Bangalore-based Zinka Logistics Solution Private Limited, India’s one of leading digital platforms for truck operators have filed its DRHP or draft red herring perspective with SEBI to raise funds via an IPO.

Zinka is looking to raise Rs. 550 crores and has put off an offer for the sale of 21.61 million equity shares by promoters and investors. As per DHRP, The offer has plans to allocate 75% to a qualified institutional buyer, up to 15% to a non-institutional bidder and the remaining 10% to retail individual bidders and reserve portion and discount for eligible employees.

The fresh fund will be utilized for sales and marketing, capital base for Blackbuck Finance Private Limited (Blackbuck app) and product development. 

In Fiscal year 2024, Zinka Logistics reported a nearly 69% increase in consolidated revenue from its operations driven by higher commission income subscription fees and service fees. BlackBuck app onboarded around 9,00,000+ truck operators representing nearly 28% of the Indian truck operators and processed a gross transaction value of 17,397 crores.

The IPO  will be managed by AXIS Capital, Morgan Stanley India, JM Financial Limited and IIFL Security Limited.  The equity share will be listed on both BSE and NSE.