include General Investors and High net-worth individuals, with specific limits on application amounts for each category.

Blackbuck IPO Reservation

Investor Category Percentage of Shares Offered from Net Issue
Qualified Institutional Buyers (QIB) Not less than 75% of the Net Issue
Retail Investors Not less than 10% of the Net Issue
Non-Institutional Investors (NII/HNI) Not more than 15.00% of the Net Issue

This table outlines the share allocation for different investor categories in the Blackbuck IPO.

Blackbuck IPO Promoter Holding

Zinka Logistics Solution Company is the promoter, with 100.00% ownership before the issue and a reduced stake after the IPO is yet to be announced.

Promoter Zinka Logistics Solution Company
Pre-IPO Shareholding 32.91%
Post-IPO Shareholding 27.84%

Blackbuck IPO Registrar and Lead Manager(s)

Blackbuck Solar Holdings IPO Lead Managers:

  • Axis Capital Limited
  • Morgan Stanley India Company Pvt Ltd
  • Jm Financial Limited
  • Iifl Securities Ltd

Registrar for Blackbuck IPO:

Kfin Technologies Limited

IPO Financials

Particulars As at and for the quarter ended June 30, 2024 As at and for the Year ended March 31, 2024 As at and for the quarter ended June 30, 2023 As at and for the Year ended March 31, 2023
Total Income (in ₹ million) 983.30 3,165.14 643.59 1,950.92
Annual transacting truck operator (x) NA 963,345 NA 761,871
Contribution Margin (%) 93.27% 91.10% 91.07% 90.68%
Return on capital employed (%) 1.50% (33.84%) (6.65%) (45.03%)
Profit After Tax (PAT) (in ₹ million) 323.78 (1,669.86) (333.18) (2,368.49)
Total Borrowings (in ₹ million) 1,610.11 1,737.35 1,580.76 1,658.35
Net Worth (in ₹ million) 3449.79 3,112.93 3335.43 3,526.64
Return on Net Worth (%) 9.39 (53.64) (9.99) (67.16)
Earning Per Share (EPS)-in absolute ₹ 1.76 (9.06) (1.82) (12.93)

Know before investing

Strengths

6

  1. Largest digital platform for truck operators, serving 27.52% nationally.

  2. Facilitated over 413.34 million transactions in Fiscal 2024.

  3. Serves truck operators across 628 districts, 80% of India.

  4. Offers multilingual support: English, Hindi, Kannada, Tamil, Telugu.

  5. Strong customer retention: 93.51% first-year retention rate.

  6. Extensive telematics usage: 356,050 active devices monthly in 2024.

Risks

6

  1. Significant losses: ₹1,944.97 million pre-tax loss in Fiscal 2024.

  2. Heavy reliance on key partners for 42.50% of revenue.

  3. Negative cash flow from operations in previous financial years.

  4. High dependence: Payments and telematics contributed 94.53% of revenue in 2024.

  5. Risk of termination: Non-exclusive agreements with key partners.

  6. Regulatory changes could impact FASTag commission revenue and profitability.

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Peer Comparison

Company Name Face Value (₹) EPS (Basic) (₹) EPS (Diluted) (₹) Return on Net Worth (%)
Zinka Logistics Solutions Limited 1 (10.52) (10.52) (53.64)
C.E. Info Systems Ltd 2 24.78 24.58 0.20
FLEETCOR Technologies, Inc 0.08337 1,118.83 1,100.48 0.30
Full Truck Alliance Co. Ltd 0.0008337 0.83 0.83 0.06

Blackbuck IPO (Zinka Logistics Solution IPO) FAQs

What is the Blackbuck IPO?

Zinka Logistics Solution’s IPO is a book-built IPO. It will be open from November 13, 2024, to November 18, 2024.

When will Blackbuck IPO be allotted?

The Basis of Allotment will happen on Tuesday, November 19, 2024.

When will Blackbuck IPO open for subscription?

The IPO subscription window will open on November 13, 2024.

What minimum lot size of Blackbuck IPO can retail investors subscribe to?

The minimum lot size retail investors can subscribe to is 1 lot, and the lot size is 54 shares.

When will Zinka Logistics Solution Limited list on exchanges?

The listing date for Zinka Logistics Solution is Thursday, November 21, 2024.

What is the issue size of Blackbuck IPO?

The issue size of the Blackbuck IPO is up to ₹1,114.72  crore, including a fresh issue of up to ₹550.00 crore and an offer for sale (OFS) of up to ₹564.72 crore.

What are the open and close dates of the Blackbuck IPO?

The open and close dates for Zinka Logistics Solution Limited (Blackbuck IPO) are from November 13, 2024 to November 18, 2024.

What would be the listing gains on the Blackbuck IPO?

Listing gains cannot be ascertained before the listing of the IPO on the stock exchange.

How to increase your chances of getting a Blackbuck IPO allotment?

  1. Multiple Submissions: Use different Demat accounts to make multiple applications.
  2. Higher Price Band Bidding: Opt for bidding at the cut-off price or higher price band.
  3. Timely Subscription: Ensure you subscribe to the IPO within the specified time frame.

How do I approve the UPI mandate request for Blackbuck IPO?

You must complete the payment process by logging in to your UPI handle and approving the payment mandate.

Can I submit more than one application for the public issue of Zinka Logistics Solution Limited using one PAN?

You can submit only one application using your PAN card.

How to read Zinka Logistics Solution Limited's financial statements?

To read Zinka Logistics Solution’s financial statements, download the IPO’s  RHP document.

What is 'pre-apply' for Blackbuck IPO?

Pre-apply allows investors to apply for the Blackbuck IPO (Zinka Logistics Solution Ltd) two days before the subscription period opens, ensuring an early submission of your application.

If I pre-apply for the Blackbuck IPO, when will my order get placed?

Your order will be placed when the IPO opens for bidding, and a UPI request will follow within 24 hours.

When will I know if my Blackbuck IPO order is placed?

You will receive a notification once your order is successfully placed with the exchange after the bidding starts.

Who is the registrar of Blackbuck IPO?

Kfin Technologies Limited is the registrar responsible for managing the IPO allotment process and handling investor queries.

Where is the Blackbuck IPO getting listed?

Blackbuck IPO (Zinka Logistics Solution Ltd) is proposed to be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).