Zinka Logistics Solutions Ltd, a digital platform for truck operators, on Friday said it has fixed a price band of Rs 259-273 per share for its Rs 1,115 crore initial share sale.
The Initial Public Offering (IPO) will open for public subscription on November 13 and conclude on November 18, the company announced.
The IPO is a combination of a fresh issue of shares worth Rs 550 crore and an offer of sale (OFS) of up to 2.06 crore shares. The OFS by promoters and investor selling shareholders is valued at Rs 565 crore at the upper end of the price band.
A discount of Rs 25 per equity share is being offered to eligible employees bidding in the employee reservation portion.
Proceeds from the fresh issuance to the extent of Rs 200 crore will be used for sales and marketing initiatives; Rs 140 crore for investment in Blackbuck Finserve for financing the supporting the capital base to meet future capital requirements; Rs 75 crore for funding of expenditure in relation to product developmen
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