Accel and Flipkart-backed Zinka Logistics files DRHP with Sebi for IPO

Bengaluru-based Zinka Logistics Options, the nation’s main platform for truck operators, has filed its draft purple herring prospectus (DRHP) with market regulator Sebi to lift funds by means of an IPO.

The IPO is a mixture of contemporary issuance of Rs 550 crore and a proposal on the market (OFS) of as much as 2.16 crore fairness shares by promoters and investor promoting shareholders.

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Underneath the OFS, Rajesh Kumar Naidu Yabaji, Ramasubramanian Balasubramaniam, Chanakya Hridaya, Accel India, Quickroutes Worldwide, Worldwide Finance Corp, Sands Capital, GSAM Holdings, Accel Development Fund V and Web Fund III Pte will offload shares.

The corporate, in session with the book-running lead supervisor, may think about a pre-IPO placement, which won’t exceed 20% of the scale of the contemporary difficulty. If such placement is accomplished, the contemporary difficulty measurement will likely be diminished. The supply is being made by means of the book-building course of, whereby about 75% is reserved for certified institutional consumers, 15% for non-institutional buyers, and 10% for retail buyers.The proceeds from its contemporary issuance will likely be utilised for funding in the direction of gross sales and advertising prices, funding in Blackbuck Finserve for financing the augmentation of its capital base to satisfy its future capital necessities, and expenditure regarding product improvement and common company functions.Zinka Logistics is devoted to reworking the trucking business in India by digitally empowering truck operators to handle their companies and enhance their earnings. The corporate’s modern BlackBuck app serves as a complete platform, offering options for funds, telematics, load administration, and automobile financing.

The BlackBuck app, central to Zinka Logistics’ choices, empowers truck operators to handle varied features of their operations. By means of the app, operators can deal with funds for tolling and fueling, monitor drivers and fleets utilizing telematics, discover masses on {the marketplace}, and entry financing for buying used automobiles.

In FY24, the app noticed sturdy engagement, with month-to-month lively truck operators utilizing it for over 16.18 days monthly and spending a mean of 39.56 minutes day by day on the platform.

Zinka Logistics processed a gross transaction worth (GTV) of Rs 17,396.19 crore in funds for FY24. The funds platform addresses vital bills for truck operators, reminiscent of tolls and gasoline.The corporate’s consolidated income from persevering with operations elevated by 69.01% to Rs 296.92 crore in FY24 from Rs 175.68 crore in FY23, primarily because of a rise in its common month-to-month transacting truck operators, which led to a rise in its fee revenue, subscription charges, and repair charges.

Axis Capital, Morgan Stanley India, JM Monetary, and IIFL Securities are the book-running lead managers and KFin Applied sciences is the registrar of the supply.