Backed by Flipkart and Accel, Zinka Logistics files for Rs 550 crore IPO
Zinka’s consolidated revenue rose 69 percent to Rs 296.92 crore in fiscal 2024 from Rs 175.68 crore in fiscal 2023.
Bengaluru-based Zinka Logistics Solutions, backed by the Walmart owned ecommerce major Flipkart and Accel, and which claims to the largest domestic digital platform for truck operators, has filed for a Rs 550-crore primary share sale.
According to the draft red herring prospectus (DRHP) filed with the markets regulator Securities and Exchange Board (Sebi), the issue will be a mix of fresh issuance of Rs 550 crore and an offer for sale of up to 21.61 million equity shares of face value of Re 1, by promoters and investor selling shareholders. The filing did not quantify the FPO size as the price band has not been arrived at.
The offer for sale consists of 22.19 lakh share sale by Rajesh Kumar Naidu Yabaji, 11.09 lakh by Chanakya Hridaya, 11.09 lakh by Ramasubramanian Balasubramaniam, 43.09 lakh by Accel India, 39.74 lakh by Quickroutes International, 17.12 lakh by International Finance Corporation, 13.24 lakh by Sands Capital Private Growth II 9.27 lakh equity shares by GSAM Holdings, 9.23 lakh equity shares by Accel Growth Fund V and 8.83 lakh equity shares by Internet Fund III, according to the filing.
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