Zinka Logistics IPO Day 3: GMP, price band, subscription, key dates and review

GMP steady at Rs 35

The gray market premium (GMP) of Rs 35 per share of Zinka Logistics remained steady on Thursday, the third day of the initial public offering (IPO). This indicates a premium of around 16.7 per cent to the upper end of the price band of Rs 210-215 per share.

Subscription status

The IPO was subscribed 0.77 times on the third day of the offer. The retail portion was subscribed 1.15 times, while the non-institutional investor portion was subscribed 0.22 times. The qualified institutional buyer (QIB) portion was not subscribed at all.

Key dates

The IPO will close on Friday, November 11, 2022. The allotment of shares will be done on November 15, 2022. The shares are expected to be listed on the BSE and NSE on November 18, 2022.

Review

Zinka Logistics is a leading provider of integrated logistics solutions in India. The company offers a wide range of services, including freight forwarding, customs clearance, warehousing, and transportation. Zinka Logistics has a strong presence in the automotive, engineering, and healthcare sectors. The company's IPO is expected to raise around Rs 500 crore. The proceeds from the IPO will be used to expand the company's operations, repay debt, and for general corporate purposes. Zinka Logistics is a well-established company with a strong track record. The company has a competitive advantage in the logistics industry due to its wide range of services, strong customer base, and experienced management team. The IPO is attractively priced and offers investors an opportunity to participate in the growth of the Indian logistics sector.