Zinka Logistics IPO will open on November 13, know the price band and details
There is good news for investors waiting for IPO. The IPO of Jinka Logistics Solutions Limited, a digital platform for truck owners, is opening on November 13. The price band for the Rs 1,115 crore initial public offering (IPO) has been fixed at Rs 259-273 per share. According to PTI news, the company said on Friday that the IPO will close on November 18. Jinka Logistics IPO lot size is 54 equity shares and thereafter in multiples of 54 equity shares.
OFS value Rs 565 crore
This IPO is a combination of fresh issue of Rs 550 crore and offer for sale (OFS) of 2.06 crore shares. At the upper end of the value band, the OFS to promoters and investors is valued at Rs 565 crore. Employees will also get a discount of Rs 25 per equity share in the IPO. The amount of Rs 200 crore raised from the fresh issue will be used for sales and marketing initiatives.
Of this, Rs 140 crore will be used for investment in Blackbuck Finserv, while Rs 75 crore will be used to finance product development related expenses and a portion will be used for general company functioning.
how much reserve for whom
Jinka Logistics IPO has reserved at least 75% of the shares in the public issue for qualified institutional buyers (QIBs), not more than 15% for non-institutional institutional investors (NIIs), and 10% for retail investors. No more than % of offer is reserved. 26,000 equity shares have been reserved for employees.
Proposal for sale of 2.07 crore shares
Jinka Logistics Solutions IPO has a fresh issue amounting to ₹550 crore. According to Livemint news, a proposal for sale of 2.07 crore shares is also included from the existing shareholders and promoters. At the highest price point, the offer for sale would be valued at around ₹564.72 crore. The total size of the issue will be approximately ₹1,114.72 crore.
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