Zinka Logistics Makes Bumpy Market Debut After IPO

Zinka Logistics Solutions Ltd shares opened with a slight premium on their market debut but soon dipped below their issue price. With a sizable IPO subscription, the funds raised are intended for expanding marketing, capital base, product development, and general corporate initiatives. Zinka aims to revolutionize India's trucking industry.

Shares of Zinka Logistics Solutions Ltd debuted on the stock market with a 2.21% premium on the BSE, starting at Rs 279.05, over their issue price of Rs 273. However, the stock soon lost early gains, trading down at Rs 263.60.

At NSE, the shares opened at Rs 280.90, a 2.89% rise, but similarly declined later, ending at Rs 264.65. The company's initial public offering was oversubscribed by 1.86 times on its closing day.

Zinka, through its IPO, raised funds to support sales and marketing, strengthen capital base, and invest in product development. The company is dedicated to empowering India's truck operators with its digital platform and BlackBuck app, seeking to optimize payments, telematics, and vehicle financing.

(With inputs from agencies.)