MUMBAI/ NEW DELHI, 18 November (H.S.)

Monday is the third and last day of investment in the initial public offering (IPO) of Jinka Logistics Solutions Limited, a digital platform for truck owners. In the last two days, this issue has been subscribed by a total of 32 percent. It has been subscribed 92 percent in the retail category, 25 percent in the qualified institutional buyers (QIB) category and four percent in the non-institutional investor (NII) category.

The size of Jinka Logistics' IPO is Rs 1114.72 crore. New shares worth Rs 550 crore will be issued in the IPO of the company, which is a digital platform for truck owners. At the same time, there will be an offer for sale (OFS) of 2.16 crore shares from the existing shareholders and promoters. The value of OFS at the upper price band will be around Rs 564.72 crore. The company plans to raise Rs 1,115 crore through this IPO.

The company's shares will be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on November 21. Jinka Logistics will use the amount of Rs 200 crore raised from the new issue for sales and marketing initiatives. Apart from this, an amount of Rs 140 crore will be used to invest in Blackbuck Finserv, while Rs 75 crore will be used to finance the expenditure related to product development and a part will be invested by the general company in its operations.

Jinka Logistics Solutions Limited has fixed the price range for the IPO at Rs 259-273 per share. In this IPO of the company, investors can bid for a minimum of 54 equity shares and thereafter in multiples of 54 equity shares. The company of Jinka Logistics Solutions is offering a discount of Rs 25 per equity share to eligible employees.

Jinka Logistics Solutions Limited is India's largest digital platform for truck operators (by number of users). 963,345 truck operators in the country transacted on this platform in the financial year 2023-24. The company is dedicated to transforming the trucking industry in India by digitally empowering truck operators to manage their business and increase their earnings.

---------------

Hindusthan Samachar / Nimish kumar